National Bank of Canada FI Purchases 23,850 Shares of Consolidated Edison, Inc. (NYSE:ED)

National Bank of Canada FI grew its position in Consolidated Edison, Inc. (NYSE:ED) by 20.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 137,752 shares of the utilities provider’s stock after acquiring an additional 23,850 shares during the period. National Bank of Canada FI’s holdings in Consolidated Edison were worth $12,233,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Consolidated Edison in the fourth quarter valued at approximately $243,511,000. ProShare Advisors LLC increased its holdings in shares of Consolidated Edison by 6.6% in the first quarter. ProShare Advisors LLC now owns 2,000,741 shares of the utilities provider’s stock valued at $181,687,000 after purchasing an additional 123,654 shares in the last quarter. Hsbc Holdings PLC increased its holdings in shares of Consolidated Edison by 11.2% in the fourth quarter. Hsbc Holdings PLC now owns 1,386,743 shares of the utilities provider’s stock valued at $126,042,000 after purchasing an additional 139,370 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Consolidated Edison by 0.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,126,595 shares of the utilities provider’s stock valued at $102,484,000 after purchasing an additional 6,176 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in shares of Consolidated Edison by 14.6% in the first quarter. BNP Paribas Financial Markets now owns 720,573 shares of the utilities provider’s stock valued at $65,435,000 after purchasing an additional 91,559 shares in the last quarter. Institutional investors own 66.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on ED shares. Guggenheim raised 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. UBS Group raised their price target on shares of Consolidated Edison from $92.00 to $96.00 and gave the company a “neutral” rating in a report on Friday, July 19th. Wells Fargo & Company lifted their target price on shares of Consolidated Edison from $97.00 to $105.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. Barclays lifted their target price 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. Finally, Morgan Stanley lifted their target price on shares of Consolidated Edison from $75.00 to $82.00 and gave the stock an “underweight” rating in a report on Friday, August 23rd. Four analysts have rated the stock with a sell rating, eight have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $92.65.

Consolidated Edison Trading Down 0.5 %

Shares of NYSE ED opened at $103.28 on Monday. The company’s fifty day moving average is $97.19 and its 200-day moving average is $93.55. The stock has a market cap of $35.72 billion, a price-to-earnings ratio of 19.82, a P/E/G ratio of 3.43 and a beta of 0.36. Consolidated Edison, Inc. has a twelve month low of $80.46 and a twelve month high of $105.99. 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 for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. The company had revenue of $3.22 billion for 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 last year, the firm posted $0.61 earnings per share. Equities research analysts predict that Consolidated Edison, Inc. will post 5.3 EPS for the current year.

Consolidated Edison Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Wednesday, August 14th will be given a $0.83 dividend. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $3.32 annualized dividend and a yield of 3.21%. Consolidated Edison’s dividend payout ratio is currently 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.