Consolidated Edison, Inc. (NYSE:ED) Position Increased by Axa S.A.

Axa S.A. increased its stake in Consolidated Edison, Inc. (NYSE:ED) by 1.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 37,282 shares of the utilities provider’s stock after purchasing an additional 466 shares during the period. Axa S.A.’s holdings in Consolidated Edison were worth $3,334,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Beacon Capital Management LLC raised 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 valued at $28,000 after acquiring an additional 300 shares in the last quarter. Raleigh Capital Management Inc. bought a new stake in Consolidated Edison during the 4th quarter valued at $29,000. Pathway Financial Advisers LLC bought a new stake in Consolidated Edison during the 1st quarter valued at $33,000. TruNorth Capital Management LLC acquired a new position in shares of Consolidated Edison during the 2nd quarter valued at $33,000. Finally, Quarry LP acquired a new position in shares of Consolidated Edison during the 4th quarter valued at $35,000. Institutional investors own 66.29% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Wells Fargo & Company lifted their price target on Consolidated Edison from $97.00 to $105.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. Barclays lifted their price target on Consolidated Edison from $92.00 to $98.00 and gave the company an “underweight” rating in a research report on Monday, August 5th. Morgan Stanley lifted their price target on Consolidated Edison from $82.00 to $87.00 and gave the company an “underweight” rating in a research report on Wednesday, September 25th. UBS Group lifted their target price on Consolidated Edison from $105.00 to $106.00 and gave the stock a “neutral” rating in a report on Friday, September 20th. Finally, Guggenheim lifted their target price on Consolidated Edison from $88.00 to $91.00 and gave the stock a “neutral” rating in a report 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 stock. Based on data from MarketBeat.com, Consolidated Edison presently has a consensus rating of “Hold” and an average target price of $93.81.

Consolidated Edison Stock Performance

Shares of ED stock opened at $104.05 on Monday. Consolidated Edison, Inc. has a 1-year low of $80.46 and a 1-year 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. The company has a market capitalization of $35.98 billion, a price-to-earnings ratio of 19.97, a P/E/G ratio of 3.52 and a beta of 0.36. The stock’s fifty day simple moving average is $101.15 and its 200-day simple moving average is $95.16.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $3.08 billion. During the same quarter in the previous year, the company posted $0.61 earnings per share. On average, sell-side analysts predict that Consolidated Edison, Inc. will post 5.3 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

The company also recently disclosed 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%.

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.