Consolidated Edison Inc $ED Stake Reduced by PBU The Pension Fund of Early Childhood & Youth Educators

PBU The Pension Fund of Early Childhood & Youth Educators decreased its stake in Consolidated Edison Inc (NYSE:ED) by 13.4% in the 3rd quarter, Holdings Channel.com reports. The fund owned 176,966 shares of the utilities provider’s stock after selling 27,329 shares during the quarter. PBU The Pension Fund of Early Childhood & Youth Educators’ holdings in Consolidated Edison were worth $18,088,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Nykredit A S acquired a new position in shares of Consolidated Edison during the 2nd quarter worth about $23,566,000. SteelPeak Wealth LLC bought a new position in shares of Consolidated Edison during the 1st quarter worth approximately $3,751,000. Fifth Third Wealth Advisors LLC increased its holdings in shares of Consolidated Edison by 265.6% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 15,667 shares of the utilities provider’s stock worth $1,601,000 after acquiring an additional 11,382 shares during the last quarter. SWS Partners acquired a new position in shares of Consolidated Edison during the 2nd quarter worth approximately $3,060,000. Finally, Tidal Investments LLC raised its position in shares of Consolidated Edison by 75.5% in the second quarter. Tidal Investments LLC now owns 35,439 shares of the utilities provider’s stock valued at $3,921,000 after purchasing an additional 15,243 shares during the period. 66.29% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ED has been the subject of several research reports. JPMorgan Chase & Co. dropped their price target on Consolidated Edison from $115.00 to $112.00 and set an “underweight” rating for the company in a report on Wednesday, August 19th. The Goldman Sachs Group lowered their price objective on Consolidated Edison from $106.00 to $102.00 in a research report on Thursday, October 15th. HSBC assumed coverage on shares of Consolidated Edison in a research note on Thursday, October 22nd. They issued a “hold” rating and a $104.00 price objective for the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Consolidated Edison in a research report on Monday, October 19th. Finally, Evercore reduced their target price on Consolidated Edison from $116.00 to $112.00 in a report on Thursday, October 8th. Five research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and six have given a Sell rating to the company. According to data from MarketBeat.com, Consolidated Edison presently has a consensus rating of “Reduce” and a consensus price target of $109.74.

Consolidated Edison Trading Up 0.1%

Shares of ED opened at $119.28 on Friday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.07 and a current ratio of 1.18. Consolidated Edison Inc has a 52-week low of $94.96 and a 52-week high of $122.75. The firm has a market cap of $44.27 billion, a price-to-earnings ratio of 19.08, a PEG ratio of 4.13 and a beta of 0.23. The business’s fifty day moving average is $109.84 and its 200-day moving average is $109.65.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings data on Thursday, November 5th. The utilities provider reported $2.07 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.04. Consolidated Edison had a return on equity of 8.58% and a net margin of 12.70%. The business had revenue of $4.91 billion during the quarter, compared to the consensus estimate of $4.75 billion. During the same period in the prior year, the company earned $1.90 EPS. Equities analysts anticipate that Consolidated Edison Inc will post 6.10 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Wednesday, November 18th will be paid a dividend of $0.8875 per share. The ex-dividend date of this dividend is Wednesday, November 18th. This represents a $3.55 annualized dividend and a yield of 3.0%. Consolidated Edison’s payout ratio is presently 56.80%.

About Consolidated Edison

Consolidated Edison, Inc. is an energy holding company whose principal business is delivering electricity, natural gas and steam through regulated utility subsidiaries. Its services include generating, transmitting and distributing energy to residential, commercial and industrial customers. Its largest subsidiary, Consolidated Edison Company of New York, serves customers in New York City and Westchester County. Orange and Rockland Utilities serves parts of southeastern New York and northern New Jersey.