Bank of Hawaii cut its holdings in Consolidated Edison, Inc. (NYSE:ED) by 15.5% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 3,783 shares of the utilities provider’s stock after selling 694 shares during the period. Bank of Hawaii’s holdings in Consolidated Edison were worth $295,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Autus Asset Management LLC lifted its position in Consolidated Edison by 0.9% in the 2nd quarter. Autus Asset Management LLC now owns 70,652 shares of the utilities provider’s stock valued at $5,509,000 after purchasing an additional 656 shares during the last quarter. Howe & Rusling Inc. lifted its position in Consolidated Edison by 58.4% in the 2nd quarter. Howe & Rusling Inc. now owns 1,804 shares of the utilities provider’s stock valued at $141,000 after purchasing an additional 665 shares during the last quarter. Union Bankshares Corp lifted its position in Consolidated Edison by 17.5% in the 2nd quarter. Union Bankshares Corp now owns 4,584 shares of the utilities provider’s stock valued at $357,000 after purchasing an additional 684 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its position in Consolidated Edison by 0.6% in the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 126,473 shares of the utilities provider’s stock valued at $9,857,000 after purchasing an additional 739 shares during the last quarter. Finally, Moors & Cabot Inc. lifted its position in Consolidated Edison by 6.0% in the 1st quarter. Moors & Cabot Inc. now owns 13,312 shares of the utilities provider’s stock valued at $1,038,000 after purchasing an additional 757 shares during the last quarter. 57.24% of the stock is owned by institutional investors and hedge funds.

Several analysts recently weighed in on ED shares. Morgan Stanley lifted their price objective on shares of Consolidated Edison from $74.00 to $77.00 and gave the company an “underweight” rating in a research report on Monday, April 16th. Zacks Investment Research downgraded shares of Consolidated Edison from a “hold” rating to a “sell” rating in a research report on Wednesday, April 18th. ValuEngine downgraded shares of Consolidated Edison from a “buy” rating to a “hold” rating in a research report on Wednesday, May 2nd. Barclays started coverage on shares of Consolidated Edison in a research report on Tuesday, July 10th. They set an “equal weight” rating and a $81.00 price target on the stock. Finally, Howard Weil started coverage on shares of Consolidated Edison in a research report on Tuesday, July 24th. They set a “sector underperform” rating on the stock. Five research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $77.45.

ED stock opened at $78.67 on Friday. Consolidated Edison, Inc. has a 52 week low of $71.12 and a 52 week high of $89.70. The stock has a market cap of $24.43 billion, a price-to-earnings ratio of 19.23, a P/E/G ratio of 6.13 and a beta of 0.06. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.57 and a current ratio of 0.63.

Consolidated Edison (NYSE:ED) last released its quarterly earnings results on Thursday, August 2nd. The utilities provider reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.04. Consolidated Edison had a net margin of 12.90% and a return on equity of 8.52%. The company had revenue of $2.70 billion for the quarter, compared to the consensus estimate of $2.64 billion. During the same period in the previous year, the firm earned $0.58 EPS. research analysts expect that Consolidated Edison, Inc. will post 4.27 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, September 17th. Shareholders of record on Wednesday, August 15th will be given a dividend of $0.715 per share. The ex-dividend date is Tuesday, August 14th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 3.64%. Consolidated Edison’s dividend payout ratio (DPR) is 69.93%.

Consolidated Edison Company Profile

Consolidated Edison, Inc, through its subsidiaries, engages in regulated electric, gas, and steam delivery businesses in the United States. The company offers electric services to approximately 3.4 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 1,600 customers in parts of Manhattan.

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

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