Van ECK Associates Corp Boosts Holdings in Consolidated Edison, Inc. (NYSE:ED)

Van ECK Associates Corp boosted its holdings in shares of Consolidated Edison, Inc. (NYSE:ED) by 2.9% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 95,927 shares of the utilities provider’s stock after buying an additional 2,681 shares during the quarter. Van ECK Associates Corp’s holdings in Consolidated Edison were worth $10,303,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. ProShare Advisors LLC lifted its stake in shares of Consolidated Edison by 6.6% during the first quarter. ProShare Advisors LLC now owns 2,000,741 shares of the utilities provider’s stock worth $181,687,000 after buying an additional 123,654 shares during the period. Hsbc Holdings PLC lifted its position in Consolidated Edison by 0.8% during the 2nd quarter. Hsbc Holdings PLC now owns 1,502,523 shares of the utilities provider’s stock worth $134,323,000 after acquiring an additional 11,785 shares during the period. Dimensional Fund Advisors LP lifted its position in Consolidated Edison by 11.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,273,115 shares of the utilities provider’s stock worth $113,845,000 after acquiring an additional 125,859 shares during the period. Clean Energy Transition LLP grew its stake in Consolidated Edison by 227.9% during the 2nd quarter. Clean Energy Transition LLP now owns 897,553 shares of the utilities provider’s stock valued at $80,259,000 after purchasing an additional 623,787 shares during the last quarter. Finally, AQR Capital Management LLC increased its holdings in shares of Consolidated Edison by 5.5% in the second quarter. AQR Capital Management LLC now owns 709,713 shares of the utilities provider’s stock valued at $63,413,000 after purchasing an additional 36,991 shares during the period. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on ED shares. Guggenheim upped their target price on Consolidated Edison from $88.00 to $91.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Scotiabank upped their price objective on shares of Consolidated Edison from $85.00 to $90.00 and gave the company a “sector underperform” rating in a report on Tuesday, August 20th. Wells Fargo & Company increased their price objective 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. Bank of America boosted their target price on shares of Consolidated Edison from $97.00 to $109.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Finally, Morgan Stanley increased their price target on Consolidated Edison from $82.00 to $87.00 and gave the stock an “underweight” rating in a research report on Wednesday, September 25th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $98.73.

Consolidated Edison Stock Down 0.9 %

Shares of NYSE ED opened at $98.96 on Thursday. The firm has a market cap of $34.26 billion, a price-to-earnings ratio of 19.25, a price-to-earnings-growth ratio of 3.37 and a beta of 0.36. The company’s 50-day simple moving average is $103.48 and its 200-day simple moving average is $97.85. 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, Inc. has a 52-week low of $85.85 and a 52-week high of $107.75.

Consolidated Edison Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Wednesday, November 13th will be paid a dividend of $0.83 per share. The ex-dividend date is Wednesday, November 13th. This represents a $3.32 annualized dividend and a yield of 3.35%. Consolidated Edison’s dividend payout ratio (DPR) is currently 64.59%.

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.