National Bank of Canada FI Trims Stock Position in Consolidated Edison, Inc. (NYSE:ED)

National Bank of Canada FI lessened its position in shares of Consolidated Edison, Inc. (NYSE:EDGet Rating) by 11.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 22,549 shares of the utilities provider’s stock after selling 3,036 shares during the quarter. National Bank of Canada FI’s holdings in Consolidated Edison were worth $2,192,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Sound Financial Strategies Group LLC purchased a new stake in shares of Consolidated Edison during the 1st quarter valued at approximately $1,617,000. DGS Capital Management LLC raised its position in Consolidated Edison by 20.9% in the first quarter. DGS Capital Management LLC now owns 3,560 shares of the utilities provider’s stock valued at $337,000 after purchasing an additional 615 shares during the period. Haverford Trust Co raised its position in Consolidated Edison by 4.6% in the first quarter. Haverford Trust Co now owns 9,102 shares of the utilities provider’s stock valued at $862,000 after purchasing an additional 400 shares during the period. MCF Advisors LLC purchased a new stake in Consolidated Edison in the first quarter valued at approximately $82,000. Finally, New York State Common Retirement Fund raised its position in Consolidated Edison by 21.3% in the first quarter. New York State Common Retirement Fund now owns 419,848 shares of the utilities provider’s stock valued at $39,751,000 after purchasing an additional 73,640 shares during the period. Hedge funds and other institutional investors own 65.73% of the company’s stock.

Consolidated Edison Stock Performance

Shares of ED stock opened at $97.19 on Friday. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.10. The firm has a fifty day moving average price of $94.11 and a 200 day moving average price of $92.02. The company has a market cap of $34.43 billion, a P/E ratio of 22.45, a PEG ratio of 10.94 and a beta of 0.25. Consolidated Edison, Inc. has a 12 month low of $71.52 and a 12 month high of $101.12.

Consolidated Edison (NYSE:EDGet Rating) last released its quarterly earnings data on Thursday, August 4th. The utilities provider reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.09. Consolidated Edison had a net margin of 10.88% and a return on equity of 7.66%. During the same period in the prior year, the firm earned $0.53 earnings per share. Sell-side analysts predict that Consolidated Edison, Inc. will post 4.49 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Wednesday, August 17th will be paid a $0.79 dividend. The ex-dividend date of this dividend is Tuesday, August 16th. This represents a $3.16 annualized dividend and a yield of 3.25%. Consolidated Edison’s dividend payout ratio is presently 72.98%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on ED shares. KeyCorp boosted their target price on Consolidated Edison from $72.00 to $75.00 and gave the company an “underweight” rating in a research report on Tuesday, July 19th. Morgan Stanley upped their price objective on Consolidated Edison from $76.00 to $77.00 and gave the stock an “underweight” rating in a research report on Thursday, July 21st. StockNews.com lowered Consolidated Edison from a “buy” rating to a “hold” rating in a research report on Tuesday, May 3rd. Credit Suisse Group assumed coverage on Consolidated Edison in a research report on Monday, April 25th. They set a “neutral” rating and a $100.00 price objective on the stock. Finally, Wells Fargo & Company lowered Consolidated Edison from an “equal weight” rating to a “sell” rating and upped their price objective for the stock from $85.00 to $94.00 in a research report on Tuesday, May 3rd. Five investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Consolidated Edison presently has an average rating of “Hold” and an average price target of $85.91.

Consolidated Edison Profile

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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 3.5 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 1,555 customers in parts of Manhattan.

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Institutional Ownership by Quarter for Consolidated Edison (NYSE:ED)

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