Consolidated Edison, Inc. (NYSE:ED) Shares Purchased by Hsbc Holdings PLC

Hsbc Holdings PLC grew its stake in shares of Consolidated Edison, Inc. (NYSE:ED - Free Report) by 22.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,650,021 shares of the utilities provider's stock after buying an additional 303,228 shares during the period. Hsbc Holdings PLC owned 0.48% of Consolidated Edison worth $147,069,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of ED. Barclays PLC boosted its stake in Consolidated Edison by 30.1% during the third quarter. Barclays PLC now owns 1,231,924 shares of the utilities provider's stock worth $128,279,000 after buying an additional 285,115 shares during the period. World Investment Advisors LLC purchased a new stake in shares of Consolidated Edison in the 3rd quarter worth approximately $453,000. Sfmg LLC purchased a new stake in Consolidated Edison during the third quarter worth $208,000. Wilmington Savings Fund Society FSB purchased a new position in Consolidated Edison in the third quarter valued at about $776,000. Finally, Tidal Investments LLC boosted its holdings in shares of Consolidated Edison by 4.5% in the 3rd quarter. Tidal Investments LLC now owns 6,437 shares of the utilities provider's stock valued at $670,000 after buying an additional 276 shares in the last quarter. 66.29% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ED has been the subject of a number of recent analyst reports. Morgan Stanley set a $94.00 price objective on Consolidated Edison and gave the stock an "overweight" rating in a research report on Wednesday. Mizuho lifted their target price on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock a "neutral" rating in a research note on Monday, February 3rd. Evercore ISI cut shares of Consolidated Edison from a "strong-buy" rating to a "hold" rating in a report on Tuesday, January 21st. Scotiabank boosted their price objective on shares of Consolidated Edison from $100.00 to $101.00 and gave the company a "sector perform" rating in a report on Monday, February 24th. Finally, UBS Group raised their target price on Consolidated Edison from $110.00 to $113.00 and gave the stock a "neutral" rating in a research note on Friday, March 21st. One research analyst has rated the stock with a sell rating, seven have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $103.60.

Consolidated Edison Trading Up 0.3 %

NYSE ED traded up $0.38 on Monday, reaching $110.83. 774,271 shares of the company were exchanged, compared to its average volume of 2,199,664. Consolidated Edison, Inc. has a fifty-two week low of $87.28 and a fifty-two week high of $114.87. The stock has a market capitalization of $39.92 billion, a P/E ratio of 21.12, a price-to-earnings-growth ratio of 3.05 and a beta of 0.27. The business's fifty day moving average price is $106.42 and its 200 day moving average price is $99.51. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.07.

Consolidated Edison (NYSE:ED - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The utilities provider reported $0.98 earnings per share for the quarter, topping analysts' consensus estimates of $0.97 by $0.01. The firm had revenue of $3.67 billion during the quarter, compared to analysts' expectations of $3.63 billion. Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. Analysts forecast that Consolidated Edison, Inc. will post 5.62 earnings per share for the current year.

Consolidated Edison Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Wednesday, May 14th will be issued a $0.85 dividend. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.07%. Consolidated Edison's payout ratio is 64.89%.

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.