Ensign Peak Advisors Inc Acquires 27,675 Shares of Consolidated Edison, Inc. (NYSE:ED)

Ensign Peak Advisors Inc grew its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 27.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 127,183 shares of the utilities provider’s stock after buying an additional 27,675 shares during the quarter. Ensign Peak Advisors Inc’s holdings in Consolidated Edison were worth $11,373,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of ED. Sompo Asset Management Co. Ltd. raised its holdings in Consolidated Edison by 23.2% during the 2nd quarter. Sompo Asset Management Co. Ltd. now owns 3,190 shares of the utilities provider’s stock valued at $285,000 after buying an additional 600 shares during the last quarter. Summit Trail Advisors LLC increased its position in shares of Consolidated Edison by 34.1% in the second quarter. Summit Trail Advisors LLC now owns 23,951 shares of the utilities provider’s stock valued at $2,142,000 after acquiring an additional 6,092 shares during the period. Thrivent Financial for Lutherans raised its stake in shares of Consolidated Edison by 5.0% during the second quarter. Thrivent Financial for Lutherans now owns 31,388 shares of the utilities provider’s stock valued at $2,806,000 after acquiring an additional 1,489 shares during the last quarter. Skandinaviska Enskilda Banken AB publ boosted its holdings in shares of Consolidated Edison by 1.3% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 62,141 shares of the utilities provider’s stock worth $5,557,000 after purchasing an additional 800 shares during the period. Finally, AE Wealth Management LLC grew its stake in shares of Consolidated Edison by 23.4% in the second quarter. AE Wealth Management LLC now owns 11,412 shares of the utilities provider’s stock worth $1,020,000 after purchasing an additional 2,163 shares during the last quarter. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Analyst Ratings Changes

ED has been the subject of a number of recent analyst reports. Wells Fargo & Company upped their price target on Consolidated Edison from $97.00 to $105.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. Guggenheim lifted their price target on shares of Consolidated Edison from $88.00 to $91.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Barclays upped their price objective on shares of Consolidated Edison from $92.00 to $98.00 and gave the stock an “underweight” rating in a report on Monday, August 5th. Bank of America lifted their target price 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. Finally, Mizuho increased their price target on shares of Consolidated Edison from $93.00 to $95.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 28th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $93.42.

Consolidated Edison Trading Up 0.6 %

NYSE ED opened at $104.02 on Tuesday. The stock’s fifty day moving average price is $100.36 and its 200-day moving average price is $94.79. The company has a current ratio of 1.04, a quick ratio of 0.97 and a debt-to-equity ratio of 1.08. The stock has a market cap of $35.97 billion, a P/E ratio of 19.97, a P/E/G 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 (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.02. The business 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 in the previous year, the company earned $0.61 earnings per share. As a group, equities analysts forecast 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. Shareholders of record on Wednesday, August 14th were issued a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date was Wednesday, August 14th. Consolidated Edison’s payout ratio is 63.72%.

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.