Greenleaf Trust Acquires 1,215 Shares of Consolidated Edison, Inc. (NYSE:ED)

Greenleaf Trust grew its holdings in shares of Consolidated Edison, Inc. (NYSE:ED) by 17.5% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 8,147 shares of the utilities provider’s stock after purchasing an additional 1,215 shares during the period. Greenleaf Trust’s holdings in Consolidated Edison were worth $848,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Aquila Investment Management LLC bought a new stake in shares of Consolidated Edison in the 3rd quarter valued at about $521,000. Eastern Bank bought a new stake in shares of Consolidated Edison in the 3rd quarter valued at about $435,000. Sequoia Financial Advisors LLC raised its holdings in shares of Consolidated Edison by 22.7% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 12,535 shares of the utilities provider’s stock valued at $1,305,000 after purchasing an additional 2,317 shares during the period. Ledyard National Bank raised its holdings in shares of Consolidated Edison by 10.5% in the 3rd quarter. Ledyard National Bank now owns 6,605 shares of the utilities provider’s stock valued at $688,000 after purchasing an additional 630 shares during the period. Finally, Venture Visionary Partners LLC raised its holdings in shares of Consolidated Edison by 9.9% in the 3rd quarter. Venture Visionary Partners LLC now owns 5,618 shares of the utilities provider’s stock valued at $585,000 after purchasing an additional 504 shares during the period. 66.29% of the stock is owned by institutional investors.

Consolidated Edison Trading Down 0.4 %

ED opened at $107.00 on Friday. Consolidated Edison, Inc. has a twelve month low of $85.85 and a twelve month high of $107.75. The company has a quick ratio of 0.97, a current ratio of 1.04 and a debt-to-equity ratio of 1.08. The company has a fifty day moving average of $103.10 and a 200-day moving average of $96.98. The stock has a market cap of $37.00 billion, a PE ratio of 20.54, a price-to-earnings-growth ratio of 3.46 and a beta of 0.36.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.02. The company had revenue of $3.22 billion during 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 in the prior year, the company posted $0.61 earnings per share. On average, sell-side analysts predict that Consolidated Edison, Inc. will post 5.3 EPS for the current year.

Consolidated Edison Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Wednesday, November 13th will be issued a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date is Wednesday, November 13th. Consolidated Edison’s payout ratio is 63.72%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ED. Morgan Stanley upped their target price on shares of Consolidated Edison from $82.00 to $87.00 and gave the company an “underweight” rating in a report on Wednesday, September 25th. Bank of America upped their price target on shares of Consolidated Edison from $97.00 to $109.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Jefferies Financial Group assumed coverage on shares of Consolidated Edison in a research note on Wednesday, October 9th. They issued a “hold” rating and a $108.00 price target on the stock. Barclays upped their price target on shares of Consolidated Edison from $98.00 to $104.00 and gave the company an “underweight” rating in a research note on Monday. Finally, Scotiabank upped their price target on shares of Consolidated Edison from $85.00 to $90.00 and gave the company a “sector underperform” rating in a research note on Tuesday, August 20th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Consolidated Edison has a consensus rating of “Hold” and an average price target of $98.73.

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.