Aldebaran Financial Inc. continued to hold its stake in shares of Consolidated Edison Inc (NYSE:ED) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,650 shares of the utilities provider’s stock at the end of the first quarter. Aldebaran Financial Inc.’s holdings in Consolidated Edison were worth $439,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the company. BlackRock Inc. increased its stake in shares of Consolidated Edison by 1,771.1% in the first quarter. BlackRock Inc. now owns 24,104,499 shares of the utilities provider’s stock worth $1,871,955,000 after buying an additional 22,816,233 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Consolidated Edison by 34.1% in the first quarter. Bank of New York Mellon Corp now owns 3,478,494 shares of the utilities provider’s stock worth $270,138,000 after buying an additional 884,788 shares during the last quarter. Vanguard Group Inc. boosted its position in Consolidated Edison by 3.5% in the first quarter. Vanguard Group Inc. now owns 21,304,464 shares of the utilities provider’s stock worth $1,654,504,000 after buying an additional 725,857 shares during the last quarter. Renaissance Technologies LLC boosted its position in Consolidated Edison by 145.9% in the first quarter. Renaissance Technologies LLC now owns 1,178,300 shares of the utilities provider’s stock worth $91,507,000 after buying an additional 699,200 shares during the last quarter. Finally, Morgan Stanley boosted its position in Consolidated Edison by 28.0% in the first quarter. Morgan Stanley now owns 2,971,665 shares of the utilities provider’s stock worth $230,778,000 after buying an additional 649,615 shares during the last quarter. 55.61% of the stock is owned by institutional investors and hedge funds.

Consolidated Edison Inc (ED) traded up 0.67% during mid-day trading on Tuesday, reaching $84.06. 1,385,784 shares of the company’s stock traded hands. Consolidated Edison Inc has a 12-month low of $68.76 and a 12-month high of $85.13. The company has a market cap of $25.67 billion, a P/E ratio of 19.36 and a beta of 0.08. The stock has a 50 day moving average of $82.18 and a 200 day moving average of $78.94.

Consolidated Edison (NYSE:ED) last released its earnings results on Thursday, August 3rd. The utilities provider reported $0.58 EPS for the quarter, missing the consensus estimate of $0.61 by $0.03. Consolidated Edison had a return on equity of 8.59% and a net margin of 10.57%. The company had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.79 billion. During the same period last year, the firm posted $0.60 EPS. On average, equities research analysts predict that Consolidated Edison Inc will post $4.09 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Wednesday, August 16th will be issued a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 3.28%. The ex-dividend date is Monday, August 14th. Consolidated Edison’s dividend payout ratio (DPR) is presently 66.67%.

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A number of research analysts have weighed in on ED shares. Deutsche Bank AG boosted their target price on shares of Consolidated Edison from $72.00 to $74.00 and gave the company a “hold” rating in a research note on Tuesday, April 11th. Barclays PLC reiterated an “equal weight” rating and issued a $82.00 target price (up from $76.00) on shares of Consolidated Edison in a research note on Sunday, April 23rd. BMO Capital Markets reiterated a “hold” rating and issued a $80.00 target price on shares of Consolidated Edison in a research note on Friday, May 5th. UBS AG boosted their target price on shares of Consolidated Edison from $72.00 to $75.00 and gave the company a “sell” rating in a research note on Monday, May 8th. Finally, Morgan Stanley boosted their target price on shares of Consolidated Edison from $77.00 to $78.00 and gave the company an “underweight” rating in a research note on Monday, May 8th. Five research analysts have rated the stock with a sell rating and ten have assigned a hold rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $76.82.

In related news, Director Linda S. Sanford bought 900 shares of the stock in a transaction dated Wednesday, May 17th. The shares were purchased at an average price of $79.74 per share, with a total value of $71,766.00. Following the completion of the acquisition, the director now owns 8,748 shares of the company’s stock, valued at $697,565.52. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders bought 1,319 shares of company stock worth $106,510 in the last three months. Insiders own 0.20% of the company’s stock.

Consolidated Edison Company Profile

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), Con Edison Clean Energy Businesses, Inc (the Clean Energy Businesses) and Con Edison Transmission, Inc (Con Edison Transmission).

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

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