Empirical Finance LLC Has $1.25 Million Holdings in Consolidated Edison, Inc. (NYSE:ED)

Empirical Finance LLC raised its holdings in Consolidated Edison, Inc. (NYSE:ED) by 2.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,963 shares of the utilities provider’s stock after acquiring an additional 249 shares during the period. Empirical Finance LLC’s holdings in Consolidated Edison were worth $1,246,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Hsbc Holdings PLC grew its position in shares of Consolidated Edison by 0.8% in the 2nd quarter. Hsbc Holdings PLC now owns 1,502,523 shares of the utilities provider’s stock valued at $134,323,000 after purchasing an additional 11,785 shares during the period. Dimensional Fund Advisors LP lifted its stake in Consolidated Edison by 11.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,273,115 shares of the utilities provider’s stock valued at $113,845,000 after buying an additional 125,859 shares in the last quarter. Clean Energy Transition LLP lifted its stake in 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 buying an additional 623,787 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of Consolidated Edison by 5.5% in the second quarter. AQR Capital Management LLC now owns 709,713 shares of the utilities provider’s stock valued at $63,413,000 after buying an additional 36,991 shares during the period. Finally, Acadian Asset Management LLC increased its position in shares of Consolidated Edison by 302.3% during the second quarter. Acadian Asset Management LLC now owns 709,172 shares of the utilities provider’s stock worth $63,396,000 after acquiring an additional 532,893 shares in the last quarter. 66.29% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on ED shares. Morgan Stanley boosted their price objective on shares of Consolidated Edison from $82.00 to $87.00 and gave the company an “underweight” rating in a research report on Wednesday, September 25th. Evercore ISI upgraded Consolidated Edison from a “hold” rating to a “strong-buy” rating in a report on Friday, November 8th. Bank of America upped their price objective on Consolidated Edison from $97.00 to $109.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Wells Fargo & Company lifted their target price on Consolidated Edison from $97.00 to $105.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. Finally, Barclays reduced their price target on Consolidated Edison from $104.00 to $99.00 and set an “underweight” rating for the company in a research report on Friday, November 8th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $98.35.

Consolidated Edison Price Performance

Shares of ED opened at $96.44 on Friday. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.07. The company’s fifty day simple moving average is $102.68 and its 200 day simple moving average is $98.02. Consolidated Edison, Inc. has a 1-year low of $85.85 and a 1-year high of $107.75. The company has a market cap of $33.41 billion, a price-to-earnings ratio of 18.16, a PEG ratio of 3.21 and a beta of 0.36.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings data on Thursday, November 7th. The utilities provider reported $1.68 EPS for the quarter, beating analysts’ consensus estimates of $1.56 by $0.12. The company had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $4.02 billion. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.70%. On average, research analysts forecast that Consolidated Edison, Inc. will post 5.33 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Wednesday, November 13th will be paid a $0.83 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $3.32 annualized dividend and a yield of 3.44%. Consolidated Edison’s dividend payout ratio is 62.52%.

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.