Public Sector Pension Investment Board Has $6.29 Million Stock Holdings in Consolidated Edison, Inc. (NYSE:ED)

Public Sector Pension Investment Board raised its holdings in Consolidated Edison, Inc. (NYSE:ED) by 2.9% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 60,357 shares of the utilities provider’s stock after buying an additional 1,700 shares during the quarter. Public Sector Pension Investment Board’s holdings in Consolidated Edison were worth $6,285,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Clean Energy Transition LLP grew its stake in shares of Consolidated Edison by 227.9% in the second quarter. Clean Energy Transition LLP now owns 897,553 shares of the utilities provider’s stock worth $80,259,000 after acquiring an additional 623,787 shares during the last quarter. FMR LLC grew its position in Consolidated Edison by 82.3% in the 3rd quarter. FMR LLC now owns 1,268,424 shares of the utilities provider’s stock worth $132,081,000 after purchasing an additional 572,530 shares during the last quarter. International Assets Investment Management LLC increased its holdings in shares of Consolidated Edison by 10,262.1% during the 3rd quarter. International Assets Investment Management LLC now owns 553,546 shares of the utilities provider’s stock worth $57,641,000 after purchasing an additional 548,204 shares during the period. Acadian Asset Management LLC lifted its stake in shares of Consolidated Edison by 302.3% in the second quarter. Acadian Asset Management LLC now owns 709,172 shares of the utilities provider’s stock valued at $63,396,000 after buying an additional 532,893 shares during the period. Finally, Assenagon Asset Management S.A. grew its position in Consolidated Edison by 4,020.5% during the third quarter. Assenagon Asset Management S.A. now owns 406,859 shares of the utilities provider’s stock worth $42,366,000 after buying an additional 396,985 shares in the last quarter. 66.29% of the stock is owned by institutional investors.

Consolidated Edison Trading Down 1.0 %

ED stock opened at $100.59 on Friday. The business has a fifty day moving average price of $101.75 and a 200 day moving average price of $98.21. 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 fifty-two week low of $85.85 and a fifty-two week high of $107.75. The stock has a market capitalization of $34.85 billion, a price-to-earnings ratio of 18.94, a P/E/G ratio of 3.41 and a beta of 0.36.

Consolidated Edison (NYSE:ED) last announced its earnings results on Thursday, November 7th. The utilities provider reported $1.68 earnings per share for the quarter, beating analysts’ consensus estimates of $1.56 by $0.12. The company had revenue of $4.09 billion during the quarter, compared to analyst estimates of $4.02 billion. Consolidated Edison had a return on equity of 8.70% and a net margin of 12.27%. Analysts expect that Consolidated Edison, Inc. will post 5.33 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Wednesday, November 13th will be paid a dividend of $0.83 per share. The ex-dividend date is Wednesday, November 13th. This represents a $3.32 annualized dividend and a dividend yield of 3.30%. Consolidated Edison’s dividend payout ratio (DPR) is currently 62.52%.

Analysts Set New Price Targets

Several research firms have commented on ED. Bank of America upped their price target on Consolidated Edison from $97.00 to $109.00 and gave the company a “buy” rating in a report on Monday, August 5th. Morgan Stanley cut their target price on Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating for the company in a research note on Friday, November 22nd. Scotiabank boosted their price target on shares of Consolidated Edison from $85.00 to $90.00 and gave the company a “sector underperform” rating in a report on Tuesday, August 20th. UBS Group increased their price objective on shares of Consolidated Edison from $105.00 to $106.00 and gave the company a “neutral” rating in a research note on Friday, September 20th. Finally, Citigroup upgraded shares of Consolidated Edison from a “neutral” rating to a “buy” rating and lifted their target price for the company from $103.00 to $116.00 in a research report on Tuesday, October 15th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating, two have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $99.13.

About Consolidated Edison

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.