Unigestion Holding SA Acquires 10,657 Shares of Consolidated Edison, Inc. (NYSE:ED)

Unigestion Holding SA increased its holdings in Consolidated Edison, Inc. (NYSE:EDFree Report) by 200.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,971 shares of the utilities provider’s stock after buying an additional 10,657 shares during the period. Unigestion Holding SA’s holdings in Consolidated Edison were worth $1,453,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. Financial Gravity Asset Management Inc. boosted its holdings in Consolidated Edison by 215.6% in the third quarter. Financial Gravity Asset Management Inc. now owns 284 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 194 shares during the last quarter. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Consolidated Edison during the 4th quarter worth about $29,000. Tidemark LLC acquired a new position in shares of Consolidated Edison during the 4th quarter worth about $29,000. Bruce G. Allen Investments LLC acquired a new position in shares of Consolidated Edison during the 4th quarter worth about $31,000. Finally, CVA Family Office LLC acquired a new position in shares of Consolidated Edison during the 4th quarter worth about $32,000. Institutional investors own 66.29% of the company’s stock.

Analyst Ratings Changes

ED has been the subject of several research reports. Barclays upped their price objective on shares of Consolidated Edison from $89.00 to $97.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 7th. Royal Bank of Canada dropped their price objective on shares of Consolidated Edison from $94.00 to $93.00 and set a “sector perform” rating for the company in a research note on Friday, February 16th. Argus raised shares of Consolidated Edison to a “strong-buy” rating in a research note on Friday. Morgan Stanley upped their price objective on shares of Consolidated Edison from $73.00 to $80.00 and gave the company an “underweight” rating in a research note on Tuesday, May 28th. Finally, Wells Fargo & Company upped their price objective on shares of Consolidated Edison from $93.00 to $97.00 and gave the company an “equal weight” rating in a research note on Friday, May 3rd. Three analysts have rated the stock with a sell rating, eight have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $89.58.

Check Out Our Latest Stock Analysis on ED

Consolidated Edison Stock Performance

NYSE:ED opened at $92.32 on Tuesday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.92 and a current ratio of 0.99. The stock has a market capitalization of $31.93 billion, a P/E ratio of 17.72, a PEG ratio of 2.32 and a beta of 0.35. The company has a 50 day moving average price of $93.39 and a 200 day moving average price of $91.21. Consolidated Edison, Inc. has a fifty-two week low of $80.46 and a fifty-two week high of $98.85.

Consolidated Edison (NYSE:EDGet Free Report) last posted its quarterly earnings data on Thursday, May 2nd. The utilities provider reported $2.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.26. The firm had revenue of $4.28 billion during the quarter, compared to analysts’ expectations of $4.40 billion. Consolidated Edison had a net margin of 12.43% and a return on equity of 8.79%. The firm’s quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter last year, the company posted $1.83 EPS. Equities research analysts forecast that Consolidated Edison, Inc. will post 5.34 EPS for the current year.

Consolidated Edison Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Wednesday, May 15th will be issued a dividend of $0.83 per share. The ex-dividend date is Tuesday, May 14th. This represents a $3.32 dividend on an annualized basis and a yield of 3.60%. Consolidated Edison’s dividend payout ratio (DPR) is presently 63.72%.

Consolidated Edison Company Profile

(Free Report)

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.

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

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