Migdal Insurance & Financial Holdings Ltd. decreased its stake in Consolidated Edison Inc (NYSE:ED) by 14.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,818 shares of the utilities provider’s stock after selling 800 shares during the period. Migdal Insurance & Financial Holdings Ltd.’s holdings in Consolidated Edison were worth $389,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in ED. Janus Henderson Group PLC raised its stake in Consolidated Edison by 6,358.2% during the 2nd quarter. Janus Henderson Group PLC now owns 2,300,677 shares of the utilities provider’s stock valued at $185,940,000 after acquiring an additional 2,265,053 shares in the last quarter. APG Asset Management N.V. raised its stake in Consolidated Edison by 38.2% during the 3rd quarter. APG Asset Management N.V. now owns 4,055,555 shares of the utilities provider’s stock valued at $327,202,000 after acquiring an additional 1,121,200 shares in the last quarter. Vanguard Group Inc. raised its stake in Consolidated Edison by 2.4% during the 2nd quarter. Vanguard Group Inc. now owns 21,821,324 shares of the utilities provider’s stock valued at $1,763,600,000 after acquiring an additional 516,860 shares in the last quarter. Balyasny Asset Management LLC raised its stake in Consolidated Edison by 5,924.7% during the 2nd quarter. Balyasny Asset Management LLC now owns 523,427 shares of the utilities provider’s stock valued at $42,303,000 after acquiring an additional 514,739 shares in the last quarter. Finally, BlackRock Inc. raised its stake in Consolidated Edison by 1.8% during the 2nd quarter. BlackRock Inc. now owns 24,544,339 shares of the utilities provider’s stock valued at $1,983,672,000 after acquiring an additional 439,840 shares in the last quarter. 55.37% of the stock is currently owned by institutional investors and hedge funds.

In related news, CEO Joseph P. Oates sold 1,908 shares of Consolidated Edison stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $83.87, for a total value of $160,023.96. Following the transaction, the chief executive officer now directly owns 24,017 shares in the company, valued at approximately $2,014,305.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders purchased a total of 183 shares of company stock worth $15,248 over the last 90 days. Insiders own 0.20% of the company’s stock.

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Shares of Consolidated Edison Inc (ED) traded down $0.47 during mid-day trading on Friday, hitting $87.19. The stock had a trading volume of 1,578,200 shares, compared to its average volume of 1,476,762. Consolidated Edison Inc has a one year low of $68.76 and a one year high of $88.08. The firm has a market cap of $27,034.92, a PE ratio of 21.74, a PEG ratio of 7.09 and a beta of 0.10. The company has a current ratio of 0.79, a quick ratio of 0.70 and a debt-to-equity ratio of 0.97.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Thursday, November 2nd. The utilities provider reported $1.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.54 by ($0.07). Consolidated Edison had a net margin of 10.42% and a return on equity of 8.42%. The firm had revenue of $3.21 billion for the quarter, compared to analyst estimates of $3.14 billion. During the same quarter last year, the business posted $1.51 earnings per share. sell-side analysts predict that Consolidated Edison Inc will post 4.1 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Wednesday, November 15th will be given a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 3.17%. The ex-dividend date is Tuesday, November 14th. Consolidated Edison’s dividend payout ratio (DPR) is presently 69.00%.

Several analysts have weighed in on ED shares. Morgan Stanley lifted their target price on Consolidated Edison from $75.00 to $78.00 and gave the company an “underweight” rating in a research note on Thursday, August 10th. Jefferies Group LLC reaffirmed a “hold” rating and set a $83.50 target price on shares of Consolidated Edison in a research note on Thursday, August 31st. Zacks Investment Research raised Consolidated Edison from a “hold” rating to a “buy” rating and set a $92.00 target price on the stock in a research note on Friday, September 22nd. ValuEngine raised Consolidated Edison from a “hold” rating to a “buy” rating in a research note on Friday. Finally, Bank of America Corporation started coverage on Consolidated Edison in a research note on Tuesday, October 24th. They set a “buy” rating and a $92.00 target price on the stock. Five analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $78.96.

Consolidated Edison 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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