Global X Management Co. LLC boosted its stake in shares of Consolidated Edison Inc. (NYSE:ED) by 16.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 99,367 shares of the company’s stock after buying an additional 14,091 shares during the period. Global X Management Co. LLC’s holdings in Consolidated Edison were worth $7,482,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. United Asset Strategies Inc. raised its stake in Consolidated Edison by 1.1% in the third quarter. United Asset Strategies Inc. now owns 6,777 shares of the company’s stock worth $510,000 after buying an additional 75 shares during the last quarter. Sei Investments Co. raised its stake in Consolidated Edison by 26.4% in the third quarter. Sei Investments Co. now owns 65,836 shares of the company’s stock worth $4,956,000 after buying an additional 13,761 shares during the last quarter. UBS Asset Management Americas Inc. raised its stake in Consolidated Edison by 0.6% in the third quarter. UBS Asset Management Americas Inc. now owns 1,369,571 shares of the company’s stock worth $103,129,000 after buying an additional 7,885 shares during the last quarter. Coconut Grove Bank raised its stake in Consolidated Edison by 25.5% in the third quarter. Coconut Grove Bank now owns 1,647 shares of the company’s stock worth $124,000 after buying an additional 335 shares during the last quarter. Finally, Daiwa Securities Group Inc. raised its stake in Consolidated Edison by 7.6% in the third quarter. Daiwa Securities Group Inc. now owns 48,700 shares of the company’s stock worth $3,667,000 after buying an additional 3,450 shares during the last quarter. 53.11% of the stock is owned by institutional investors and hedge funds.

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

Shares of Consolidated Edison Inc. (NYSE:ED) traded down 0.01% during mid-day trading on Tuesday, reaching $72.64. The company had a trading volume of 1,447,408 shares. The stock has a market capitalization of $22.14 billion and a P/E ratio of 17.90. Consolidated Edison Inc. has a 52-week low of $60.30 and a 52-week high of $81.88. The company’s 50-day moving average is $72.38 and its 200 day moving average is $75.61.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Wednesday, November 16th will be given a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 3.69%. The ex-dividend date is Monday, November 14th. Consolidated Edison’s payout ratio is 66.34%.

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A number of equities research analysts recently issued reports on ED shares. Morgan Stanley set a $69.00 target price on Consolidated Edison and gave the company a “sell” rating in a research note on Wednesday, September 21st. Jefferies Group raised Consolidated Edison from a “hold” rating to a “buy” rating and set a $82.00 price target on the stock in a research note on Wednesday, September 14th. Vetr lowered Consolidated Edison from a “hold” rating to a “sell” rating and set a $73.97 price target on the stock. in a research note on Tuesday, September 6th. Mizuho increased their price target on Consolidated Edison from $72.00 to $75.00 and gave the stock a “neutral” rating in a research note on Monday, August 8th. Finally, Zacks Investment Research lowered Consolidated Edison from a “hold” rating to a “sell” rating in a research note on Wednesday, September 21st. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $74.36.

About Consolidated Edison

Consolidated Edison, Inc (Con Edison) is a holding company. The Company operates through its subsidiaries, which include Consolidated Edison Company of New York, Inc (CECONY), Orange and Rockland Utilities, Inc (O&R) and Con Edison Transmission, Inc It owns competitive energy businesses. The Company also owns Con Edison Transmission, Inc (Con Edison Transmission), which invests in electric and gas transmission projects through its subsidiaries, Consolidated Edison Transmission, LLC (CET Electric) and Con Edison Gas Midstream, LLC (CET Gas).

5 Day Chart for NYSE:ED

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