Healthcare of Ontario Pension Plan Trust Fund Raises Stock Holdings in Consolidated Edison, Inc. (NYSE:ED)

Healthcare of Ontario Pension Plan Trust Fund raised its position in Consolidated Edison, Inc. (NYSE:ED) by 52.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 145,288 shares of the utilities provider’s stock after buying an additional 50,044 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Consolidated Edison were worth $12,992,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of ED. Clean Energy Transition LLP increased 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% in the second quarter. Acadian Asset Management LLC now owns 709,172 shares of the utilities provider’s stock valued at $63,396,000 after purchasing an additional 532,893 shares during the period. AMF Tjanstepension AB increased its holdings in shares of Consolidated Edison by 243.2% in the second quarter. AMF Tjanstepension AB now owns 497,982 shares of the utilities provider’s stock valued at $44,564,000 after purchasing an additional 352,903 shares during the period. Swedbank AB acquired a new position in shares of Consolidated Edison in the first quarter valued at approximately $30,515,000. Finally, LPL Financial LLC increased its holdings in shares of Consolidated Edison by 101.3% in the second quarter. LPL Financial LLC now owns 606,594 shares of the utilities provider’s stock valued at $54,242,000 after purchasing an additional 305,291 shares during the period. Institutional investors and hedge funds own 66.29% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on ED shares. Wells Fargo & Company boosted their target price on Consolidated Edison from $97.00 to $105.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. Scotiabank upped their price objective on Consolidated Edison from $85.00 to $90.00 and gave the stock a “sector underperform” rating in a report on Tuesday, August 20th. Barclays upped their price objective on Consolidated Edison from $92.00 to $98.00 and gave the stock an “underweight” rating in a report on Monday, August 5th. Morgan Stanley upped their price objective on Consolidated Edison from $82.00 to $87.00 and gave the stock an “underweight” rating in a report on Wednesday, September 25th. Finally, UBS Group boosted their target price on Consolidated Edison from $105.00 to $106.00 and gave the stock a “neutral” rating in a research report on Friday, September 20th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $93.81.

Consolidated Edison Stock Performance

NYSE ED opened at $104.02 on Friday. The business’s 50-day moving average price is $101.91 and its 200 day moving average price is $95.51. Consolidated Edison, Inc. has a twelve month low of $82.00 and a twelve month high of $105.99. The company has a market capitalization of $35.97 billion, a PE ratio of 19.97, a price-to-earnings-growth ratio of 3.52 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 released its earnings results on Thursday, August 1st. The utilities provider reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.02. The firm had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.08 billion. Consolidated Edison had a return on equity of 8.67% and a net margin of 12.03%. During the same period in the prior year, the business posted $0.61 earnings per share. On average, research analysts predict that Consolidated Edison, Inc. will post 5.3 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Wednesday, August 14th were paid a dividend of $0.83 per share. The ex-dividend date was Wednesday, August 14th. This represents a $3.32 annualized dividend and a yield of 3.19%. Consolidated Edison’s dividend payout ratio is presently 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.