Consolidated Edison, Inc. (NYSE:ED) Stake Lessened by Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group

Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group decreased its position in Consolidated Edison, Inc. (NYSE:ED) by 1.3% in the 2nd quarter, Holdings Channel.com reports. The fund owned 14,130 shares of the utilities provider’s stock after selling 192 shares during the period. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group’s holdings in Consolidated Edison were worth $1,264,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the company. Beacon Capital Management LLC increased its stake in Consolidated Edison by 2,307.7% during the first quarter. Beacon Capital Management LLC now owns 313 shares of the utilities provider’s stock valued at $28,000 after purchasing an additional 300 shares during the last quarter. Raleigh Capital Management Inc. bought a new stake in shares of Consolidated Edison during the 4th quarter valued at about $29,000. Pathway Financial Advisers LLC acquired a new stake in Consolidated Edison during the first quarter worth about $33,000. TruNorth Capital Management LLC bought a new position in shares of Consolidated Edison in the second quarter worth $33,000. Finally, Quarry LP bought a new position in Consolidated Edison in the 4th quarter valued at about $35,000. 66.29% of the stock is currently owned by institutional investors.

Consolidated Edison Stock Performance

Shares of ED opened at $105.17 on Wednesday. The company has a 50-day moving average of $101.58 and a two-hundred day moving average of $95.38. The stock has a market cap of $36.37 billion, a price-to-earnings ratio of 20.19, a PEG ratio of 3.52 and a beta of 0.36. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.04 and a quick ratio of 0.97. Consolidated Edison, Inc. has a one year low of $80.46 and a one year high of $105.99.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.59 EPS 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 firm had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.08 billion. During the same quarter last year, the business posted $0.61 EPS. On average, equities research analysts expect that Consolidated Edison, Inc. will post 5.3 earnings per share for the current year.

Consolidated Edison Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Wednesday, August 14th were issued a dividend of $0.83 per share. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.16%. Consolidated Edison’s dividend payout ratio is 63.72%.

Analyst Ratings Changes

A number of analysts have recently weighed in on ED shares. Morgan Stanley upped their price target on shares of Consolidated Edison from $82.00 to $87.00 and gave the stock an “underweight” rating in a research note on Wednesday, September 25th. Bank of America upped their target price on Consolidated Edison from $97.00 to $109.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. UBS Group lifted their price target on Consolidated Edison from $105.00 to $106.00 and gave the company a “neutral” rating in a research report on Friday, September 20th. Argus upgraded Consolidated Edison to a “strong-buy” rating in a report on Friday, June 7th. Finally, Barclays raised their target price on Consolidated Edison from $92.00 to $98.00 and gave the company an “underweight” rating in a research note on Monday, August 5th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Consolidated Edison currently has an average rating of “Hold” and a consensus target price of $93.81.

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.