Insight Folios Inc Purchases 3,542 Shares of Consolidated Edison, Inc. (NYSE:ED)

Insight Folios Inc boosted its position in Consolidated Edison, Inc. (NYSE:ED) by 4.9% during the third quarter, HoldingsChannel reports. The fund owned 75,201 shares of the utilities provider’s stock after buying an additional 3,542 shares during the quarter. Consolidated Edison comprises 2.8% of Insight Folios Inc’s holdings, making the stock its 14th biggest position. Insight Folios Inc’s holdings in Consolidated Edison were worth $7,831,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in ED. Clean Energy Transition LLP boosted its holdings in shares of Consolidated Edison by 227.9% in the second quarter. Clean Energy Transition LLP now owns 897,553 shares of the utilities provider’s stock worth $80,259,000 after acquiring an additional 623,787 shares during the period. International Assets Investment Management LLC boosted its stake in Consolidated Edison by 10,262.1% in the 3rd quarter. International Assets Investment Management LLC now owns 553,546 shares of the utilities provider’s stock worth $57,641,000 after purchasing an additional 548,204 shares during the period. Acadian Asset Management LLC grew its holdings in Consolidated Edison by 302.3% during the 2nd quarter. Acadian Asset Management LLC now owns 709,172 shares of the utilities provider’s stock valued at $63,396,000 after buying an additional 532,893 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in Consolidated Edison by 4,020.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 406,859 shares of the utilities provider’s stock valued at $42,366,000 after buying an additional 396,985 shares in the last quarter. Finally, AMF Tjanstepension AB increased its position in shares of Consolidated Edison by 243.2% during the second quarter. AMF Tjanstepension AB now owns 497,982 shares of the utilities provider’s stock valued at $44,564,000 after buying an additional 352,903 shares during the period. 66.29% of the stock is owned by hedge funds and other institutional investors.

Consolidated Edison Stock Down 2.2 %

Shares of ED opened at $104.60 on Monday. Consolidated Edison, Inc. has a 1 year low of $85.85 and a 1 year high of $107.75. 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 stock has a 50 day simple moving average of $103.35 and a two-hundred day simple moving average of $97.25. The firm has a market cap of $36.17 billion, a P/E ratio of 20.08, a P/E/G ratio of 3.57 and a beta of 0.36.

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

Consolidated Edison Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Wednesday, November 13th will be paid 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 3.17%. Consolidated Edison’s dividend payout ratio (DPR) is currently 63.72%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ED. Barclays boosted their price objective on shares of Consolidated Edison from $98.00 to $104.00 and gave the company an “underweight” rating in a research note on Monday, October 21st. UBS Group boosted their price target on shares of Consolidated Edison from $105.00 to $106.00 and gave the company a “neutral” rating in a research report on Friday, September 20th. Morgan Stanley increased 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. Citigroup raised Consolidated Edison from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $103.00 to $116.00 in a research note on Tuesday, October 15th. Finally, Guggenheim upped their target price on Consolidated Edison from $88.00 to $91.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Consolidated Edison presently has a consensus rating of “Hold” and an average target price of $98.73.

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.