Vontobel Holding Ltd. Has $514,000 Stock Position in Consolidated Edison, Inc. (NYSE:ED)

Vontobel Holding Ltd. reduced its stake in Consolidated Edison, Inc. (NYSE:ED) by 2.4% during the 3rd quarter, Holdings Channel reports. The firm owned 4,932 shares of the utilities provider’s stock after selling 119 shares during the period. Vontobel Holding Ltd.’s holdings in Consolidated Edison were worth $514,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Retirement Planning Co of New England Inc. boosted its holdings in Consolidated Edison by 4.2% during the second quarter. Retirement Planning Co of New England Inc. now owns 2,501 shares of the utilities provider’s stock worth $224,000 after buying an additional 100 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its position in shares of Consolidated Edison by 13.0% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 868 shares of the utilities provider’s stock valued at $78,000 after acquiring an additional 100 shares during the period. Brookstone Capital Management boosted its stake in Consolidated Edison by 0.6% during the 3rd quarter. Brookstone Capital Management now owns 24,173 shares of the utilities provider’s stock worth $2,517,000 after acquiring an additional 136 shares during the last quarter. G&S Capital LLC grew its holdings in Consolidated Edison by 1.6% during the first quarter. G&S Capital LLC now owns 8,747 shares of the utilities provider’s stock valued at $794,000 after purchasing an additional 139 shares during the period. Finally, Checchi Capital Advisers LLC increased its stake in Consolidated Edison by 2.6% in the second quarter. Checchi Capital Advisers LLC now owns 5,627 shares of the utilities provider’s stock valued at $503,000 after purchasing an additional 141 shares in the last quarter. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Trading Down 0.5 %

Shares of Consolidated Edison stock opened at $106.26 on Tuesday. Consolidated Edison, Inc. has a 12-month low of $85.85 and a 12-month high of $107.10. 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’s 50 day moving average is $102.89 and its 200-day moving average is $96.80. The stock has a market cap of $36.75 billion, a P/E ratio of 20.40, a P/E/G ratio of 3.46 and a beta of 0.36.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. The business had revenue of $3.22 billion during the quarter, compared to analysts’ expectations 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 last year, the company posted $0.61 earnings per share. Equities research 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 announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Wednesday, November 13th will be issued a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date of this dividend is Wednesday, November 13th. Consolidated Edison’s payout ratio is presently 63.72%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Barclays lifted their price target on shares of Consolidated Edison from $98.00 to $104.00 and gave the stock an “underweight” rating in a research report on Monday. 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. Jefferies Financial Group assumed coverage on Consolidated Edison in a report on Wednesday, October 9th. They issued a “hold” rating and a $108.00 price target for the company. Morgan Stanley boosted their price objective on Consolidated Edison from $82.00 to $87.00 and gave the company an “underweight” rating in a research report on Wednesday, September 25th. Finally, Scotiabank raised their target price on shares of Consolidated Edison from $85.00 to $90.00 and gave the stock a “sector underperform” rating in a report on Tuesday, August 20th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $98.73.

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.