Consolidated Edison Inc $ED Shares Bought by Candriam S.C.A.

Candriam S.C.A. lifted its stake in shares of Consolidated Edison Inc (NYSE:ED - Free Report) by 17.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 102,000 shares of the utilities provider's stock after buying an additional 14,935 shares during the quarter. Candriam S.C.A.'s holdings in Consolidated Edison were worth $11,544,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. IFP Advisors Inc increased its holdings in Consolidated Edison by 194.5% in the third quarter. IFP Advisors Inc now owns 15,208 shares of the utilities provider's stock valued at $1,559,000 after buying an additional 10,044 shares during the last quarter. QRG Capital Management Inc. lifted its holdings in Consolidated Edison by 16.9% during the 1st quarter. QRG Capital Management Inc. now owns 204,989 shares of the utilities provider's stock worth $23,201,000 after buying an additional 29,635 shares during the last quarter. North Dakota State Investment Board acquired a new position in shares of Consolidated Edison during the 4th quarter worth about $1,228,000. Los Angeles Capital Management LLC boosted its position in shares of Consolidated Edison by 9.0% during the 4th quarter. Los Angeles Capital Management LLC now owns 253,230 shares of the utilities provider's stock worth $24,865,000 after acquiring an additional 20,972 shares in the last quarter. Finally, AIA Group Ltd increased its holdings in shares of Consolidated Edison by 99.5% in the 3rd quarter. AIA Group Ltd now owns 46,786 shares of the utilities provider's stock valued at $4,703,000 after acquiring an additional 23,337 shares during the last quarter. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

Consolidated Edison Trading Up 0.1%

NYSE:ED opened at $111.24 on Monday. The company has a market capitalization of $41.00 billion, a PE ratio of 18.73, a P/E/G ratio of 2.82 and a beta of 0.27. Consolidated Edison Inc has a 52-week low of $94.96 and a 52-week high of $116.23. The stock's 50 day moving average price is $108.12 and its 200 day moving average price is $108.21. 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 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Wednesday, May 13th were issued a $0.8875 dividend. This represents a $3.55 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend was Wednesday, May 13th. Consolidated Edison's payout ratio is presently 59.76%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Wells Fargo & Company set a $98.00 target price on Consolidated Edison in a research note on Tuesday, April 21st. The Goldman Sachs Group reiterated a "sell" rating and issued a $105.00 price target on shares of Consolidated Edison in a research note on Thursday, May 14th. Barclays cut their price objective on shares of Consolidated Edison from $110.00 to $107.00 and set an "underweight" rating on the stock in a report on Monday, May 11th. Evercore set a $116.00 target price on shares of Consolidated Edison in a report on Monday, May 11th. Finally, Weiss Ratings raised shares of Consolidated Edison from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, April 24th. Two investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and six have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Reduce" and an average price target of $108.07.

Consolidated Edison Company Profile

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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