Consolidated Edison, Inc. (ED) Position Increased by Eaton Vance Management

Eaton Vance Management increased its stake in Consolidated Edison, Inc. (NYSE:ED) by 10.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 66,981 shares of the utilities provider’s stock after purchasing an additional 6,114 shares during the period. Eaton Vance Management’s holdings in Consolidated Edison were worth $5,103,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Monument Capital Management increased its holdings in shares of Consolidated Edison by 12.5% during the 3rd quarter. Monument Capital Management now owns 28,894 shares of the utilities provider’s stock valued at $2,201,000 after purchasing an additional 3,218 shares in the last quarter. Standard Life Aberdeen plc increased its holdings in shares of Consolidated Edison by 5.0% during the 3rd quarter. Standard Life Aberdeen plc now owns 209,895 shares of the utilities provider’s stock valued at $15,992,000 after purchasing an additional 9,956 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of Consolidated Edison by 1.1% during the 3rd quarter. Franklin Resources Inc. now owns 1,337,039 shares of the utilities provider’s stock valued at $101,870,000 after purchasing an additional 14,455 shares in the last quarter. Blair William & Co. IL increased its holdings in shares of Consolidated Edison by 8.8% during the 3rd quarter. Blair William & Co. IL now owns 25,020 shares of the utilities provider’s stock valued at $1,906,000 after purchasing an additional 2,025 shares in the last quarter. Finally, Baird Financial Group Inc. increased its holdings in shares of Consolidated Edison by 3.7% during the 3rd quarter. Baird Financial Group Inc. now owns 20,915 shares of the utilities provider’s stock valued at $1,585,000 after purchasing an additional 754 shares in the last quarter. Institutional investors own 58.03% of the company’s stock.

Several equities analysts have recently weighed in on the stock. ValuEngine raised shares of Consolidated Edison from a “hold” rating to a “buy” rating in a report on Wednesday. Wells Fargo & Co lifted their target price on shares of Consolidated Edison from $81.00 to $83.00 and gave the company a “market perform” rating in a report on Monday, September 17th. Citigroup lifted their target price on shares of Consolidated Edison from $79.00 to $80.00 and gave the company a “neutral” rating in a report on Tuesday, October 16th. Bank of America cut their target price on shares of Consolidated Edison from $87.00 to $83.00 and set a “buy” rating for the company in a report on Friday, November 2nd. Finally, Barclays lifted their target price on shares of Consolidated Edison from $79.00 to $83.00 and gave the company a “hold” rating in a report on Monday, November 19th. Four analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. Consolidated Edison currently has an average rating of “Hold” and a consensus target price of $77.36.

Shares of NYSE ED opened at $82.46 on Friday. The firm has a market capitalization of $25.43 billion, a P/E ratio of 18.81, a P/E/G ratio of 4.75 and a beta of 0.04. The company has a quick ratio of 0.56, a current ratio of 0.62 and a debt-to-equity ratio of 0.97. Consolidated Edison, Inc. has a one year low of $71.12 and a one year high of $89.70.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Thursday, November 1st. The utilities provider reported $1.57 EPS 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 analyst estimates of $3.17 billion. Consolidated Edison had a net margin of 12.60% and a return on equity of 8.64%. During the same quarter in the previous year, the firm earned $1.47 EPS. Equities research analysts expect that Consolidated Edison, Inc. will post 4.29 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, December 17th. Investors of record on Wednesday, November 14th will be issued a $0.715 dividend. This represents a $2.86 annualized dividend and a yield of 3.47%. The ex-dividend date of this dividend is Tuesday, November 13th. Consolidated Edison’s payout ratio is presently 69.93%.

ILLEGAL ACTIVITY WARNING: “Consolidated Edison, Inc. (ED) Position Increased by Eaton Vance Management” was first published by American Banking News and is the sole property of of American Banking News. If you are viewing this story on another publication, it was copied illegally and reposted in violation of U.S. & international trademark and copyright laws. The legal version of this story can be viewed at https://www.americanbankingnews.com/2018/12/08/consolidated-edison-inc-ed-position-increased-by-eaton-vance-management.html.

About Consolidated Edison

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.

See Also: Stock Symbols and CUSIP Explained

Want to see what other hedge funds are holding ED? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Consolidated Edison, Inc. (NYSE:ED).

Institutional Ownership by Quarter for Consolidated Edison (NYSE:ED)

Receive News & Ratings for Consolidated Edison Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Consolidated Edison and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply