Coston McIsaac & Partners Acquires 1,415 Shares of Consolidated Edison, Inc. (NYSE:ED)

Coston McIsaac & Partners increased its holdings in shares of Consolidated Edison, Inc. (NYSE:ED) by 2.4% in the third quarter, HoldingsChannel reports. The institutional investor owned 61,231 shares of the utilities provider’s stock after purchasing an additional 1,415 shares during the quarter. Consolidated Edison accounts for 1.8% of Coston McIsaac & Partners’ portfolio, making the stock its 18th biggest position. Coston McIsaac & Partners’ holdings in Consolidated Edison were worth $6,375,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of ED. Sei Investments Co. boosted its stake in shares of Consolidated Edison by 57.4% in the 1st quarter. Sei Investments Co. now owns 244,404 shares of the utilities provider’s stock valued at $22,193,000 after purchasing an additional 89,080 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in Consolidated Edison by 153.9% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 245,802 shares of the utilities provider’s stock valued at $22,321,000 after purchasing an additional 148,988 shares during the period. Mizuho Markets Americas LLC grew its position in Consolidated Edison by 121.1% in the 1st quarter. Mizuho Markets Americas LLC now owns 113,675 shares of the utilities provider’s stock valued at $10,323,000 after purchasing an additional 62,260 shares during the period. AMF Tjanstepension AB purchased a new position in Consolidated Edison during the 1st quarter worth $13,193,000. Finally, Plato Investment Management Ltd boosted its holdings in Consolidated Edison by 17,683.9% during the 1st quarter. Plato Investment Management Ltd now owns 9,959 shares of the utilities provider’s stock worth $904,000 after acquiring an additional 9,903 shares during the last quarter. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Price Performance

Consolidated Edison stock traded up $0.60 during mid-day trading on Wednesday, reaching $106.30. 341,048 shares of the company’s stock traded hands, compared to its average volume of 1,830,354. Consolidated Edison, Inc. has a 12-month low of $85.85 and a 12-month high of $107.10. The company has a market cap of $36.76 billion, a price-to-earnings ratio of 20.29, a PEG ratio of 3.46 and a beta of 0.36. The stock has a 50 day moving average of $102.97 and a two-hundred day moving average of $96.91. The company has a quick ratio of 0.97, a current ratio of 1.04 and a debt-to-equity ratio of 1.08.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. Consolidated Edison had a return on equity of 8.67% and a net margin of 12.03%. The company had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.08 billion. During the same period last year, the company earned $0.61 earnings per share. Equities analysts forecast that Consolidated Edison, Inc. will post 5.3 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Wednesday, November 13th will be issued a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date is Wednesday, November 13th. Consolidated Edison’s payout ratio is presently 63.72%.

Wall Street Analyst Weigh In

ED has been the topic of a number of recent analyst reports. Jefferies Financial Group began coverage on Consolidated Edison in a research note on Wednesday, October 9th. They set a “hold” rating and a $108.00 target price on the stock. Bank of America increased their price target on shares of Consolidated Edison from $97.00 to $109.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Scotiabank increased their price target on shares of Consolidated Edison from $85.00 to $90.00 and gave the stock a “sector underperform” rating in a report on Tuesday, August 20th. Morgan Stanley upped their price objective on shares of Consolidated Edison from $82.00 to $87.00 and gave the stock an “underweight” rating in a research report on Wednesday, September 25th. Finally, Guggenheim upped their price objective on shares of Consolidated Edison from $88.00 to $91.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Four analysts have rated the stock with a sell rating, eight have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $98.73.

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.