D.A. Davidson & CO. Purchases 124 Shares of Consolidated Edison, Inc. (NYSE:ED)

D.A. Davidson & CO. raised its holdings in shares of Consolidated Edison, Inc. (NYSE:ED) by 1.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 11,142 shares of the utilities provider’s stock after acquiring an additional 124 shares during the period. D.A. Davidson & CO.’s holdings in Consolidated Edison were worth $1,160,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in ED. Clean Energy Transition LLP raised its holdings in shares of Consolidated Edison by 227.9% in the second 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. International Assets Investment Management LLC grew its position in Consolidated Edison by 10,262.1% in the third quarter. International Assets Investment Management LLC now owns 553,546 shares of the utilities provider’s stock valued at $57,641,000 after purchasing an additional 548,204 shares in the last quarter. Acadian Asset Management LLC increased its stake in Consolidated Edison by 302.3% in the 2nd quarter. Acadian Asset Management LLC now owns 709,172 shares of the utilities provider’s stock valued at $63,396,000 after buying an additional 532,893 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in Consolidated Edison by 4,020.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 406,859 shares of the utilities provider’s stock valued at $42,366,000 after buying an additional 396,985 shares during the last quarter. Finally, AMF Tjanstepension AB lifted its position in Consolidated Edison by 243.2% during the 2nd quarter. AMF Tjanstepension AB now owns 497,982 shares of the utilities provider’s stock worth $44,564,000 after buying an additional 352,903 shares in the last quarter. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Price Performance

Shares of ED opened at $100.59 on Monday. The company’s 50-day moving average is $101.75 and its 200-day moving average is $98.21. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93. The firm has a market capitalization of $34.85 billion, a PE ratio of 18.94, a PEG ratio of 3.38 and a beta of 0.36. Consolidated Edison, Inc. has a fifty-two week low of $85.85 and a fifty-two week high of $107.75.

Consolidated Edison (NYSE:ED) last released its quarterly earnings results on Thursday, November 7th. The utilities provider reported $1.68 earnings per share for the quarter, beating the consensus estimate of $1.56 by $0.12. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.70%. The firm had revenue of $4.09 billion for the quarter, compared to analysts’ expectations of $4.02 billion. Equities analysts forecast that Consolidated Edison, Inc. will post 5.34 EPS for the current year.

Consolidated Edison Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Wednesday, November 13th will be paid a $0.83 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $3.32 annualized dividend and a yield of 3.30%. Consolidated Edison’s dividend payout ratio (DPR) is presently 62.52%.

Analyst Ratings Changes

ED has been the subject of several analyst reports. Morgan Stanley decreased their price objective on Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating for the company in a report on Friday, November 22nd. Scotiabank raised their price target on Consolidated Edison from $85.00 to $90.00 and gave the company a “sector underperform” rating in a research note on Tuesday, August 20th. Barclays dropped their price objective on Consolidated Edison from $104.00 to $99.00 and set an “underweight” rating on the stock in a research note on Friday, November 8th. UBS Group increased their price objective on Consolidated Edison from $105.00 to $106.00 and gave the company a “neutral” rating in a report on Friday, September 20th. Finally, Evercore ISI upgraded shares of Consolidated Edison from a “hold” rating to a “strong-buy” rating in a report on Friday, November 8th. Three analysts have rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $99.13.

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.