PDS Planning Inc Has $285,000 Position in Consolidated Edison, Inc. (NYSE:ED)

PDS Planning Inc boosted its stake in Consolidated Edison, Inc. (NYSE:ED) by 6.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,740 shares of the utilities provider’s stock after purchasing an additional 168 shares during the quarter. PDS Planning Inc’s holdings in Consolidated Edison were worth $285,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Consolidated Edison by 11.3% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 109,630 shares of the utilities provider’s stock worth $10,112,000 after purchasing an additional 11,165 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. increased its stake in Consolidated Edison by 6.2% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,291 shares of the utilities provider’s stock valued at $662,000 after acquiring an additional 425 shares during the last quarter. Daiwa Securities Group Inc. lifted its holdings in shares of Consolidated Edison by 8.7% in the first quarter. Daiwa Securities Group Inc. now owns 36,257 shares of the utilities provider’s stock worth $3,292,000 after acquiring an additional 2,912 shares during the last quarter. Central Pacific Bank Trust Division bought a new stake in Consolidated Edison during the 1st quarter worth $100,000. Finally, BI Asset Management Fondsmaeglerselskab A S raised its stake in shares of Consolidated Edison by 369.5% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 20,211 shares of the utilities provider’s stock valued at $1,835,000 after acquiring an additional 15,906 shares during the last quarter. 66.29% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Bank of America increased their price objective on shares of Consolidated Edison from $97.00 to $109.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Morgan Stanley lifted their price objective on Consolidated Edison from $82.00 to $87.00 and gave the stock an “underweight” rating in a research report on Wednesday, September 25th. Guggenheim upped their target price on Consolidated Edison from $88.00 to $91.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Scotiabank lifted their target price on Consolidated Edison from $85.00 to $90.00 and gave the stock a “sector underperform” rating in a report on Tuesday, August 20th. Finally, Wells Fargo & Company upped their price target on Consolidated Edison from $97.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Consolidated Edison presently has a consensus rating of “Hold” and an average target price of $98.73.

Consolidated Edison Price Performance

Consolidated Edison stock opened at $99.15 on Tuesday. The stock has a market cap of $34.32 billion, a price-to-earnings ratio of 19.29, a PEG ratio of 3.43 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 business has a 50-day simple moving average of $103.51 and a 200 day simple moving average of $97.79. Consolidated Edison, Inc. has a 52 week low of $85.85 and a 52 week high of $107.75.

Consolidated Edison Dividend Announcement

The business also recently announced 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. This represents a $3.32 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date is Wednesday, November 13th. Consolidated Edison’s dividend payout ratio is currently 64.59%.

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.