Mizuho Markets Americas LLC Decreases Stake in Consolidated Edison, Inc. (NYSE:ED)

Mizuho Markets Americas LLC lessened its holdings in Consolidated Edison, Inc. (NYSE:ED) by 9.6% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 60,523 shares of the utilities provider’s stock after selling 6,399 shares during the period. Mizuho Markets Americas LLC’s holdings in Consolidated Edison were worth $6,302,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Capital Performance Advisors LLP bought a new position in Consolidated Edison during the third quarter valued at about $27,000. Ashton Thomas Securities LLC purchased a new position in Consolidated Edison in the third quarter valued at about $30,000. Beacon Capital Management LLC grew its position in shares of Consolidated Edison by 2,307.7% during the 1st quarter. Beacon Capital Management LLC now owns 313 shares of the utilities provider’s stock valued at $28,000 after acquiring an additional 300 shares during the period. Pathway Financial Advisers LLC purchased a new stake in shares of Consolidated Edison during the 1st quarter worth approximately $33,000. Finally, TruNorth Capital Management LLC purchased a new stake in shares of Consolidated Edison during the 2nd quarter worth approximately $33,000. 66.29% of the stock is owned by institutional investors.

Consolidated Edison Stock Up 1.2 %

Shares of NYSE:ED opened at $96.43 on Friday. The firm has a fifty day moving average price of $102.68 and a two-hundred day moving average price of $97.99. The company has a market cap of $33.40 billion, a price-to-earnings ratio of 18.16, a PEG ratio of 3.21 and a beta of 0.36. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93. Consolidated Edison, Inc. has a one year low of $85.85 and a one year high of $107.75.

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

Consolidated Edison Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Wednesday, November 13th will be given a dividend of $0.83 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.44%. Consolidated Edison’s dividend payout ratio (DPR) is presently 62.52%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ED. Barclays reduced their price objective on Consolidated Edison from $104.00 to $99.00 and set an “underweight” rating for the company in a report on Friday, November 8th. Citigroup upgraded Consolidated Edison from a “neutral” rating to a “buy” rating and increased their price target for the stock from $103.00 to $116.00 in a research note on Tuesday, October 15th. Jefferies Financial Group initiated coverage on shares of Consolidated Edison in a report on Wednesday, October 9th. They set a “hold” rating and a $108.00 price objective on the stock. Morgan Stanley lifted their target price on shares of Consolidated Edison from $82.00 to $87.00 and gave the stock an “underweight” rating in a research note on Wednesday, September 25th. Finally, Evercore ISI raised shares of Consolidated Edison from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 8th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $98.35.

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.