Consolidated Edison, Inc. (NYSE:ED) Shares Purchased by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. boosted its stake in Consolidated Edison, Inc. (NYSE:ED) by 7.8% in the 3rd quarter, Holdings Channel reports. The firm owned 42,857 shares of the utilities provider’s stock after purchasing an additional 3,096 shares during the period. Daiwa Securities Group Inc.’s holdings in Consolidated Edison were worth $4,462,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ED. Clean Energy Transition LLP raised its holdings in shares of Consolidated Edison by 227.9% in the 2nd quarter. Clean Energy Transition LLP now owns 897,553 shares of the utilities provider’s stock valued at $80,259,000 after buying an additional 623,787 shares during the period. International Assets Investment Management LLC grew its position in Consolidated Edison by 10,262.1% in the 3rd quarter. International Assets Investment Management LLC now owns 553,546 shares of the utilities provider’s stock valued at $57,641,000 after acquiring an additional 548,204 shares in the last quarter. Acadian Asset Management LLC increased its stake in Consolidated Edison by 302.3% during the second quarter. Acadian Asset Management LLC now owns 709,172 shares of the utilities provider’s stock worth $63,396,000 after purchasing an additional 532,893 shares during the period. Assenagon Asset Management S.A. lifted its position in shares of Consolidated Edison by 4,020.5% during the third quarter. Assenagon Asset Management S.A. now owns 406,859 shares of the utilities provider’s stock worth $42,366,000 after purchasing an additional 396,985 shares in the last quarter. Finally, AMF Tjanstepension AB boosted its stake in shares of Consolidated Edison by 243.2% in the second quarter. AMF Tjanstepension AB now owns 497,982 shares of the utilities provider’s stock valued at $44,564,000 after purchasing an additional 352,903 shares during the period. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ED. Bank of America upped their target price on shares of Consolidated Edison from $97.00 to $109.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Jefferies Financial Group began coverage on Consolidated Edison in a research note on Wednesday, October 9th. They issued a “hold” rating and a $108.00 price objective on the stock. UBS Group boosted their target price on Consolidated Edison from $105.00 to $106.00 and gave the stock a “neutral” rating in a research note on Friday, September 20th. Guggenheim increased their price target on Consolidated Edison from $88.00 to $91.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Finally, Evercore ISI raised Consolidated Edison from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 8th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $98.19.

Consolidated Edison Price Performance

Shares of ED opened at $101.72 on Wednesday. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93. Consolidated Edison, Inc. has a 1-year low of $85.85 and a 1-year high of $107.75. The stock has a market cap of $35.24 billion, a PE ratio of 19.16, a price-to-earnings-growth ratio of 3.31 and a beta of 0.36. The firm has a fifty day moving average price of $101.85 and a 200 day moving average price of $98.13.

Consolidated Edison (NYSE:ED) last posted its earnings results on Thursday, November 7th. The utilities provider reported $1.68 earnings per share for the quarter, beating the consensus estimate of $1.56 by $0.12. The business had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $4.02 billion. Consolidated Edison had a return on equity of 8.70% and a net margin of 12.27%. As a group, sell-side analysts anticipate that Consolidated Edison, Inc. will post 5.33 EPS for the current year.

Consolidated Edison Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Wednesday, November 13th will be given a dividend of $0.83 per share. The ex-dividend date is Wednesday, November 13th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.26%. Consolidated Edison’s dividend payout ratio (DPR) is presently 62.52%.

Consolidated Edison Company Profile

Consolidated Edison, Inc, through its subsidiaries, engages in the regulated electric, gas, and steam delivery businesses in the United States. It offers electric services to approximately 3.7 million customers in New York City and Westchester County; gas to approximately 1.1 million customers in Manhattan, the Bronx, parts of Queens, and Westchester County; and steam to approximately 1,530 customers in parts of Manhattan.