Consolidated Edison, Inc. (NYSE:ED) Position Boosted by Hsbc Holdings PLC

Hsbc Holdings PLC lifted its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 0.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,502,523 shares of the utilities provider’s stock after purchasing an additional 11,785 shares during the period. Hsbc Holdings PLC owned about 0.43% of Consolidated Edison worth $134,323,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Retirement Planning Co of New England Inc. raised its stake in Consolidated Edison by 4.2% during the second quarter. Retirement Planning Co of New England Inc. now owns 2,501 shares of the utilities provider’s stock worth $224,000 after acquiring an additional 100 shares during the period. Syon Capital LLC raised its stake in Consolidated Edison by 2.3% during the fourth quarter. Syon Capital LLC now owns 5,954 shares of the utilities provider’s stock worth $542,000 after acquiring an additional 136 shares during the period. G&S Capital LLC raised its stake in Consolidated Edison by 1.6% during the first quarter. G&S Capital LLC now owns 8,747 shares of the utilities provider’s stock worth $794,000 after acquiring an additional 139 shares during the period. Checchi Capital Advisers LLC raised its stake in Consolidated Edison by 2.6% during the second quarter. Checchi Capital Advisers LLC now owns 5,627 shares of the utilities provider’s stock worth $503,000 after acquiring an additional 141 shares during the period. Finally, Center For Asset Management LLC raised its stake in Consolidated Edison by 3.5% during the second quarter. Center For Asset Management LLC now owns 4,358 shares of the utilities provider’s stock worth $390,000 after acquiring an additional 147 shares during the period. Institutional investors own 66.29% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on ED shares. Wells Fargo & Company raised their price target on shares of Consolidated Edison from $97.00 to $105.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. Bank of America raised their price target on shares of Consolidated Edison from $97.00 to $109.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Scotiabank raised their price target on shares of Consolidated Edison from $85.00 to $90.00 and gave the company a “sector underperform” rating in a research note on Tuesday, August 20th. Argus upgraded shares of Consolidated Edison to a “strong-buy” rating in a research note on Friday, June 7th. Finally, Mizuho raised their price target on shares of Consolidated Edison from $93.00 to $95.00 and gave the company a “neutral” rating in a research note on Tuesday, May 28th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $92.65.

Consolidated Edison Trading Down 1.1 %

Consolidated Edison stock opened at $103.41 on Thursday. The firm has a 50 day simple moving average of $99.64 and a 200-day simple moving average of $94.46. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.04 and a quick ratio of 0.97. The stock has a market capitalization of $35.76 billion, a PE ratio of 19.85, a price-to-earnings-growth ratio of 3.50 and a beta of 0.36. Consolidated Edison, Inc. has a 12-month low of $80.46 and a 12-month high of $105.99.

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

Consolidated Edison Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Wednesday, August 14th were issued a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date was Wednesday, August 14th. Consolidated Edison’s payout ratio is 63.72%.

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.