Robeco Institutional Asset Management B.V. lessened its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 0.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,536,576 shares of the utilities provider’s stock after selling 8,962 shares during the period. Robeco Institutional Asset Management B.V. owned approximately 0.49% of Consolidated Edison worth $117,072,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in the business. Millennium Management LLC grew its stake in Consolidated Edison by 1,396.5% in the first quarter. Millennium Management LLC now owns 117,877 shares of the utilities provider’s stock valued at $9,187,000 after acquiring an additional 110,000 shares during the period. Principal Financial Group Inc. grew its stake in Consolidated Edison by 0.5% in the first quarter. Principal Financial Group Inc. now owns 900,013 shares of the utilities provider’s stock valued at $70,147,000 after acquiring an additional 4,890 shares during the period. IFM Investors Pty Ltd grew its stake in Consolidated Edison by 43.5% in the second quarter. IFM Investors Pty Ltd now owns 13,937 shares of the utilities provider’s stock valued at $1,087,000 after acquiring an additional 4,225 shares during the period. Fisher Asset Management LLC acquired a new position in Consolidated Edison in the second quarter valued at about $311,000. Finally, Dalton Greiner Hartman Maher & Co. acquired a new position in Consolidated Edison in the second quarter valued at about $277,000. 58.60% of the stock is currently owned by institutional investors.
ED stock opened at $79.00 on Friday. The company has a quick ratio of 0.56, a current ratio of 0.62 and a debt-to-equity ratio of 0.97. The stock has a market cap of $24.37 billion and a PE ratio of 19.32. Consolidated Edison, Inc. has a fifty-two week low of $71.12 and a fifty-two week high of $89.70.
Consolidated Edison (NYSE:ED) last posted its quarterly earnings data on Thursday, November 1st. The utilities provider reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.11. The company had revenue of $3.33 billion during the quarter, compared to analysts’ expectations of $3.17 billion. Consolidated Edison had a return on equity of 8.64% and a net margin of 12.60%. During the same period in the prior year, the firm earned $1.47 earnings per share. As a group, equities research analysts anticipate that Consolidated Edison, Inc. will post 4.28 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 17th. Stockholders of record on Wednesday, November 14th will be given a dividend of $0.715 per share. The ex-dividend date of this dividend is Tuesday, November 13th. This represents a $2.86 annualized dividend and a dividend yield of 3.62%. Consolidated Edison’s dividend payout ratio is currently 69.93%.
A number of research firms have issued reports on ED. Morgan Stanley boosted their target price on Consolidated Edison from $77.00 to $81.00 and gave the company a “sell” rating in a research note on Tuesday, September 11th. ValuEngine raised Consolidated Edison from a “sell” rating to a “hold” rating in a research note on Tuesday, October 2nd. Goldman Sachs Group raised Consolidated Edison from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $72.00 to $73.00 in a research report on Monday, November 5th. Bank of America upped their price objective on Consolidated Edison from $84.50 to $85.00 and gave the stock a “buy” rating in a research report on Wednesday, September 26th. Finally, Scotiabank began coverage on Consolidated Edison in a research report on Tuesday, July 24th. They set a “sell” rating and a $32.00 price objective for the company. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $77.18.
Consolidated Edison Company Profile
Consolidated Edison, Inc, through its subsidiaries, engages in regulated electric, gas, and steam delivery businesses in the United States. The company offers electric services to approximately 3.4 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 1,600 customers in parts of Manhattan.
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