Fmr LLC Has $132.08 Million Stake in Consolidated Edison, Inc. (NYSE:ED)

Fmr LLC raised its stake in Consolidated Edison, Inc. (NYSE:ED) by 82.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,268,424 shares of the utilities provider’s stock after acquiring an additional 572,530 shares during the period. Fmr LLC owned about 0.37% of Consolidated Edison worth $132,081,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. 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 worth $224,000 after purchasing an additional 100 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its holdings in shares of Consolidated Edison by 13.0% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 868 shares of the utilities provider’s stock worth $78,000 after buying an additional 100 shares in the last quarter. D.A. Davidson & CO. raised its stake in shares of Consolidated Edison by 1.1% in the third quarter. D.A. Davidson & CO. now owns 11,142 shares of the utilities provider’s stock valued at $1,160,000 after acquiring an additional 124 shares during the last quarter. Brookstone Capital Management boosted its holdings in shares of Consolidated Edison by 0.6% in 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 in the last quarter. Finally, Checchi Capital Advisers LLC grew its position in Consolidated Edison by 2.6% during the 2nd quarter. Checchi Capital Advisers LLC now owns 5,627 shares of the utilities provider’s stock worth $503,000 after acquiring an additional 141 shares during the last quarter. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Consolidated Edison Stock Down 1.0 %

Shares of NYSE ED opened at $97.54 on Wednesday. Consolidated Edison, Inc. has a 52-week low of $85.85 and a 52-week high of $107.75. 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 market cap of $33.79 billion, a P/E ratio of 18.37, a P/E/G ratio of 3.31 and a beta of 0.36. The firm has a 50 day moving average price of $101.53 and a 200 day moving average price of $98.23.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings results on Thursday, November 7th. The utilities provider reported $1.68 earnings per share (EPS) for the quarter, beating 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 net margin of 12.27% and a return on equity of 8.70%. Analysts expect that Consolidated Edison, Inc. will post 5.34 EPS for the current year.

Consolidated Edison Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 3.40%. The ex-dividend date of this dividend is Wednesday, November 13th. Consolidated Edison’s dividend payout ratio is currently 62.52%.

Analyst Upgrades and Downgrades

ED has been the subject of several research analyst reports. Jefferies Financial Group initiated coverage on Consolidated Edison in a research report on Wednesday, October 9th. They issued a “hold” rating and a $108.00 price objective for the company. Barclays decreased their price objective on shares of Consolidated Edison from $104.00 to $99.00 and set an “underweight” rating on the stock in a report on Friday, November 8th. Citigroup upgraded shares of Consolidated Edison from a “neutral” rating to a “buy” rating and upped their target price for the stock from $103.00 to $116.00 in a research report on Tuesday, October 15th. Scotiabank boosted their price objective on shares of Consolidated Edison from $85.00 to $90.00 and gave the stock a “sector underperform” rating in a research report on Tuesday, August 20th. Finally, Evercore ISI upgraded Consolidated Edison from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 8th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $99.13.

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.