Banque Cantonale Vaudoise Buys Shares of 26,089 Consolidated Edison Inc (NYSE:ED)

Banque Cantonale Vaudoise purchased a new position in Consolidated Edison Inc (NYSE:ED - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 26,089 shares of the utilities provider's stock, valued at approximately $2,885,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in ED. Geode Capital Management LLC boosted its stake in Consolidated Edison by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 8,984,022 shares of the utilities provider's stock valued at $799,684,000 after purchasing an additional 130,234 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Consolidated Edison by 6.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,820,449 shares of the utilities provider's stock valued at $430,129,000 after buying an additional 271,088 shares during the period. Northern Trust Corp lifted its holdings in shares of Consolidated Edison by 10.2% during the 4th quarter. Northern Trust Corp now owns 4,207,753 shares of the utilities provider's stock valued at $375,458,000 after buying an additional 390,708 shares during the period. Invesco Ltd. lifted its holdings in shares of Consolidated Edison by 27.9% during the 4th quarter. Invesco Ltd. now owns 3,721,730 shares of the utilities provider's stock valued at $332,090,000 after buying an additional 812,885 shares during the period. Finally, Deutsche Bank AG lifted its holdings in shares of Consolidated Edison by 22.1% during the 4th quarter. Deutsche Bank AG now owns 1,702,855 shares of the utilities provider's stock valued at $151,946,000 after buying an additional 308,683 shares during the period. Hedge funds and other institutional investors own 66.29% of the company's stock.

Consolidated Edison Trading Up 0.9%

Shares of Consolidated Edison stock traded up $0.91 on Friday, reaching $104.41. The company had a trading volume of 2,272,574 shares, compared to its average volume of 2,755,390. The firm has a market cap of $37.62 billion, a price-to-earnings ratio of 19.30, a P/E/G ratio of 3.27 and a beta of 0.26. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.28 and a quick ratio of 1.19. The firm's 50-day moving average price is $101.54 and its two-hundred day moving average price is $102.57. 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 posted its quarterly earnings data on Thursday, May 1st. The utilities provider reported $2.25 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.30 by ($0.05). Consolidated Edison had a net margin of 11.98% and a return on equity of 8.61%. The business had revenue of $4.80 billion for the quarter, compared to analysts' expectations of $4.21 billion. During the same quarter in the previous year, the firm earned $2.15 EPS. As a group, research analysts predict that Consolidated Edison Inc will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Wednesday, August 13th will be issued a dividend of $0.85 per share. The ex-dividend date is Wednesday, August 13th. This represents a $3.40 dividend on an annualized basis and a yield of 3.3%. Consolidated Edison's payout ratio is presently 62.85%.

Analyst Ratings Changes

Several research firms have recently weighed in on ED. Guggenheim increased their price target on 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 increased their price target on Consolidated Edison from $103.00 to $114.00 and gave the company an "equal weight" rating in a report on Friday, May 2nd. Mizuho raised Consolidated Edison from a "neutral" rating to an "outperform" rating and increased their price target for the company from $105.00 to $107.00 in a report on Monday, June 30th. Morgan Stanley lowered their price target on Consolidated Edison from $93.00 to $92.00 and set an "underweight" rating on the stock in a report on Wednesday, June 18th. Finally, KeyCorp reaffirmed an "overweight" rating on shares of Consolidated Edison in a report on Wednesday, July 16th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $105.09.

Consolidated Edison 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.