Forsta AP Fonden Increases Holdings in Consolidated Edison, Inc. (NYSE:ED)

Forsta AP Fonden boosted its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 21.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 113,200 shares of the utilities provider’s stock after buying an additional 20,200 shares during the period. Forsta AP Fonden’s holdings in Consolidated Edison were worth $8,217,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the business. Emfo LLC increased its position in shares of Consolidated Edison by 217.4% during the third quarter. Emfo LLC now owns 365 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 250 shares in the last quarter. JFS Wealth Advisors LLC acquired a new position in shares of Consolidated Edison in the 3rd quarter valued at $29,000. Heritage Wealth Management LLC increased its position in shares of Consolidated Edison by 388.2% in the 3rd quarter. Heritage Wealth Management LLC now owns 415 shares of the utilities provider’s stock valued at $30,000 after acquiring an additional 330 shares during the period. Creative Financial Designs Inc. ADV increased its position in shares of Consolidated Edison by 141.5% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 466 shares of the utilities provider’s stock valued at $34,000 after acquiring an additional 273 shares during the period. Finally, Isthmus Partners LLC purchased a new stake in Consolidated Edison in the second quarter valued at $36,000. Institutional investors own 61.61% of the company’s stock.

In other Consolidated Edison news, VP Yukari Saegusa sold 1,451 shares of the company’s stock in a transaction dated Friday, December 3rd. The shares were sold at an average price of $80.45, for a total value of $116,732.95. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders acquired 138 shares of company stock worth $10,413 in the last ninety days. Insiders own 0.17% of the company’s stock.

Several equities research analysts have recently issued reports on ED shares. Morgan Stanley increased their target price on shares of Consolidated Edison from $72.00 to $76.00 and gave the stock an “underweight” rating in a research note on Tuesday, December 21st. Citigroup increased their price objective on shares of Consolidated Edison from $77.00 to $84.00 and gave the company a “neutral” rating in a report on Wednesday, December 8th. KeyCorp increased their price objective on shares of Consolidated Edison from $65.00 to $71.00 and gave the company an “underweight” rating in a report on Thursday. Bank of America downgraded shares of Consolidated Edison from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $74.00 to $68.00 in a report on Monday, October 18th. Finally, Mizuho cut their price target on shares of Consolidated Edison from $78.00 to $75.00 and set a “neutral” rating for the company in a report on Thursday, October 7th. Six equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Sell” and a consensus target price of $76.00.

NYSE ED opened at $83.52 on Friday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.89 and a current ratio of 0.97. The firm has a market cap of $29.51 billion, a PE ratio of 24.93, a P/E/G ratio of 9.34 and a beta of 0.22. Consolidated Edison, Inc. has a one year low of $65.56 and a one year high of $86.25. The firm’s fifty day moving average is $81.66 and its two-hundred day moving average is $77.14.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Thursday, November 4th. The utilities provider reported $1.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.04). Consolidated Edison had a return on equity of 7.24% and a net margin of 8.81%. The firm had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.46 billion. During the same quarter last year, the firm earned $1.48 earnings per share. Research analysts predict that Consolidated Edison, Inc. will post 4.22 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 15th. Shareholders of record on Wednesday, November 17th were issued a $0.775 dividend. This represents a $3.10 annualized dividend and a dividend yield of 3.71%. The ex-dividend date of this dividend was Tuesday, November 16th. Consolidated Edison’s dividend payout ratio (DPR) is presently 92.54%.

Consolidated Edison Profile

Consolidated Edison, Inc operates as holding company, which through its subsidiaries engages in the business of regulated electric, gas, and steam delivery. It operates through the following segments: Consolidated Edison Company of New York, Inc (CECONY), Orange and Rockland Utilities, Inc (O&R), Con Edison Clean Energy Businesses, Inc and Con Edison Transmission, Inc.

Further Reading: P/E Growth (PEG)

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

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