Citizens Financial Group Inc RI Buys 242 Shares of Consolidated Edison, Inc. (NYSE:ED)

Citizens Financial Group Inc RI raised its holdings in shares of Consolidated Edison, Inc. (NYSE:EDGet Rating) by 2.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,596 shares of the utilities provider’s stock after acquiring an additional 242 shares during the quarter. Citizens Financial Group Inc RI’s holdings in Consolidated Edison were worth $819,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Mitsubishi UFJ Trust & Banking Corp increased its holdings in shares of Consolidated Edison by 3.1% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 480,086 shares of the utilities provider’s stock worth $34,850,000 after purchasing an additional 14,562 shares during the period. Commonwealth Equity Services LLC increased its holdings in shares of Consolidated Edison by 1.8% in the fourth quarter. Commonwealth Equity Services LLC now owns 398,054 shares of the utilities provider’s stock worth $33,962,000 after purchasing an additional 6,850 shares during the period. Daiwa Securities Group Inc. increased its holdings in shares of Consolidated Edison by 6.4% in the fourth quarter. Daiwa Securities Group Inc. now owns 20,367 shares of the utilities provider’s stock worth $1,738,000 after purchasing an additional 1,219 shares during the period. Insight Folios Inc increased its holdings in shares of Consolidated Edison by 5.9% in the fourth quarter. Insight Folios Inc now owns 64,222 shares of the utilities provider’s stock worth $5,479,000 after purchasing an additional 3,571 shares during the period. Finally, The Manufacturers Life Insurance Company grew its position in Consolidated Edison by 3.8% in the third quarter. The Manufacturers Life Insurance Company now owns 323,297 shares of the utilities provider’s stock worth $23,468,000 after acquiring an additional 11,862 shares in the last quarter. 65.73% of the stock is currently owned by institutional investors and hedge funds.

Several analysts have issued reports on ED shares. Wells Fargo & Company lowered shares of Consolidated Edison from an “equal weight” rating to a “sell” rating and upped their price target for the company from $85.00 to $94.00 in a research report on Tuesday, May 3rd. Guggenheim downgraded shares of Consolidated Edison from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $77.00 to $71.00 in a research note on Thursday, January 20th. Credit Suisse Group started coverage on shares of Consolidated Edison in a research note on Monday, April 25th. They issued a “neutral” rating and a $100.00 price target for the company. Royal Bank of Canada increased their price target on shares of Consolidated Edison from $88.00 to $89.00 and gave the stock a “sector perform” rating in a research note on Monday, March 28th. Finally, Morgan Stanley increased their price target on shares of Consolidated Edison from $75.00 to $82.00 and gave the stock an “underweight” rating in a research note on Wednesday, April 20th. Seven analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $82.83.

In related news, Director John Mcavoy sold 74,715 shares of the firm’s stock in a transaction that occurred on Tuesday, February 22nd. The shares were sold at an average price of $84.69, for a total value of $6,327,613.35. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders purchased 536 shares of company stock worth $49,448 in the last 90 days. 0.13% of the stock is currently owned by corporate insiders.

NYSE:ED opened at $95.50 on Wednesday. The company’s 50 day moving average price is $94.06 and its 200-day moving average price is $86.67. Consolidated Edison, Inc. has a 52 week low of $71.17 and a 52 week high of $99.22. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.10. The stock has a market cap of $33.84 billion, a price-to-earnings ratio of 22.06, a PEG ratio of 10.64 and a beta of 0.23.

Consolidated Edison (NYSE:EDGet Rating) last posted its quarterly earnings results on Thursday, May 5th. The utilities provider reported $1.47 EPS for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.01). Consolidated Edison had a net margin of 10.88% and a return on equity of 7.66%. During the same quarter in the previous year, the firm posted $1.43 EPS. As a group, sell-side analysts anticipate that Consolidated Edison, Inc. will post 4.49 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 15th. Investors of record on Wednesday, May 18th will be issued a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 3.31%. The ex-dividend date is Tuesday, May 17th. Consolidated Edison’s dividend payout ratio is currently 72.98%.

Consolidated Edison Profile (Get Rating)

Consolidated Edison, Inc, through its subsidiaries, engages in the regulated electric, gas, and steam delivery businesses in the United States. It offers electric services to approximately 3.5 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 1,555 customers in parts of Manhattan.

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

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