Rhumbline Advisers Has $68.08 Million Holdings in Consolidated Edison, Inc. (NYSE:ED)

Rhumbline Advisers decreased its position in shares of Consolidated Edison, Inc. (NYSE:ED) by 1.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 761,332 shares of the utilities provider’s stock after selling 8,931 shares during the quarter. Rhumbline Advisers owned approximately 0.22% of Consolidated Edison worth $68,078,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Consolidated Edison by 3.2% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 418,244 shares of the utilities provider’s stock valued at $38,897,000 after purchasing an additional 12,953 shares in the last quarter. Corient Private Wealth LLC grew its holdings in Consolidated Edison by 4.6% during the 4th quarter. Corient Private Wealth LLC now owns 175,416 shares of the utilities provider’s stock worth $15,958,000 after acquiring an additional 7,725 shares during the last quarter. UBS Group AG increased its position in Consolidated Edison by 14.7% in the 4th quarter. UBS Group AG now owns 488,483 shares of the utilities provider’s stock valued at $44,437,000 after acquiring an additional 62,519 shares during the period. Massmutual Trust Co. FSB ADV raised its stake in shares of Consolidated Edison by 2,486.2% during the first quarter. Massmutual Trust Co. FSB ADV now owns 21,776 shares of the utilities provider’s stock valued at $1,977,000 after acquiring an additional 20,934 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Consolidated Edison by 35.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 47,466 shares of the utilities provider’s stock worth $4,318,000 after purchasing an additional 12,307 shares during the period. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Stock Performance

Shares of Consolidated Edison stock opened at $104.40 on Thursday. The business has a 50-day simple moving average of $96.63 and a 200 day simple moving average of $93.29. Consolidated Edison, Inc. has a one year low of $80.46 and a one year high of $105.99. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.04 and a quick ratio of 0.97. The firm has a market capitalization of $36.11 billion, a price-to-earnings ratio of 20.04, a PEG ratio of 3.43 and a beta of 0.34.

Consolidated Edison (NYSE:ED) last released its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.59 EPS for the quarter, beating the consensus estimate of $0.57 by $0.02. Consolidated Edison had a return on equity of 8.67% and a net margin of 12.03%. The firm had revenue of $3.22 billion during 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, research analysts anticipate that Consolidated Edison, Inc. will post 5.3 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Wednesday, August 14th will be paid a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date of this dividend is Wednesday, August 14th. Consolidated Edison’s dividend payout ratio (DPR) is 63.72%.

Analyst Ratings Changes

ED has been the subject of several analyst reports. UBS Group raised their target price on Consolidated Edison from $92.00 to $96.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. Bank of America upped their target price on Consolidated Edison from $97.00 to $109.00 and gave the company a “buy” rating in a report on Monday, August 5th. Scotiabank raised their price target 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. Barclays upped their price objective on shares of Consolidated Edison from $92.00 to $98.00 and gave the company an “underweight” rating in a research note on Monday, August 5th. Finally, Wells Fargo & Company increased their price objective on shares of Consolidated Edison from $97.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $92.65.

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.