Consolidated Edison, Inc. (NYSE:ED) Position Reduced by Axa S.A.

AXA S.A. cut its stake in shares of Consolidated Edison, Inc. (NYSE:ED - Free Report) by 31.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 58,738 shares of the utilities provider's stock after selling 26,510 shares during the quarter. AXA S.A.'s holdings in Consolidated Edison were worth $5,241,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Barclays PLC raised its stake in shares of Consolidated Edison by 30.1% during the 3rd quarter. Barclays PLC now owns 1,231,924 shares of the utilities provider's stock worth $128,279,000 after buying an additional 285,115 shares in the last quarter. World Investment Advisors LLC purchased a new position in shares of Consolidated Edison in the 3rd quarter valued at about $453,000. Tidal Investments LLC lifted its stake in shares of Consolidated Edison by 4.5% in the third quarter. Tidal Investments LLC now owns 6,437 shares of the utilities provider's stock valued at $670,000 after purchasing an additional 276 shares during the period. Principal Financial Group Inc. boosted its holdings in Consolidated Edison by 5.1% during the third quarter. Principal Financial Group Inc. now owns 477,722 shares of the utilities provider's stock worth $49,745,000 after buying an additional 23,024 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in Consolidated Edison by 4.0% in the third quarter. JPMorgan Chase & Co. now owns 2,145,128 shares of the utilities provider's stock valued at $223,373,000 after buying an additional 82,985 shares in the last quarter. Hedge funds and other institutional investors own 66.29% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Morgan Stanley set a $94.00 price objective on Consolidated Edison and gave the stock an "overweight" rating in a report on Wednesday, April 23rd. Barclays increased their price objective on shares of Consolidated Edison from $100.00 to $101.00 and gave the company an "underweight" rating in a research note on Monday, May 5th. Guggenheim upped their price target on shares of Consolidated Edison from $96.00 to $103.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. Wells Fargo & Company lifted their price objective on Consolidated Edison from $103.00 to $114.00 and gave the stock an "equal weight" rating in a research report on Friday, May 2nd. Finally, Citigroup increased their target price on Consolidated Edison from $116.00 to $120.00 and gave the company a "buy" rating in a report on Wednesday, April 9th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $105.80.

Consolidated Edison Trading Down 0.1 %

Consolidated Edison stock traded down $0.11 during trading on Friday, reaching $107.64. The company had a trading volume of 2,248,896 shares, compared to its average volume of 2,243,664. The stock's 50 day moving average price is $108.57 and its two-hundred day moving average price is $99.96. Consolidated Edison, Inc. has a 12-month low of $87.28 and a 12-month high of $114.87. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01. The firm has a market capitalization of $38.78 billion, a price-to-earnings ratio of 20.54, a PEG ratio of 3.05 and a beta of 0.29.

Consolidated Edison (NYSE:ED - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The utilities provider reported $2.25 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.05). Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. The business had revenue of $4.80 billion during the quarter, compared to analysts' expectations of $4.21 billion. During the same quarter in the previous year, the business posted $2.15 EPS. As a group, equities analysts expect that Consolidated Edison, Inc. will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Wednesday, May 14th will be paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date of this dividend is Wednesday, May 14th. Consolidated Edison's dividend payout ratio is presently 62.85%.

Consolidated Edison Company Profile

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 3.7 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 1,530 customers in parts of Manhattan.