5,080 Shares in Consolidated Edison, Inc. (NYSE:ED) Bought by Ausbil Investment Management Ltd

Ausbil Investment Management Ltd bought a new stake in Consolidated Edison, Inc. (NYSE:ED) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 5,080 shares of the utilities provider’s stock, valued at approximately $529,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of ED. Fiduciary Planning LLC bought a new position in Consolidated Edison during the third quarter valued at $304,000. Grimes & Company Inc. increased its holdings in shares of Consolidated Edison by 3.2% in the third quarter. Grimes & Company Inc. now owns 5,427 shares of the utilities provider’s stock worth $565,000 after purchasing an additional 169 shares during the period. CENTRAL TRUST Co raised its holdings in shares of Consolidated Edison by 8.0% in the 3rd quarter. CENTRAL TRUST Co now owns 6,504 shares of the utilities provider’s stock valued at $677,000 after acquiring an additional 481 shares in the last quarter. Hennion & Walsh Asset Management Inc. lifted its position in Consolidated Edison by 3.7% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 14,851 shares of the utilities provider’s stock valued at $1,546,000 after purchasing an additional 527 shares during the last quarter. Finally, International Assets Investment Management LLC increased its stake 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 acquiring an additional 548,204 shares during the last quarter. 66.29% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on ED. Barclays upped their target price on Consolidated Edison from $98.00 to $104.00 and gave the stock an “underweight” rating in a research note on Monday. Citigroup raised shares of Consolidated Edison from a “neutral” rating to a “buy” rating and increased their target price for the company from $103.00 to $116.00 in a report on Tuesday, October 15th. Scotiabank boosted their price target on shares of Consolidated Edison from $85.00 to $90.00 and gave the stock a “sector underperform” rating in a research note on Tuesday, August 20th. UBS Group upped 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. Finally, Wells Fargo & Company lifted their price objective on Consolidated Edison from $97.00 to $105.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. Four research analysts have rated the stock with a sell rating, eight have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $98.73.

Consolidated Edison Stock Down 0.1 %

Shares of NYSE:ED traded down $0.09 during trading on Thursday, hitting $107.31. The stock had a trading volume of 204,126 shares, compared to its average volume of 1,828,979. The company has a market capitalization of $37.11 billion, a PE ratio of 20.60, a PEG ratio of 3.46 and a beta of 0.36. 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 firm’s fifty day moving average is $103.10 and its 200 day moving average is $96.98. Consolidated Edison, Inc. has a 12 month low of $85.85 and a 12 month high of $107.75.

Consolidated Edison (NYSE:ED) last announced its earnings results on Thursday, August 1st. The utilities provider reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02. The firm 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 quarter in the previous year, the business posted $0.61 EPS. Analysts anticipate that Consolidated Edison, Inc. will post 5.3 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Wednesday, November 13th will be given a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date is Wednesday, November 13th. Consolidated Edison’s dividend payout ratio (DPR) is presently 63.72%.

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.