Northwest & Ethical Investments L.P. Has $6.91 Million Position in Consolidated Edison, Inc. (NYSE:ED)

Northwest & Ethical Investments L.P. lessened its holdings in shares of Consolidated Edison, Inc. (NYSE:ED) by 17.4% in the third quarter, according to its most recent filing with the SEC. The firm owned 66,332 shares of the utilities provider’s stock after selling 13,935 shares during the period. Northwest & Ethical Investments L.P.’s holdings in Consolidated Edison were worth $6,907,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bayesian Capital Management LP bought a new stake in shares of Consolidated Edison in the 1st quarter valued at about $287,000. Tidal Investments LLC increased its stake in Consolidated Edison by 5.5% in the first quarter. Tidal Investments LLC now owns 7,204 shares of the utilities provider’s stock valued at $654,000 after purchasing an additional 375 shares in the last quarter. LRI Investments LLC acquired a new stake in Consolidated Edison in the first quarter worth $75,000. Swedbank AB bought a new position in shares of Consolidated Edison during the first quarter worth $30,515,000. Finally, Cetera Investment Advisers boosted its position in shares of Consolidated Edison by 442.3% during the first quarter. Cetera Investment Advisers now owns 87,922 shares of the utilities provider’s stock worth $7,984,000 after purchasing an additional 71,710 shares in the last quarter. Institutional investors own 66.29% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on ED shares. Citigroup upgraded shares of Consolidated Edison from a “neutral” rating to a “buy” rating and upped their price objective for the company from $103.00 to $116.00 in a research report on Tuesday, October 15th. Barclays lowered their price target on Consolidated Edison from $104.00 to $99.00 and set an “underweight” rating for the company in a report on Friday, November 8th. Evercore ISI upgraded Consolidated Edison from a “hold” rating to a “strong-buy” rating in a report on Friday, November 8th. Guggenheim increased their target price on Consolidated Edison from $88.00 to $91.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Finally, UBS Group lifted their price target on shares of Consolidated Edison from $105.00 to $106.00 and gave the company a “neutral” rating in a research note on Friday, September 20th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Consolidated Edison presently has an average rating of “Hold” and an average price target of $98.19.

Consolidated Edison Stock Performance

Shares of ED opened at $101.58 on Friday. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.07. Consolidated Edison, Inc. has a 12 month low of $85.85 and a 12 month high of $107.75. The firm has a fifty day simple moving average of $101.80 and a 200 day simple moving average of $98.17. The stock has a market capitalization of $35.19 billion, a price-to-earnings ratio of 19.13, a PEG ratio of 3.34 and a beta of 0.36.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings data on Thursday, November 7th. The utilities provider reported $1.68 EPS for the quarter, topping analysts’ consensus estimates of $1.56 by $0.12. The company had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $4.02 billion. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.70%. Research analysts forecast that Consolidated Edison, Inc. will post 5.33 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Wednesday, November 13th will be paid a $0.83 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $3.32 dividend on an annualized basis and a yield of 3.27%. Consolidated Edison’s dividend payout ratio is 62.52%.

About Consolidated Edison

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.