Consolidated Edison, Inc. (NYSE:ED) Shares Sold by Caprock Group LLC

Caprock Group LLC trimmed its position in shares of Consolidated Edison, Inc. (NYSE:ED) by 10.5% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,388 shares of the utilities provider’s stock after selling 396 shares during the period. Caprock Group LLC’s holdings in Consolidated Edison were worth $303,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of ED. Norges Bank purchased a new stake in shares of Consolidated Edison during the fourth quarter worth $243,511,000. Acadian Asset Management LLC increased its holdings in Consolidated Edison by 302.3% during the 2nd quarter. Acadian Asset Management LLC now owns 709,172 shares of the utilities provider’s stock worth $63,396,000 after purchasing an additional 532,893 shares during the period. AMF Tjanstepension AB raised its position in Consolidated Edison by 243.2% in the 2nd quarter. AMF Tjanstepension AB now owns 497,982 shares of the utilities provider’s stock valued at $44,564,000 after purchasing an additional 352,903 shares in the last quarter. Swedbank AB purchased a new position in shares of Consolidated Edison in the 1st quarter valued at about $30,515,000. Finally, Clean Energy Transition LLP acquired a new position in shares of Consolidated Edison during the first quarter worth about $24,861,000. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

Consolidated Edison Trading Down 0.4 %

NYSE ED opened at $103.38 on Friday. Consolidated Edison, Inc. has a 52-week low of $80.46 and a 52-week high of $105.99. The firm has a 50-day moving average price of $98.42 and a 200 day moving average price of $93.92. The stock has a market capitalization of $35.75 billion, a P/E ratio of 19.84, a P/E/G ratio of 3.49 and a beta of 0.36. The company has a quick ratio of 0.97, a current ratio of 1.04 and a debt-to-equity ratio of 1.08.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.59 EPS for the quarter, beating the consensus estimate of $0.57 by $0.02. Consolidated Edison had a return on equity of 8.67% and a net margin of 12.03%. The business had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.08 billion. During the same period last year, the firm earned $0.61 EPS. Equities research analysts expect that Consolidated Edison, Inc. will post 5.31 EPS for the current year.

Consolidated Edison Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Wednesday, August 14th will be paid a dividend of $0.83 per share. The ex-dividend date is Wednesday, August 14th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.21%. Consolidated Edison’s dividend payout ratio (DPR) is presently 63.72%.

Analysts Set New Price Targets

ED has been the subject of a number of recent research reports. Argus upgraded shares of Consolidated Edison to a “strong-buy” rating in a research note on Friday, June 7th. Barclays boosted their target price on shares of Consolidated Edison from $92.00 to $98.00 and gave the stock an “underweight” rating in a research note on Monday, August 5th. Scotiabank raised their price target on Consolidated Edison from $85.00 to $90.00 and gave the company a “sector underperform” rating in a research note on Tuesday, August 20th. Wells Fargo & Company upped their price objective on Consolidated Edison from $97.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. Finally, Guggenheim raised their target price on Consolidated Edison from $88.00 to $91.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $92.65.

Consolidated Edison Profile

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.