Consolidated Edison, Inc. (NYSE:ED) Shares Purchased by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lifted its position in Consolidated Edison, Inc. (NYSE:ED) by 8.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 241,107 shares of the utilities provider’s stock after purchasing an additional 18,776 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.07% of Consolidated Edison worth $21,560,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Massmutual Trust Co. FSB ADV boosted its position in shares of Consolidated Edison by 2,486.2% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 21,776 shares of the utilities provider’s stock valued at $1,977,000 after purchasing an additional 20,934 shares during the period. Tower Research Capital LLC TRC boosted its position in shares of Consolidated Edison by 35.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 47,466 shares of the utilities provider’s stock valued at $4,318,000 after purchasing an additional 12,307 shares during the period. Sei Investments Co. boosted its position in shares of Consolidated Edison by 57.4% in the 1st quarter. Sei Investments Co. now owns 244,404 shares of the utilities provider’s stock valued at $22,193,000 after purchasing an additional 89,080 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in shares of Consolidated Edison by 153.9% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 245,802 shares of the utilities provider’s stock valued at $22,321,000 after purchasing an additional 148,988 shares during the period. Finally, Mizuho Markets Americas LLC boosted its position in shares of Consolidated Edison by 121.1% in the 1st quarter. Mizuho Markets Americas LLC now owns 113,675 shares of the utilities provider’s stock valued at $10,323,000 after purchasing an additional 62,260 shares during the period. 66.29% of the stock is owned by institutional investors and hedge funds.

Consolidated Edison Stock Performance

NYSE ED opened at $105.17 on Wednesday. Consolidated Edison, Inc. has a 1-year low of $80.46 and a 1-year high of $105.99. The company has a market capitalization of $36.37 billion, a P/E ratio of 20.19, a PEG ratio of 3.52 and a beta of 0.36. The business has a 50 day moving average price of $101.58 and a 200 day moving average price of $95.38. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.04 and a quick ratio of 0.97.

Consolidated Edison (NYSE:ED) last released its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.59 earnings per share 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 firm had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.08 billion. During the same period last year, the business posted $0.61 EPS. Sell-side analysts expect that Consolidated Edison, Inc. will post 5.3 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Wednesday, August 14th were paid a $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 3.16%. The ex-dividend date was Wednesday, August 14th. Consolidated Edison’s payout ratio is currently 63.72%.

Analyst Ratings Changes

ED has been the subject of a number of recent research reports. Barclays increased their price objective on Consolidated Edison from $92.00 to $98.00 and gave the stock an “underweight” rating in a research report on Monday, August 5th. Argus raised Consolidated Edison to a “strong-buy” rating in a research report on Friday, June 7th. Bank of America increased their price objective on Consolidated Edison from $97.00 to $109.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Morgan Stanley increased their price objective on Consolidated Edison from $82.00 to $87.00 and gave the stock an “underweight” rating in a research report on Wednesday, September 25th. Finally, Wells Fargo & Company increased 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. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $93.81.

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.