Mizuho Markets Americas LLC Sells 6,399 Shares of Consolidated Edison, Inc. (NYSE:ED)

Mizuho Markets Americas LLC reduced its position in Consolidated Edison, Inc. (NYSE:ED) by 9.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 60,523 shares of the utilities provider’s stock after selling 6,399 shares during the quarter. Mizuho Markets Americas LLC’s holdings in Consolidated Edison were worth $6,302,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of ED. Capital Performance Advisors LLP acquired a new position in shares of Consolidated Edison during the 3rd quarter worth $27,000. Beacon Capital Management LLC lifted its holdings in shares of Consolidated Edison by 2,307.7% in the first quarter. Beacon Capital Management LLC now owns 313 shares of the utilities provider’s stock worth $28,000 after acquiring an additional 300 shares during the last quarter. Ashton Thomas Securities LLC acquired a new stake in shares of Consolidated Edison in the 3rd quarter valued at approximately $30,000. Pathway Financial Advisers LLC bought a new stake in shares of Consolidated Edison during the 1st quarter valued at approximately $33,000. Finally, TruNorth Capital Management LLC acquired a new position in Consolidated Edison during the 2nd quarter worth approximately $33,000. 66.29% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Evercore ISI upgraded shares of Consolidated Edison from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 8th. Bank of America raised their price objective on Consolidated Edison from $97.00 to $109.00 and gave the company a “buy” rating in a report on Monday, August 5th. Citigroup upgraded Consolidated Edison from a “neutral” rating to a “buy” rating and increased their target price for the company from $103.00 to $116.00 in a research report on Tuesday, October 15th. Morgan Stanley lifted their price target on Consolidated Edison from $82.00 to $87.00 and gave the company an “underweight” rating in a research note on Wednesday, September 25th. Finally, Barclays lowered their price objective on Consolidated Edison from $104.00 to $99.00 and set an “underweight” rating for the company in a research note on Friday, November 8th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Consolidated Edison presently has a consensus rating of “Hold” and a consensus price target of $98.35.

Consolidated Edison Trading Up 1.2 %

NYSE:ED opened at $96.43 on Friday. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93. Consolidated Edison, Inc. has a one year low of $85.85 and a one year high of $107.75. The company has a market cap of $33.40 billion, a PE ratio of 18.16, a PEG ratio of 3.21 and a beta of 0.36. The firm has a 50-day moving average of $102.68 and a 200-day moving average of $97.99.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings data on Thursday, November 7th. The utilities provider reported $1.68 EPS for the quarter, topping the consensus estimate of $1.56 by $0.12. The firm had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $4.02 billion. Consolidated Edison had a return on equity of 8.70% and a net margin of 12.27%. As a group, equities research analysts expect that Consolidated Edison, Inc. will post 5.33 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Wednesday, November 13th will be issued a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 3.44%. The ex-dividend date is Wednesday, November 13th. Consolidated Edison’s dividend payout ratio is 62.52%.

Consolidated Edison 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.