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Natixis Advisors LLC Increases Holdings in Consolidated Edison Inc (NYSE:ED)

Consolidated Edison logo with Utilities background

Key Points

  • Natixis Advisors LLC increased its stake in Consolidated Edison Inc by 18.1% in the first quarter, now owning approximately 181,114 shares valued at $20 million.
  • Consolidated Edison recently announced a quarterly dividend of $0.85 per share, representing an annualized yield of 3.3%.
  • The stock has a consensus rating of "Hold" from analysts, with a target price of $105.09.
  • Interested in Consolidated Edison? Here are five stocks we like better.

Natixis Advisors LLC increased its stake in shares of Consolidated Edison Inc (NYSE:ED - Free Report) by 18.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 181,114 shares of the utilities provider's stock after purchasing an additional 27,749 shares during the period. Natixis Advisors LLC owned 0.05% of Consolidated Edison worth $20,029,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of ED. Alpine Bank Wealth Management acquired a new position in shares of Consolidated Edison during the 1st quarter worth approximately $32,000. Fort Vancouver Investment Management LLC acquired a new position in Consolidated Edison in the 1st quarter valued at $33,000. Wood Tarver Financial Group LLC acquired a new position in Consolidated Edison in the 4th quarter valued at $35,000. Elite Financial Inc. acquired a new position in Consolidated Edison in the 1st quarter valued at $38,000. Finally, N.E.W. Advisory Services LLC acquired a new position in Consolidated Edison in the 1st quarter valued at $44,000. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Consolidated Edison Trading Up 0.9%

Shares of ED stock traded up $0.93 on Monday, reaching $105.37. 2,345,136 shares of the stock were exchanged, compared to its average volume of 2,050,562. The stock has a market cap of $37.96 billion, a P/E ratio of 19.48, a price-to-earnings-growth ratio of 3.33 and a beta of 0.24. The company has a quick ratio of 1.19, a current ratio of 1.28 and a debt-to-equity ratio of 1.04. The firm has a 50 day moving average of $101.57 and a two-hundred day moving average of $102.92. 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 announced its quarterly earnings results on Thursday, May 1st. The utilities provider reported $2.25 earnings per share for the quarter, missing analysts' consensus estimates of $2.30 by ($0.05). Consolidated Edison had a return on equity of 8.61% and a net margin of 11.98%. The business had revenue of $4.80 billion for the quarter, compared to analysts' expectations of $4.21 billion. During the same period last year, the company posted $2.15 earnings per share. On average, research analysts anticipate that Consolidated Edison Inc will post 5.62 EPS for the current year.

Consolidated Edison Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Wednesday, August 13th will be given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Wednesday, August 13th. Consolidated Edison's dividend payout ratio is 62.85%.

Analyst Upgrades and Downgrades

ED has been the subject of several analyst reports. Guggenheim boosted 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. Mizuho upgraded Consolidated Edison from a "neutral" rating to an "outperform" rating and boosted their price target for the company from $105.00 to $107.00 in a report on Monday, June 30th. Barclays boosted their price target on Consolidated Edison from $100.00 to $101.00 and gave the company an "underweight" rating in a report on Monday, May 5th. Wells Fargo & Company boosted 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. Finally, KeyCorp reiterated an "overweight" rating on shares of Consolidated Edison in a report on Wednesday, July 16th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Consolidated Edison presently has a consensus rating of "Hold" and a consensus target price of $105.09.

Read Our Latest Report on ED

Consolidated Edison Profile

(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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