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Bangor Savings Bank Has $403,000 Stake in Consolidated Edison, Inc. (NYSE:ED)

Consolidated Edison logo with Utilities background

Bangor Savings Bank decreased its stake in shares of Consolidated Edison, Inc. (NYSE:ED - Free Report) by 69.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,645 shares of the utilities provider's stock after selling 8,188 shares during the period. Bangor Savings Bank's holdings in Consolidated Edison were worth $403,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Park Avenue Securities LLC raised its position in Consolidated Edison by 16.5% in the first quarter. Park Avenue Securities LLC now owns 26,911 shares of the utilities provider's stock worth $2,976,000 after acquiring an additional 3,808 shares in the last quarter. Patriot Financial Group Insurance Agency LLC acquired a new position in shares of Consolidated Edison in the 1st quarter worth approximately $231,000. Wedmont Private Capital raised its holdings in shares of Consolidated Edison by 2.3% in the 1st quarter. Wedmont Private Capital now owns 9,168 shares of the utilities provider's stock worth $1,007,000 after purchasing an additional 202 shares in the last quarter. UMB Bank n.a. lifted its stake in Consolidated Edison by 4.6% during the first quarter. UMB Bank n.a. now owns 10,499 shares of the utilities provider's stock valued at $1,161,000 after purchasing an additional 463 shares during the last quarter. Finally, Sivia Capital Partners LLC acquired a new stake in Consolidated Edison during the first quarter valued at approximately $276,000. Institutional investors and hedge funds own 66.29% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on ED shares. Scotiabank increased their price objective on Consolidated Edison from $100.00 to $101.00 and gave the company a "sector perform" rating in a research report on Monday, February 24th. Barclays boosted their target price on Consolidated Edison from $100.00 to $101.00 and gave the stock an "underweight" rating in a research report on Monday, May 5th. UBS Group increased their price target on Consolidated Edison from $110.00 to $113.00 and gave the company a "neutral" rating in a research report on Friday, March 21st. KeyCorp downgraded Consolidated Edison from a "sector weight" rating to an "underweight" rating and set a $90.00 price objective on the stock. in a report on Wednesday, May 14th. Finally, Citigroup upped their price objective on shares of Consolidated Edison from $116.00 to $120.00 and gave the company a "buy" rating in a research note on Wednesday, April 9th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Consolidated Edison has a consensus rating of "Hold" and an average price target of $104.27.

Check Out Our Latest Analysis on ED

Consolidated Edison Stock Up 1.1%

Shares of ED traded up $1.17 during trading hours on Thursday, reaching $103.72. The company's stock had a trading volume of 1,902,560 shares, compared to its average volume of 2,290,667. The company has a 50 day moving average of $106.81 and a two-hundred day moving average of $100.47. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07. The firm has a market cap of $37.37 billion, a price-to-earnings ratio of 19.79, a P/E/G ratio of 3.05 and a beta of 0.27. Consolidated Edison, Inc. has a 1-year low of $87.28 and a 1-year high of $114.87.

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

Consolidated Edison Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders 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 3.28%. The ex-dividend date is Wednesday, May 14th. Consolidated Edison's dividend payout ratio (DPR) is presently 62.85%.

About Consolidated Edison

(Free Report)

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.

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

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