Ensign Peak Advisors Inc Acquires 27,675 Shares of Consolidated Edison, Inc. (NYSE:ED)

Ensign Peak Advisors Inc increased its stake in Consolidated Edison, Inc. (NYSE:ED) by 27.8% during the second quarter, Holdings Channel.com reports. The firm owned 127,183 shares of the utilities provider’s stock after purchasing an additional 27,675 shares during the quarter. Ensign Peak Advisors Inc’s holdings in Consolidated Edison were worth $11,373,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Beacon Capital Management LLC raised its stake in shares of Consolidated Edison by 2,307.7% in the first 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 period. Raleigh Capital Management Inc. purchased a new position in Consolidated Edison during the fourth quarter valued at approximately $29,000. Pathway Financial Advisers LLC purchased a new position in Consolidated Edison during the first quarter valued at approximately $33,000. TruNorth Capital Management LLC bought a new position in shares of Consolidated Edison in the second quarter worth approximately $33,000. Finally, Quarry LP purchased a new stake in shares of Consolidated Edison in the fourth quarter worth $35,000. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

Consolidated Edison Stock Up 0.6 %

Shares of NYSE ED opened at $104.02 on Tuesday. Consolidated Edison, Inc. has a 12-month low of $80.46 and a 12-month high of $105.99. The stock’s fifty day simple moving average is $100.36 and its two-hundred day simple moving average is $94.79. The stock has a market capitalization of $35.97 billion, a PE ratio of 19.97, a price-to-earnings-growth ratio of 3.50 and a beta of 0.36. The company has a current ratio of 1.04, a quick ratio of 0.97 and a debt-to-equity ratio of 1.08.

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, beating the consensus estimate of $0.57 by $0.02. The company had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.08 billion. Consolidated Edison had a return on equity of 8.67% and a net margin of 12.03%. During the same quarter in the previous year, the firm earned $0.61 earnings per share. As a group, analysts expect 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 was paid on Monday, September 16th. Investors of record on Wednesday, August 14th were given a dividend of $0.83 per share. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $3.32 dividend on an annualized basis and a yield of 3.19%. Consolidated Edison’s payout ratio is 63.72%.

Wall Street Analysts Forecast Growth

ED has been the subject of several recent analyst reports. Wells Fargo & Company upped their target price on shares of Consolidated Edison from $97.00 to $105.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. Mizuho increased their target price on Consolidated Edison from $93.00 to $95.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 28th. Scotiabank boosted their price target on 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 increased their price objective on shares of Consolidated Edison from $75.00 to $82.00 and gave the company an “underweight” rating in a report on Friday, August 23rd. Finally, Guggenheim boosted their target price on shares of Consolidated Edison from $88.00 to $91.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Consolidated Edison has a consensus rating of “Hold” and an average target price of $93.42.

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.