OMERS ADMINISTRATION Corp Reduces Holdings in Consolidated Edison, Inc. (NYSE:ED)

OMERS ADMINISTRATION Corp lowered its holdings in Consolidated Edison, Inc. (NYSE:ED - Free Report) by 15.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,429 shares of the utilities provider's stock after selling 2,650 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in Consolidated Edison were worth $1,288,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. AlphaMark Advisors LLC bought a new position in shares of Consolidated Edison during the 4th quarter worth $27,000. Fairway Wealth LLC purchased a new stake in shares of Consolidated Edison in the 4th quarter valued at $36,000. OFI Invest Asset Management purchased a new stake in shares of Consolidated Edison during the 4th quarter worth approximately $35,000. Centricity Wealth Management LLC acquired a new stake in Consolidated Edison during the 4th quarter worth approximately $39,000. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of Consolidated Edison in the 4th quarter valued at approximately $44,000. Institutional investors own 66.29% of the company's stock.

Consolidated Edison Stock Performance

ED stock traded up $0.29 during mid-day trading on Tuesday, hitting $105.67. The company had a trading volume of 2,177,642 shares, compared to its average volume of 2,280,948. The firm has a market cap of $38.07 billion, a PE ratio of 20.17, a price-to-earnings-growth ratio of 3.05 and a beta of 0.29. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01. The stock's fifty day moving average price is $108.51 and its two-hundred day moving average price is $99.84. Consolidated Edison, Inc. has a 12 month low of $87.28 and a 12 month high of $114.87.

Consolidated Edison (NYSE:ED - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The utilities provider reported $2.25 EPS for the quarter, missing analysts' consensus estimates of $2.30 by ($0.05). Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. The firm had revenue of $4.80 billion for the quarter, compared to the consensus estimate of $4.21 billion. During the same quarter in the prior year, the company earned $2.15 earnings per share. On average, analysts forecast that Consolidated Edison, Inc. will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Wednesday, May 14th will be issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date is Wednesday, May 14th. Consolidated Edison's payout ratio is presently 62.85%.

Analysts Set New Price Targets

Several research firms recently commented on ED. Wells Fargo & Company boosted their price target on Consolidated Edison from $103.00 to $114.00 and gave the stock an "equal weight" rating in a research note on Friday, May 2nd. Citigroup upped their target price on shares of Consolidated Edison from $116.00 to $120.00 and gave the company a "buy" rating in a research note on Wednesday, April 9th. Barclays raised their price target on shares of Consolidated Edison from $100.00 to $101.00 and gave the company an "underweight" rating in a report on Monday, May 5th. KeyCorp cut shares of Consolidated Edison from a "sector weight" rating to an "underweight" rating and set a $90.00 price target on the stock. in a research report on Wednesday, May 14th. Finally, 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. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Consolidated Edison has a consensus rating of "Hold" and an average target price of $104.36.

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.