Ameritas Investment Partners Inc. Has $1.92 Million Holdings in Consolidated Edison, Inc. (NYSE:ED)

Ameritas Investment Partners Inc. trimmed its stake in Consolidated Edison, Inc. (NYSE:ED) by 3.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,473 shares of the utilities provider’s stock after selling 857 shares during the period. Ameritas Investment Partners Inc.’s holdings in Consolidated Edison were worth $1,920,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Acadian Asset Management LLC increased its position in shares of Consolidated Edison by 302.3% during 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 Consolidated Edison by 243.2% in the 2nd quarter. AMF Tjanstepension AB now owns 497,982 shares of the utilities provider’s stock valued at $44,564,000 after buying an additional 352,903 shares during the period. Swedbank AB acquired a new position in shares of Consolidated Edison in the 1st quarter valued at $30,515,000. LPL Financial LLC lifted its holdings in shares of Consolidated Edison by 101.3% during the 2nd quarter. LPL Financial LLC now owns 606,594 shares of the utilities provider’s stock worth $54,242,000 after acquiring an additional 305,291 shares during the period. Finally, Clean Energy Transition LLP bought a new position in shares of Consolidated Edison during the 1st quarter worth about $24,861,000. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ED. UBS Group increased their price target on shares of Consolidated Edison from $105.00 to $106.00 and gave the stock a “neutral” rating in a research report on Friday. Wells Fargo & Company increased their target price on Consolidated Edison from $97.00 to $105.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. Barclays boosted their price target on Consolidated Edison from $92.00 to $98.00 and gave the company an “underweight” rating in a research note on Monday, August 5th. Bank of America increased their price objective on Consolidated Edison from $97.00 to $109.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Finally, Argus upgraded shares of Consolidated Edison to a “strong-buy” rating in a research note on Friday, June 7th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $93.42.

Consolidated Edison Stock Performance

Consolidated Edison stock opened at $103.35 on Monday. The stock has a 50-day simple moving average of $100.08 and a 200 day simple moving average of $94.69. The stock has a market capitalization of $35.74 billion, a price-to-earnings ratio of 19.84, a P/E/G ratio of 3.50 and a beta of 0.36. The company has a quick ratio of 0.97, a current ratio of 1.04 and a debt-to-equity ratio of 1.08. Consolidated Edison, Inc. has a 12-month low of $80.46 and a 12-month high of $105.99.

Consolidated Edison (NYSE:ED) last announced its earnings results on Thursday, August 1st. The utilities provider reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. Consolidated Edison had a net margin of 12.03% and a return on equity of 8.67%. The company had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.08 billion. During the same period in the previous year, the firm posted $0.61 earnings per share. On average, research analysts anticipate that Consolidated Edison, Inc. will post 5.31 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Wednesday, August 14th were issued a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 3.21%. The ex-dividend date of this dividend was Wednesday, August 14th. Consolidated Edison’s dividend payout ratio is 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.