APG Asset Management N.V. Trims Holdings in Consolidated Edison, Inc. (NYSE:ED)

APG Asset Management N.V. reduced its stake in Consolidated Edison, Inc. (NYSE:ED) by 9.3% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 1,293,133 shares of the utilities provider’s stock after selling 132,416 shares during the period. APG Asset Management N.V.’s holdings in Consolidated Edison were worth $107,891,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Clean Energy Transition LLP grew 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 valued at $80,259,000 after purchasing an additional 623,787 shares during the period. Acadian Asset Management LLC increased its holdings in shares of Consolidated Edison by 302.3% during the 2nd quarter. Acadian Asset Management LLC now owns 709,172 shares of the utilities provider’s stock worth $63,396,000 after buying an additional 532,893 shares during the last quarter. AMF Tjanstepension AB raised its position in shares of Consolidated Edison by 243.2% during the 2nd 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. Swedbank AB acquired a new position in Consolidated Edison in the first quarter valued at approximately $30,515,000. Finally, LPL Financial LLC grew its position in Consolidated Edison by 101.3% in the second quarter. LPL Financial LLC now owns 606,594 shares of the utilities provider’s stock worth $54,242,000 after acquiring an additional 305,291 shares during the period. 66.29% of the stock is owned by institutional investors and hedge funds.

Consolidated Edison Trading Down 0.0 %

Shares of NYSE:ED opened at $103.13 on Friday. The company has a market cap of $35.67 billion, a PE ratio of 19.79, a P/E/G ratio of 3.52 and a beta of 0.36. The company’s 50 day moving average is $100.77 and its two-hundred day moving average is $94.94. Consolidated Edison, Inc. has a 52 week low of $80.46 and a 52 week high of $105.99. 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 EPS for the quarter, beating the consensus estimate of $0.57 by $0.02. The firm 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 prior year, the company posted $0.61 earnings per share. Equities analysts predict that Consolidated Edison, Inc. will post 5.3 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Wednesday, August 14th were issued a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date was Wednesday, August 14th. Consolidated Edison’s dividend payout ratio (DPR) is 63.72%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Morgan Stanley upped their price target on Consolidated Edison from $82.00 to $87.00 and gave the company an “underweight” rating in a research note on Wednesday. UBS Group increased their target price on shares of Consolidated Edison from $105.00 to $106.00 and gave the stock a “neutral” rating in a research note on Friday, September 20th. Barclays boosted their price target on shares of Consolidated Edison from $92.00 to $98.00 and gave the company an “underweight” rating in a research note on Monday, August 5th. Argus raised shares of Consolidated Edison to a “strong-buy” rating in a research report on Friday, June 7th. Finally, Bank of America boosted their target price on Consolidated Edison from $97.00 to $109.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $93.81.

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.