Thrivent Financial for Lutherans Purchases 3,716 Shares of Consolidated Edison, Inc. (NYSE:ED)

Thrivent Financial for Lutherans lifted its position in Consolidated Edison, Inc. (NYSE:ED) by 11.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,104 shares of the utilities provider’s stock after acquiring an additional 3,716 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Consolidated Edison were worth $3,655,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ED. Retirement Planning Co of New England Inc. increased its position in shares of Consolidated Edison by 4.2% during the 2nd quarter. Retirement Planning Co of New England Inc. now owns 2,501 shares of the utilities provider’s stock valued at $224,000 after purchasing an additional 100 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its position in shares of Consolidated Edison by 13.0% during 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 increased its stake in shares of 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 purchasing an additional 136 shares during the last quarter. Checchi Capital Advisers LLC raised its holdings in shares of Consolidated Edison by 2.6% in the 2nd quarter. Checchi Capital Advisers LLC now owns 5,627 shares of the utilities provider’s stock worth $503,000 after purchasing an additional 141 shares during the period. Finally, Center For Asset Management LLC lifted its stake in Consolidated Edison by 3.5% in the second quarter. Center For Asset Management LLC now owns 4,358 shares of the utilities provider’s stock valued at $390,000 after purchasing an additional 147 shares during the last quarter. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Guggenheim boosted their target price on Consolidated Edison from $88.00 to $91.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. UBS Group lifted 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. Jefferies Financial Group started coverage on shares of Consolidated Edison in a report on Wednesday, October 9th. They issued a “hold” rating and a $108.00 price objective for the company. Barclays dropped their target price on Consolidated Edison from $104.00 to $99.00 and set an “underweight” rating on the stock in a research report on Friday, November 8th. Finally, Morgan Stanley reduced their price target on Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating for the company in a research report on Friday. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Consolidated Edison currently has an average rating of “Hold” and an average price target of $98.19.

Consolidated Edison Price Performance

NYSE:ED opened at $99.46 on Tuesday. The firm has a market capitalization of $34.45 billion, a price-to-earnings ratio of 18.73, a P/E/G ratio of 3.31 and a beta of 0.36. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01. The stock has a fifty day moving average of $101.91 and a 200 day moving average of $98.10. Consolidated Edison, Inc. has a 52-week low of $85.85 and a 52-week high of $107.75.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings data on Thursday, November 7th. The utilities provider reported $1.68 EPS for the quarter, topping the consensus estimate of $1.56 by $0.12. The company had revenue of $4.09 billion during the quarter, compared to analyst estimates of $4.02 billion. Consolidated Edison had a return on equity of 8.70% and a net margin of 12.27%. On average, research analysts expect that Consolidated Edison, Inc. will post 5.33 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Wednesday, November 13th will be given a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 3.34%. The ex-dividend date is Wednesday, November 13th. Consolidated Edison’s dividend payout ratio (DPR) is currently 62.52%.

Consolidated Edison 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.