Amundi grew its holdings in Consolidated Edison Inc (NYSE:ED - Free Report) by 66.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,872,404 shares of the utilities provider's stock after acquiring an additional 1,543,069 shares during the quarter. Amundi owned 1.05% of Consolidated Edison worth $438,272,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of ED. Revolve Wealth Partners LLC raised its stake in Consolidated Edison by 13.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 3,721 shares of the utilities provider's stock worth $332,000 after acquiring an additional 441 shares during the last quarter. Empowered Funds LLC raised its position in Consolidated Edison by 42.1% during the 1st quarter. Empowered Funds LLC now owns 8,978 shares of the utilities provider's stock worth $993,000 after buying an additional 2,659 shares during the last quarter. Woodline Partners LP raised its position in Consolidated Edison by 40.7% during the 1st quarter. Woodline Partners LP now owns 29,271 shares of the utilities provider's stock worth $3,237,000 after buying an additional 8,468 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in Consolidated Edison in the second quarter valued at $3,256,000. Finally, Baird Financial Group Inc. grew its position in Consolidated Edison by 2.1% during the 2nd quarter. Baird Financial Group Inc. now owns 14,679 shares of the utilities provider's stock worth $1,473,000 after purchasing an additional 296 shares during the period. Hedge funds and other institutional investors own 66.29% of the company's stock.
Wall Street Analyst Weigh In
ED has been the topic of a number of recent research reports. Wells Fargo & Company set a $98.00 target price on Consolidated Edison in a research note on Tuesday, April 21st. Barclays dropped their price objective on shares of Consolidated Edison from $110.00 to $107.00 and set an "underweight" rating on the stock in a research note on Monday, May 11th. Argus set a $112.00 target price on shares of Consolidated Edison in a report on Tuesday, June 23rd. Mizuho set a $114.00 target price on shares of Consolidated Edison in a research note on Monday. Finally, The Goldman Sachs Group reiterated a "sell" rating and issued a $105.00 target price on shares of Consolidated Edison in a research note on Thursday, May 14th. Two research 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.com, Consolidated Edison has an average rating of "Reduce" and a consensus price target of $108.47.
Get Our Latest Stock Report on ED
Consolidated Edison Stock Up 0.3%
NYSE ED opened at $112.29 on Thursday. Consolidated Edison Inc has a 52 week low of $94.96 and a 52 week high of $116.23. The firm has a market cap of $41.38 billion, a PE ratio of 18.90, a P/E/G ratio of 2.91 and a beta of 0.27. The business's fifty day simple moving average is $109.34 and its 200-day simple moving average is $109.35. The company has a quick ratio of 1.09, a current ratio of 1.19 and a debt-to-equity ratio of 1.00.
Consolidated Edison Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Wednesday, August 19th will be paid a $0.8875 dividend. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $3.55 annualized dividend and a dividend yield of 3.2%. Consolidated Edison's dividend payout ratio is 59.76%.
About Consolidated Edison
(
Free Report)
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.
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