Clean Energy Transition LLP Has $80.26 Million Holdings in Consolidated Edison, Inc. (NYSE:ED)

Clean Energy Transition LLP grew its position in Consolidated Edison, Inc. (NYSE:ED) by 227.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 897,553 shares of the utilities provider’s stock after acquiring an additional 623,787 shares during the quarter. Consolidated Edison makes up approximately 4.4% of Clean Energy Transition LLP’s holdings, making the stock its 8th largest position. Clean Energy Transition LLP owned 0.26% of Consolidated Edison worth $80,259,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the company. Beacon Capital Management LLC grew its stake in Consolidated Edison by 2,307.7% during the 1st quarter. Beacon Capital Management LLC now owns 313 shares of the utilities provider’s stock worth $28,000 after buying an additional 300 shares during the last quarter. Tidemark LLC bought a new position in Consolidated Edison during the 4th quarter worth $29,000. Raleigh Capital Management Inc. bought a new position in Consolidated Edison during the 4th quarter worth $29,000. Pathway Financial Advisers LLC bought a new position in Consolidated Edison during the 1st quarter worth $33,000. Finally, TruNorth Capital Management LLC bought a new position in Consolidated Edison during the 2nd quarter worth $33,000. 66.29% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ED has been the subject of several recent analyst reports. Argus raised Consolidated Edison to a “strong-buy” rating in a research note on Friday, June 7th. Morgan Stanley increased their price target on Consolidated Edison from $75.00 to $82.00 and gave the stock an “underweight” rating in a research note on Friday, August 23rd. Barclays increased their price target on Consolidated Edison from $92.00 to $98.00 and gave the stock an “underweight” rating in a research note on Monday, August 5th. Scotiabank increased their price target on Consolidated Edison from $85.00 to $90.00 and gave the stock a “sector underperform” rating in a research note on Tuesday, August 20th. Finally, Guggenheim increased their price target 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 research analysts have rated the stock with a sell rating, eight have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $93.42.

Consolidated Edison Trading Up 1.2 %

Shares of NYSE ED opened at $103.35 on Friday. Consolidated Edison, Inc. has a 12 month low of $80.46 and a 12 month high of $105.99. The company has a market cap of $35.74 billion, a price-to-earnings ratio of 19.84, a P/E/G ratio of 3.50 and a beta of 0.36. The company has a quick ratio of 0.97, a current ratio of 1.04 and a debt-to-equity ratio of 1.08. The business has a fifty day simple moving average of $100.08 and a 200-day simple moving average of $94.62.

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

Consolidated Edison Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Wednesday, August 14th were paid a $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 3.21%. The ex-dividend date was Wednesday, August 14th. Consolidated Edison’s dividend payout ratio is currently 63.72%.

Consolidated Edison Company 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.