Consolidated Edison Inc $ED Shares Acquired by Candriam S.C.A.

Candriam S.C.A. increased its stake in shares of Consolidated Edison Inc (NYSE:ED) by 17.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 102,000 shares of the utilities provider’s stock after buying an additional 14,935 shares during the quarter. Candriam S.C.A.’s holdings in Consolidated Edison were worth $11,544,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC raised its stake in Consolidated Edison by 26.2% during the 1st quarter. Sequoia Financial Advisors LLC now owns 36,498 shares of the utilities provider’s stock valued at $4,131,000 after acquiring an additional 7,582 shares during the last quarter. Walled Lake Planning & Wealth Management LLC grew its stake in shares of Consolidated Edison by 9.4% in the 1st quarter. Walled Lake Planning & Wealth Management LLC now owns 2,549 shares of the utilities provider’s stock valued at $289,000 after purchasing an additional 218 shares during the last quarter. Equitable Trust Co. grew its stake in shares of Consolidated Edison by 1.1% in the 1st quarter. Equitable Trust Co. now owns 11,342 shares of the utilities provider’s stock valued at $1,284,000 after purchasing an additional 128 shares during the last quarter. Kestra Advisory Services LLC increased its holdings in shares of Consolidated Edison by 0.4% in the first quarter. Kestra Advisory Services LLC now owns 69,360 shares of the utilities provider’s stock valued at $7,850,000 after purchasing an additional 271 shares during the period. Finally, Resona Asset Management Co. Ltd. increased its holdings in shares of Consolidated Edison by 0.4% in the first quarter. Resona Asset Management Co. Ltd. now owns 210,424 shares of the utilities provider’s stock valued at $23,824,000 after purchasing an additional 847 shares during the period. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Stock Up 0.1%

Consolidated Edison stock opened at $111.24 on Monday. The stock’s 50 day moving average price is $108.12 and its 200 day moving average price is $108.21. Consolidated Edison Inc has a 1-year low of $94.96 and a 1-year high of $116.23. The company has a market cap of $41.00 billion, a PE ratio of 18.73, a price-to-earnings-growth ratio of 2.82 and a beta of 0.27. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.19 and a quick ratio of 1.09.

Consolidated Edison Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Wednesday, May 13th were given a dividend of $0.8875 per share. This represents a $3.55 annualized dividend and a dividend yield of 3.2%. The ex-dividend date was Wednesday, May 13th. Consolidated Edison’s payout ratio is presently 59.76%.

Wall Street Analyst Weigh In

Several research firms have recently commented on ED. Mizuho restated a “neutral” rating and set a $105.00 price target on shares of Consolidated Edison in a research note on Tuesday, June 2nd. Wells Fargo & Company set a $98.00 price objective on shares of Consolidated Edison in a research note on Tuesday, April 21st. Argus set a $112.00 price objective on shares of Consolidated Edison in a research note on Tuesday, June 23rd. Weiss Ratings upgraded shares of Consolidated Edison from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, April 24th. Finally, KeyCorp raised their target price on shares of Consolidated Edison from $96.00 to $97.00 and gave the stock an “underweight” rating in a research note on Tuesday, April 21st. Two analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and six have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $108.07.

About Consolidated Edison

Consolidated Edison, Inc, commonly known as Con Edison, is an investor-owned energy company that primarily delivers electricity, natural gas and steam to customers in the New York metropolitan area. Its regulated utility operations include the distribution and transmission of electric power, the distribution of natural gas, and the operation of one of the largest district steam systems in the United States, serving commercial, institutional and residential customers in New York City and nearby counties.

The company operates through regulated utility subsidiaries that serve urban and suburban service territories, together with non-utility businesses that develop, own and manage energy infrastructure and clean energy projects.