Citizens Financial Group Inc RI held its stake in Consolidated Edison Inc (NYSE:ED) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,482 shares of the utilities provider’s stock at the close of the 2nd quarter. Citizens Financial Group Inc RI’s holdings in Consolidated Edison were worth $686,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. BlackRock Inc. boosted its holdings in Consolidated Edison by 1,771.1% in the 1st quarter. BlackRock Inc. now owns 24,104,499 shares of the utilities provider’s stock valued at $1,871,955,000 after purchasing an additional 22,816,233 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Consolidated Edison by 3.5% in the 1st quarter. Vanguard Group Inc. now owns 21,304,464 shares of the utilities provider’s stock valued at $1,654,504,000 after purchasing an additional 725,857 shares in the last quarter. State Street Corp boosted its holdings in Consolidated Edison by 0.4% in the 1st quarter. State Street Corp now owns 19,962,044 shares of the utilities provider’s stock valued at $1,550,245,000 after purchasing an additional 77,044 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Consolidated Edison by 34.1% in the 1st quarter. Bank of New York Mellon Corp now owns 3,478,494 shares of the utilities provider’s stock valued at $270,138,000 after purchasing an additional 884,788 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Consolidated Edison by 7.1% in the 1st quarter. Geode Capital Management LLC now owns 3,071,862 shares of the utilities provider’s stock valued at $238,233,000 after purchasing an additional 204,869 shares in the last quarter. 55.09% of the stock is currently owned by institutional investors.

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A number of brokerages have weighed in on ED. Zacks Investment Research lowered Consolidated Edison from a “buy” rating to a “hold” rating in a report on Tuesday. BidaskClub raised Consolidated Edison from a “hold” rating to a “buy” rating in a report on Tuesday, August 22nd. Finally, Jefferies Group LLC lowered Consolidated Edison from a “buy” rating to a “hold” rating and lowered their price objective for the company from $88.00 to $83.50 in a report on Tuesday, June 13th. Five investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $77.27.

In related news, CEO Joseph P. Oates sold 1,908 shares of the firm’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $83.87, for a total transaction of $160,023.96. Following the completion of the sale, the chief executive officer now directly owns 24,017 shares in the company, valued at $2,014,305.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders bought 471 shares of company stock valued at $39,202 over the last quarter. Insiders own 0.20% of the company’s stock.

Shares of Consolidated Edison Inc (NYSE:ED) traded down 0.20% on Wednesday, hitting $84.04. The company had a trading volume of 216,948 shares. Consolidated Edison Inc has a 12 month low of $68.76 and a 12 month high of $86.16. The company has a 50-day moving average of $83.55 and a 200 day moving average of $80.82. The stock has a market cap of $25.69 billion, a PE ratio of 20.33 and a beta of 0.09.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.03). The company had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.79 billion. Consolidated Edison had a net margin of 10.57% and a return on equity of 8.59%. During the same quarter last year, the business earned $0.60 earnings per share. Analysts anticipate that Consolidated Edison Inc will post $4.09 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Wednesday, August 16th will be issued a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 3.28%. The ex-dividend date is Monday, August 14th. Consolidated Edison’s dividend payout ratio (DPR) is presently 66.67%.

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

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