Great West Life Assurance Co. Can boosted its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 33.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 736,907 shares of the utilities provider’s stock after purchasing an additional 183,728 shares during the period. Great West Life Assurance Co. Can owned about 0.24% of Consolidated Edison worth $59,351,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. ETRADE Capital Management LLC increased its holdings in shares of Consolidated Edison by 11.8% in the third quarter. ETRADE Capital Management LLC now owns 15,724 shares of the utilities provider’s stock worth $1,269,000 after purchasing an additional 1,663 shares during the last quarter. South Dakota Investment Council bought a new stake in shares of Consolidated Edison in the third quarter worth about $920,000. Albion Financial Group UT increased its holdings in shares of Consolidated Edison by 22.5% in the third quarter. Albion Financial Group UT now owns 52,559 shares of the utilities provider’s stock worth $4,240,000 after purchasing an additional 9,648 shares during the last quarter. Norinchukin Bank The increased its holdings in shares of Consolidated Edison by 8.8% in the third quarter. Norinchukin Bank The now owns 23,060 shares of the utilities provider’s stock worth $1,860,000 after purchasing an additional 1,869 shares during the last quarter. Finally, Assetmark Inc. increased its holdings in shares of Consolidated Edison by 50.0% in the third quarter. Assetmark Inc. now owns 7,823 shares of the utilities provider’s stock worth $631,000 after purchasing an additional 2,608 shares during the last quarter. Institutional investors own 55.69% of the company’s stock.
Shares of Consolidated Edison, Inc. (ED) traded down $0.46 during mid-day trading on Wednesday, hitting $88.02. The stock had a trading volume of 2,147,100 shares, compared to its average volume of 1,516,935. The firm has a market capitalization of $27,434.89, a P/E ratio of 22.07, a PEG ratio of 7.21 and a beta of 0.10. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.70 and a current ratio of 0.79. Consolidated Edison, Inc. has a 1-year low of $69.05 and a 1-year high of $89.58.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Wednesday, November 15th will be given a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 3.14%. The ex-dividend date of this dividend is Tuesday, November 14th. Consolidated Edison’s payout ratio is 69.00%.
ED has been the subject of several recent research reports. Morgan Stanley lifted their price target on Consolidated Edison from $78.00 to $80.00 and gave the stock an “underweight” rating in a research report on Friday, September 8th. Zacks Investment Research upgraded Consolidated Edison from a “hold” rating to a “buy” rating and set a $95.00 target price for the company in a research report on Monday, September 11th. KeyCorp restated a “hold” rating on shares of Consolidated Edison in a research report on Friday, October 20th. Jefferies Group reiterated a “hold” rating and issued a $83.50 price target on shares of Consolidated Edison in a report on Thursday, August 31st. Finally, Bank of America assumed coverage on Consolidated Edison in a report on Tuesday, October 24th. They issued a “buy” rating and a $92.00 price target for the company. Five investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. Consolidated Edison presently has a consensus rating of “Hold” and a consensus price target of $80.32.
Consolidated Edison Profile
Consolidated Edison, Inc (Con Edison) is a holding company. The Company operates through its subsidiaries, which include Consolidated Edison Company of New York, Inc (CECONY), Orange and Rockland Utilities, Inc (O&R), Con Edison Clean Energy Businesses, Inc (the Clean Energy Businesses) and Con Edison Transmission, Inc (Con Edison Transmission).
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