Commonwealth Bank of Australia increased its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 2.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 44,910 shares of the utilities provider’s stock after purchasing an additional 1,218 shares during the period. Commonwealth Bank of Australia’s holdings in Consolidated Edison were worth $3,616,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ED. Acadian Asset Management LLC acquired a new position in shares of Consolidated Edison during the 2nd quarter worth about $267,000. Municipal Employees Retirement System of Michigan grew its stake in Consolidated Edison by 99.1% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 19,570 shares of the utilities provider’s stock valued at $1,581,000 after acquiring an additional 9,740 shares in the last quarter. Welch Investments LLC grew its stake in Consolidated Edison by 4.1% during the 2nd quarter. Welch Investments LLC now owns 52,200 shares of the utilities provider’s stock valued at $4,219,000 after acquiring an additional 2,049 shares in the last quarter. Sei Investments Co. grew its stake in Consolidated Edison by 20.4% during the 2nd quarter. Sei Investments Co. now owns 68,530 shares of the utilities provider’s stock valued at $5,539,000 after acquiring an additional 11,609 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. grew its stake in Consolidated Edison by 1.3% during the 2nd quarter. Candriam Luxembourg S.C.A. now owns 23,613 shares of the utilities provider’s stock valued at $1,908,000 after acquiring an additional 297 shares in the last quarter. Hedge funds and other institutional investors own 55.69% of the company’s stock.

Shares of Consolidated Edison, Inc. (NYSE ED) opened at $88.82 on Friday. Consolidated Edison, Inc. has a one year low of $68.85 and a one year high of $89.58. The company has a quick ratio of 0.70, a current ratio of 0.79 and a debt-to-equity ratio of 0.97. The firm has a market cap of $27,608.53, a P/E ratio of 22.20, a PEG ratio of 7.25 and a beta of 0.10.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings results on Thursday, November 2nd. The utilities provider reported $1.47 earnings per share for the quarter, missing the consensus estimate of $1.54 by ($0.07). Consolidated Edison had a net margin of 10.42% and a return on equity of 8.42%. The firm had revenue of $3.21 billion during the quarter, compared to analysts’ expectations of $3.14 billion. During the same period last year, the company earned $1.51 EPS. sell-side analysts forecast that Consolidated Edison, Inc. will post 4.09 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Wednesday, November 15th will be paid a $0.69 dividend. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $2.76 annualized dividend and a dividend yield of 3.11%. Consolidated Edison’s dividend payout ratio (DPR) is 69.00%.

Several analysts recently issued reports on the stock. Zacks Investment Research raised shares of Consolidated Edison from a “hold” rating to a “buy” rating and set a $98.00 price objective for the company in a research note on Tuesday, November 14th. ValuEngine raised shares of Consolidated Edison from a “hold” rating to a “buy” rating in a research note on Friday, November 10th. Bank of America assumed coverage on shares of Consolidated Edison in a research note on Tuesday, October 24th. They set a “buy” rating and a $92.00 price objective for the company. KeyCorp reaffirmed a “hold” rating on shares of Consolidated Edison in a research note on Friday, October 20th. Finally, Morgan Stanley upped their price objective on shares of Consolidated Edison from $78.00 to $80.00 and gave the company an “underweight” rating in a research note on Friday, September 8th. Five analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $80.32.

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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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