Consolidated Edison, Inc. (NYSE:ED) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. cut its position in Consolidated Edison, Inc. (NYSE:ED - Free Report) by 2.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 461,841 shares of the utilities provider's stock after selling 10,139 shares during the quarter. Principal Financial Group Inc. owned about 0.13% of Consolidated Edison worth $42,014,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Newport Trust Company LLC bought a new position in shares of Consolidated Edison in the 3rd quarter worth $51,134,000. International Assets Investment Management LLC increased its holdings in shares of Consolidated Edison by 9,063.6% in the 4th quarter. International Assets Investment Management LLC now owns 519,028 shares of the utilities provider's stock worth $47,216,000 after buying an additional 513,364 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC bought a new position in shares of Consolidated Edison in the 3rd quarter worth $39,556,000. Northern Trust Corp grew its holdings in shares of Consolidated Edison by 8.2% during the 3rd quarter. Northern Trust Corp now owns 4,484,026 shares of the utilities provider's stock valued at $383,519,000 after purchasing an additional 340,239 shares during the last quarter. Finally, QRG Capital Management Inc. bought a new position in shares of Consolidated Edison during the 3rd quarter valued at $28,156,000. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

Consolidated Edison Trading Up 0.2 %

Consolidated Edison stock traded up $0.19 during trading hours on Friday, reaching $97.10. The stock had a trading volume of 1,565,920 shares, compared to its average volume of 1,893,239. The company has a fifty day simple moving average of $91.88 and a 200-day simple moving average of $90.71. Consolidated Edison, Inc. has a 52 week low of $80.46 and a 52 week high of $98.85. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.99 and a quick ratio of 0.92. The stock has a market cap of $33.58 billion, a PE ratio of 18.60, a PEG ratio of 9.12 and a beta of 0.34.

Consolidated Edison (NYSE:ED - Get Free Report) last posted its earnings results on Thursday, May 2nd. The utilities provider reported $2.15 EPS for the quarter, topping the consensus estimate of $1.89 by $0.26. Consolidated Edison had a net margin of 12.43% and a return on equity of 8.79%. The firm had revenue of $4.28 billion during the quarter, compared to analysts' expectations of $4.40 billion. During the same period last year, the company posted $1.83 EPS. The company's quarterly revenue was down 2.8% compared to the same quarter last year. Analysts forecast that Consolidated Edison, Inc. will post 5.31 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Wednesday, May 15th will be given a $0.83 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $3.32 annualized dividend and a dividend yield of 3.42%. Consolidated Edison's dividend payout ratio is 63.72%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on ED shares. UBS Group reduced their target price on shares of Consolidated Edison from $99.00 to $94.00 and set a "neutral" rating on the stock in a report on Friday, February 16th. Scotiabank reduced their target price on shares of Consolidated Edison from $91.00 to $85.00 and set a "sector underperform" rating on the stock in a report on Monday, April 22nd. Royal Bank of Canada reduced their target price on shares of Consolidated Edison from $94.00 to $93.00 and set a "sector perform" rating on the stock in a report on Friday, February 16th. Barclays increased their target price on shares of Consolidated Edison from $89.00 to $97.00 and gave the company an "equal weight" rating in a report on Tuesday, May 7th. Finally, Wells Fargo & Company increased their target price on shares of Consolidated Edison from $93.00 to $97.00 and gave the company an "equal weight" rating in a report on Friday, May 3rd. Four analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $88.46.

About Consolidated Edison

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.