Retirement Planning Co of New England Inc. Acquires 100 Shares of Consolidated Edison, Inc. (NYSE:ED)

Retirement Planning Co of New England Inc. grew its position in Consolidated Edison, Inc. (NYSE:ED) by 4.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,501 shares of the utilities provider’s stock after purchasing an additional 100 shares during the quarter. Retirement Planning Co of New England Inc.’s holdings in Consolidated Edison were worth $224,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Consolidated Edison in the 4th quarter valued at $243,511,000. ProShare Advisors LLC lifted its position in shares of Consolidated Edison by 6.6% during the 1st quarter. ProShare Advisors LLC now owns 2,000,741 shares of the utilities provider’s stock valued at $181,687,000 after acquiring an additional 123,654 shares during the period. Hsbc Holdings PLC lifted its position in shares of Consolidated Edison by 11.2% during the 4th quarter. Hsbc Holdings PLC now owns 1,386,743 shares of the utilities provider’s stock valued at $126,042,000 after acquiring an additional 139,370 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Consolidated Edison by 0.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,126,595 shares of the utilities provider’s stock valued at $102,484,000 after acquiring an additional 6,176 shares during the period. Finally, BNP Paribas Financial Markets lifted its position in shares of Consolidated Edison by 14.6% during the 1st quarter. BNP Paribas Financial Markets now owns 720,573 shares of the utilities provider’s stock valued at $65,435,000 after acquiring an additional 91,559 shares during the period. 66.29% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Scotiabank boosted their target price on shares of Consolidated Edison from $85.00 to $90.00 and gave the company a “sector underperform” rating in a research report on Tuesday, August 20th. Barclays boosted their target price on shares of Consolidated Edison from $92.00 to $98.00 and gave the company an “underweight” rating in a research report on Monday, August 5th. Guggenheim boosted their target price on shares of Consolidated Edison from $88.00 to $91.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Morgan Stanley upped their price objective on shares of Consolidated Edison from $75.00 to $82.00 and gave the stock an “underweight” rating in a report on Friday, August 23rd. Finally, Mizuho upped their price objective on shares of Consolidated Edison from $93.00 to $95.00 and gave the stock a “neutral” rating in a report on Tuesday, May 28th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $92.65.

Consolidated Edison Stock Performance

NYSE ED opened at $104.56 on Monday. Consolidated Edison, Inc. has a 1 year low of $80.46 and a 1 year high of $105.99. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.04 and a quick ratio of 0.97. The firm has a market cap of $36.19 billion, a price-to-earnings ratio of 20.07, a PEG ratio of 3.50 and a beta of 0.36. The company has a fifty day moving average price of $98.73 and a 200-day moving average price of $94.15.

Consolidated Edison (NYSE:ED) last posted its earnings results on Thursday, August 1st. The utilities provider reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.02. Consolidated Edison had a net margin of 12.03% and a return on equity of 8.67%. The firm had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.08 billion. During the same quarter in the prior year, the business posted $0.61 EPS. As a group, equities research analysts predict that Consolidated Edison, Inc. will post 5.31 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Wednesday, August 14th will be paid a $0.83 dividend. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $3.32 annualized dividend and a dividend yield of 3.18%. Consolidated Edison’s payout ratio is 63.72%.

Consolidated Edison 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.