Mn Services Vermogensbeheer B.V. increased its holdings in shares of Consolidated Edison, Inc. (NYSE:ED) by 3.1% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 49,816 shares of the utilities provider’s stock after purchasing an additional 1,500 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Consolidated Edison were worth $3,795,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. Millennium Management LLC boosted its holdings in shares of Consolidated Edison by 1,396.5% during the first quarter. Millennium Management LLC now owns 117,877 shares of the utilities provider’s stock worth $9,187,000 after acquiring an additional 110,000 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Consolidated Edison by 0.5% during the first quarter. Principal Financial Group Inc. now owns 900,013 shares of the utilities provider’s stock worth $70,147,000 after acquiring an additional 4,890 shares during the period. DnB Asset Management AS boosted its holdings in shares of Consolidated Edison by 7.7% during the second quarter. DnB Asset Management AS now owns 47,509 shares of the utilities provider’s stock worth $3,705,000 after acquiring an additional 3,400 shares during the period. IFM Investors Pty Ltd boosted its holdings in shares of Consolidated Edison by 43.5% during the second quarter. IFM Investors Pty Ltd now owns 13,937 shares of the utilities provider’s stock worth $1,087,000 after acquiring an additional 4,225 shares during the period. Finally, Fisher Asset Management LLC bought a new stake in shares of Consolidated Edison during the second quarter worth approximately $311,000. Institutional investors and hedge funds own 58.60% of the company’s stock.
NYSE ED opened at $78.26 on Thursday. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.62 and a quick ratio of 0.56. Consolidated Edison, Inc. has a 1-year low of $71.12 and a 1-year high of $89.70. The company has a market capitalization of $24.05 billion and a PE ratio of 19.13.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 17th. Stockholders of record on Wednesday, November 14th will be given a $0.715 dividend. The ex-dividend date is Tuesday, November 13th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 3.65%. Consolidated Edison’s payout ratio is 69.93%.
A number of brokerages have recently issued reports on ED. Morgan Stanley boosted their price objective on Consolidated Edison from $77.00 to $81.00 and gave the stock a “sell” rating in a report on Tuesday, September 11th. ValuEngine upgraded Consolidated Edison from a “sell” rating to a “hold” rating in a report on Tuesday, October 2nd. Goldman Sachs Group upgraded Consolidated Edison from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $72.00 to $73.00 in a report on Monday. Bank of America boosted their price objective on Consolidated Edison from $84.50 to $85.00 and gave the stock a “buy” rating in a report on Wednesday, September 26th. Finally, Scotiabank began coverage on Consolidated Edison in a report on Tuesday, July 24th. They set a “sell” rating and a $32.00 price objective for the company. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $77.18.
About Consolidated Edison
Consolidated Edison, Inc, through its subsidiaries, engages in regulated electric, gas, and steam delivery businesses in the United States. The company offers electric services to approximately 3.4 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 1,600 customers in parts of Manhattan.
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