Consolidated Edison, Inc. (NYSE:ED) Shares Purchased by M&T Bank Corp

M&T Bank Corp raised its holdings in Consolidated Edison, Inc. (NYSE:ED) by 5.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,398 shares of the utilities provider’s stock after buying an additional 2,795 shares during the period. M&T Bank Corp’s holdings in Consolidated Edison were worth $6,081,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Capital Performance Advisors LLP acquired a new stake in shares of Consolidated Edison during the 3rd quarter worth about $27,000. Ashton Thomas Securities LLC purchased a new position in Consolidated Edison in the third quarter valued at approximately $30,000. Future Financial Wealth Managment LLC acquired a new stake in Consolidated Edison during the third quarter worth approximately $55,000. FSA Wealth Management LLC purchased a new stake in shares of Consolidated Edison during the 3rd quarter worth approximately $55,000. Finally, Webster Bank N. A. boosted its holdings in shares of Consolidated Edison by 189.5% in the 3rd quarter. Webster Bank N. A. now owns 579 shares of the utilities provider’s stock valued at $60,000 after buying an additional 379 shares in the last quarter. 66.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. UBS Group boosted their price target on shares of Consolidated Edison from $105.00 to $106.00 and gave the company a “neutral” rating in a research report on Friday, September 20th. Citigroup raised Consolidated Edison from a “neutral” rating to a “buy” rating and boosted their target price for the company from $103.00 to $116.00 in a report on Tuesday, October 15th. Morgan Stanley dropped their price target on Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating on the stock in a research note on Friday, November 22nd. Barclays reduced their price objective on Consolidated Edison from $104.00 to $99.00 and set an “underweight” rating for the company in a research note on Friday, November 8th. Finally, Jefferies Financial Group assumed coverage on shares of Consolidated Edison in a research report on Wednesday, October 9th. They set a “hold” rating and a $108.00 target price on the stock. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Consolidated Edison has a consensus rating of “Hold” and a consensus target price of $99.96.

Consolidated Edison Stock Performance

Shares of ED opened at $90.03 on Monday. The stock has a market capitalization of $31.19 billion, a P/E ratio of 16.95, a P/E/G ratio of 3.11 and a beta of 0.36. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01. Consolidated Edison, Inc. has a 1 year low of $85.85 and a 1 year high of $107.75. The company’s fifty day moving average is $98.83 and its two-hundred day moving average is $98.06.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Thursday, November 7th. The utilities provider reported $1.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.56 by $0.12. The business had revenue of $4.09 billion for the quarter, compared to analyst estimates of $4.02 billion. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.70%. On average, sell-side analysts predict that Consolidated Edison, Inc. will post 5.34 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Wednesday, November 13th were issued a $0.83 dividend. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $3.32 annualized dividend and a dividend yield of 3.69%. Consolidated Edison’s dividend payout ratio is currently 62.52%.

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.