Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group Cuts Stock Holdings in Consolidated Edison, Inc. (NYSE:ED)

Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group lessened its holdings in Consolidated Edison, Inc. (NYSE:ED) by 1.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,130 shares of the utilities provider’s stock after selling 192 shares during the quarter. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group’s holdings in Consolidated Edison were worth $1,264,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Retirement Planning Co of New England Inc. increased its holdings in Consolidated Edison by 4.2% in the second quarter. Retirement Planning Co of New England Inc. now owns 2,501 shares of the utilities provider’s stock valued at $224,000 after buying an additional 100 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its stake in Consolidated Edison by 13.0% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 868 shares of the utilities provider’s stock valued at $78,000 after purchasing an additional 100 shares in the last quarter. Syon Capital LLC raised its holdings 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 purchasing an additional 136 shares during the last quarter. G&S Capital LLC boosted its position 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 purchasing an additional 139 shares in the last quarter. Finally, Checchi Capital Advisers LLC grew its holdings in Consolidated Edison by 2.6% in the second quarter. Checchi Capital Advisers LLC now owns 5,627 shares of the utilities provider’s stock valued at $503,000 after purchasing an additional 141 shares during the last quarter. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Price Performance

ED opened at $105.17 on Wednesday. Consolidated Edison, Inc. has a 52-week low of $80.46 and a 52-week high of $105.99. The company has a 50 day moving average of $101.58 and a two-hundred day moving average of $95.38. The company has a market cap of $36.37 billion, a P/E ratio of 20.19, a P/E/G ratio of 3.52 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 announced its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.59 earnings per share (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 firm had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.08 billion. During the same period in the prior year, the firm earned $0.61 EPS. On average, analysts expect that Consolidated Edison, Inc. will post 5.3 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The company also recently declared 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 3.16%. The ex-dividend date of this dividend was Wednesday, August 14th. Consolidated Edison’s payout ratio is 63.72%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Scotiabank lifted their price target on Consolidated Edison from $85.00 to $90.00 and gave the stock a “sector underperform” rating in a research note on Tuesday, August 20th. UBS Group upped their price target on shares of Consolidated Edison from $105.00 to $106.00 and gave the company a “neutral” rating in a report on Friday, September 20th. Barclays raised their price objective 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. Argus raised Consolidated Edison to a “strong-buy” rating in a research note on Friday, June 7th. Finally, Guggenheim increased their target price on Consolidated Edison from $88.00 to $91.00 and gave the company a “neutral” rating in a 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 assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $93.81.

Consolidated Edison Company 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.