Consolidated Edison, Inc. (ED) Shares Bought by Citizens Financial Group Inc RI

Citizens Financial Group Inc RI grew its position in shares of Consolidated Edison, Inc. (NYSE:ED) by 34.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,671 shares of the utilities provider’s stock after buying an additional 2,729 shares during the period. Citizens Financial Group Inc RI’s holdings in Consolidated Edison were worth $907,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. WFG Advisors LP lifted its holdings in Consolidated Edison by 19.6% during the 2nd quarter. WFG Advisors LP now owns 1,308 shares of the utilities provider’s stock worth $106,000 after buying an additional 214 shares during the last quarter. Mn Services Vermogensbeheer B.V. lifted its holdings in Consolidated Edison by 1.2% during the 3rd quarter. Mn Services Vermogensbeheer B.V. now owns 50,016 shares of the utilities provider’s stock worth $4,035,000 after buying an additional 600 shares during the last quarter. Sii Investments Inc. WI lifted its holdings in Consolidated Edison by 11.2% during the 3rd quarter. Sii Investments Inc. WI now owns 6,004 shares of the utilities provider’s stock worth $482,000 after buying an additional 603 shares during the last quarter. Welch Investments LLC lifted its holdings in Consolidated Edison by 1.2% during the 4th quarter. Welch Investments LLC now owns 54,448 shares of the utilities provider’s stock worth $4,625,000 after buying an additional 641 shares during the last quarter. Finally, First Manhattan Co. lifted its holdings in Consolidated Edison by 10.2% during the 3rd quarter. First Manhattan Co. now owns 7,017 shares of the utilities provider’s stock worth $566,000 after buying an additional 651 shares during the last quarter. 56.14% of the stock is currently owned by institutional investors.

Shares of Consolidated Edison, Inc. (NYSE:ED) opened at $77.77 on Monday. The stock has a market capitalization of $24,139.57, a P/E ratio of 15.74, a P/E/G ratio of 9.11 and a beta of 0.03. Consolidated Edison, Inc. has a 1-year low of $72.63 and a 1-year high of $89.70. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.79 and a quick ratio of 0.70.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings results on Thursday, February 15th. The utilities provider reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.02. The business had revenue of $2.96 billion for the quarter, compared to the consensus estimate of $2.64 billion. Consolidated Edison had a return on equity of 8.61% and a net margin of 12.67%. The business’s revenue was up 9.4% on a year-over-year basis. During the same quarter last year, the business posted $0.69 EPS. analysts forecast that Consolidated Edison, Inc. will post 4.27 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Wednesday, February 14th will be paid a dividend of $0.715 per share. The ex-dividend date is Tuesday, February 13th. This represents a $2.86 annualized dividend and a yield of 3.68%. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.69. Consolidated Edison’s payout ratio is presently 57.89%.

ED has been the topic of a number of research analyst reports. Zacks Investment Research raised Consolidated Edison from a “hold” rating to a “buy” rating and set a $94.00 target price on the stock in a report on Wednesday, January 3rd. ValuEngine raised Consolidated Edison from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Bank of America began coverage on Consolidated Edison in a report on Tuesday, October 24th. They issued a “buy” rating and a $92.00 price target on the stock. Guggenheim reissued a “hold” rating and issued a $88.00 price target on shares of Consolidated Edison in a report on Wednesday, January 3rd. Finally, UBS Group began coverage on Consolidated Edison in a report on Friday, February 2nd. They issued a “neutral” rating and a $80.00 price target on the stock. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. Consolidated Edison currently has an average rating of “Hold” and an average price target of $81.32.

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About Consolidated Edison

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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