Vanguard Personalized Indexing Management LLC Increases Stake in Consolidated Edison, Inc. (NYSE:ED)

Vanguard Personalized Indexing Management LLC increased its holdings in shares of Consolidated Edison, Inc. (NYSE:ED) by 12.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,457 shares of the utilities provider’s stock after acquiring an additional 3,486 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Consolidated Edison were worth $2,807,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Meiji Yasuda Asset Management Co Ltd. boosted its stake in Consolidated Edison by 8.0% during the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 18,241 shares of the utilities provider’s stock worth $1,631,000 after acquiring an additional 1,344 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its stake in shares of Consolidated Edison by 6.3% in the second quarter. Mercer Global Advisors Inc. ADV now owns 259,178 shares of the utilities provider’s stock worth $23,165,000 after buying an additional 15,421 shares in the last quarter. Frisch Financial Group Inc. lifted its stake in shares of Consolidated Edison by 100.3% in the second quarter. Frisch Financial Group Inc. now owns 14,034 shares of the utilities provider’s stock worth $1,255,000 after buying an additional 7,027 shares in the last quarter. Excalibur Management Corp lifted its stake in shares of Consolidated Edison by 4.6% in the second quarter. Excalibur Management Corp now owns 13,642 shares of the utilities provider’s stock worth $1,220,000 after buying an additional 600 shares in the last quarter. Finally, Citizens Financial Group Inc. RI lifted its stake in shares of Consolidated Edison by 82.7% in the second quarter. Citizens Financial Group Inc. RI now owns 14,353 shares of the utilities provider’s stock worth $1,283,000 after buying an additional 6,495 shares in the last quarter. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Stock Up 1.2 %

Shares of ED stock opened at $103.35 on Friday. Consolidated Edison, Inc. has a 12 month low of $80.46 and a 12 month high of $105.99. The stock has a market cap of $35.74 billion, a P/E ratio of 19.84, a P/E/G ratio of 3.50 and a beta of 0.36. 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 company has a 50 day simple moving average of $100.08 and a two-hundred day simple moving average of $94.62.

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

Consolidated Edison Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Wednesday, August 14th were paid a $0.83 dividend. The ex-dividend date of this dividend was 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%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Argus upgraded shares of Consolidated Edison to a “strong-buy” rating in a research note on Friday, June 7th. Wells Fargo & Company upped their target price on shares of Consolidated Edison from $97.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. Guggenheim upped their target price on shares of Consolidated Edison from $88.00 to $91.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Morgan Stanley upped their target price on shares of Consolidated Edison from $75.00 to $82.00 and gave the stock an “underweight” rating in a research note on Friday, August 23rd. Finally, Bank of America boosted their price objective on shares of Consolidated Edison from $97.00 to $109.00 and gave the company a “buy” rating in a report on Monday, August 5th. Four equities 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 assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $93.42.

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.