Candriam Luxembourg S.C.A. grew its position in Consolidated Edison, Inc. (NYSE:ED) by 149.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 70,696 shares of the utilities provider’s stock after purchasing an additional 42,312 shares during the quarter. Candriam Luxembourg S.C.A.’s holdings in Consolidated Edison were worth $5,386,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Principal Financial Group Inc. grew its stake in Consolidated Edison by 0.5% during the first quarter. Principal Financial Group Inc. now owns 900,013 shares of the utilities provider’s stock worth $70,147,000 after purchasing an additional 4,890 shares during the period. Xact Kapitalforvaltning AB grew its stake in Consolidated Edison by 5.9% in the second quarter. Xact Kapitalforvaltning AB now owns 33,437 shares of the utilities provider’s stock valued at $2,607,000 after acquiring an additional 1,865 shares during the period. Calamos Advisors LLC grew its stake in Consolidated Edison by 22.9% in the second quarter. Calamos Advisors LLC now owns 53,995 shares of the utilities provider’s stock valued at $4,211,000 after acquiring an additional 10,076 shares during the period. Westpac Banking Corp grew its stake in Consolidated Edison by 14.6% in the second quarter. Westpac Banking Corp now owns 38,577 shares of the utilities provider’s stock valued at $3,008,000 after acquiring an additional 4,921 shares during the period. Finally, Amalgamated Bank grew its stake in Consolidated Edison by 3.6% in the second quarter. Amalgamated Bank now owns 40,064 shares of the utilities provider’s stock valued at $3,124,000 after acquiring an additional 1,400 shares during the period. Institutional investors and hedge funds own 58.37% of the company’s stock.

ED stock opened at $77.00 on Monday. Consolidated Edison, Inc. has a twelve month low of $71.12 and a twelve month high of $89.70. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.56 and a current ratio of 0.62. The company has a market capitalization of $23.98 billion and a PE ratio of 18.83.

Consolidated Edison (NYSE:ED) last posted its earnings results on Thursday, November 1st. The utilities provider reported $1.57 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.46 by $0.11. Consolidated Edison had a return on equity of 8.64% and a net margin of 12.60%. The company had revenue of $3.33 billion for the quarter, compared to analyst estimates of $3.17 billion. During the same quarter last year, the company earned $1.47 earnings per share. Equities research analysts anticipate that Consolidated Edison, Inc. will post 4.28 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, December 17th. Stockholders of record on Wednesday, November 14th will be issued a $0.715 dividend. The ex-dividend date of this dividend is Tuesday, November 13th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 3.71%. Consolidated Edison’s dividend payout ratio is presently 69.93%.

A number of equities research analysts have commented on ED shares. Zacks Investment Research raised Consolidated Edison from a “hold” rating to a “buy” rating and set a $90.00 price objective for the company in a research note on Wednesday, September 12th. Bank of America raised their price objective on Consolidated Edison from $84.50 to $85.00 and gave the company a “buy” rating in a research note on Wednesday, September 26th. Morgan Stanley reduced their price objective on Consolidated Edison from $81.00 to $77.00 and set a “sell” rating for the company in a research note on Friday, September 21st. ValuEngine cut Consolidated Edison from a “hold” rating to a “sell” rating in a research note on Wednesday, September 26th. Finally, UBS Group raised their price objective on Consolidated Edison from $83.00 to $84.00 and gave the company a “neutral” rating in a research note on Friday, September 21st. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $77.18.

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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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