Consolidated Edison, Inc. (ED) Stake Decreased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lowered its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 61.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,424 shares of the utilities provider’s stock after selling 18,362 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Consolidated Edison were worth $971,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in ED. APG Asset Management N.V. grew its position in shares of Consolidated Edison by 28.4% during the fourth quarter. APG Asset Management N.V. now owns 5,209,155 shares of the utilities provider’s stock worth $368,519,000 after buying an additional 1,153,600 shares in the last quarter. BlackRock Inc. grew its position in shares of Consolidated Edison by 2.7% during the fourth quarter. BlackRock Inc. now owns 25,916,294 shares of the utilities provider’s stock worth $2,201,589,000 after buying an additional 680,592 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of Consolidated Edison by 40.7% during the fourth quarter. Renaissance Technologies LLC now owns 2,099,400 shares of the utilities provider’s stock worth $178,344,000 after buying an additional 607,000 shares in the last quarter. Teacher Retirement System of Texas grew its position in shares of Consolidated Edison by 1,929.5% during the fourth quarter. Teacher Retirement System of Texas now owns 237,872 shares of the utilities provider’s stock worth $20,207,000 after buying an additional 226,151 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. grew its position in shares of Consolidated Edison by 53.9% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 640,734 shares of the utilities provider’s stock worth $54,431,000 after buying an additional 224,421 shares in the last quarter. 56.69% of the stock is owned by institutional investors and hedge funds.

ED stock opened at $76.31 on Friday. The company has a current ratio of 0.72, a quick ratio of 0.65 and a debt-to-equity ratio of 0.96. The firm has a market capitalization of $24,086.81, a price-to-earnings ratio of 18.66, a P/E/G ratio of 4.55 and a beta of 0.05. Consolidated Edison, Inc. has a 1 year low of $73.73 and a 1 year high of $89.70.



Consolidated Edison (NYSE:ED) last posted its earnings results on Thursday, February 15th. The utilities provider reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.02. The company had revenue of $2.96 billion for the quarter, compared to analysts’ expectations of $2.64 billion. Consolidated Edison had a return on equity of 8.51% and a net margin of 12.67%. The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period last year, the business posted $0.69 earnings per share. analysts predict that Consolidated Edison, Inc. will post 4.27 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, March 15th. Shareholders of record on Wednesday, February 14th were paid a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a yield of 3.75%. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.69. The ex-dividend date was Tuesday, February 13th. Consolidated Edison’s dividend payout ratio (DPR) is presently 69.93%.

A number of equities analysts have commented on the stock. ValuEngine raised shares of Consolidated Edison from a “hold” rating to a “buy” rating in a report on Wednesday, March 28th. Zacks Investment Research downgraded shares of Consolidated Edison from a “buy” rating to a “hold” rating in a report on Thursday, January 4th. JPMorgan Chase assumed coverage on shares of Consolidated Edison in a report on Friday, January 12th. They issued an “underweight” rating and a $78.00 price objective for the company. UBS assumed coverage on shares of Consolidated Edison in a report on Friday, February 2nd. They issued a “neutral” rating and a $80.00 price objective for the company. Finally, Morgan Stanley decreased their price objective on shares of Consolidated Edison from $80.00 to $74.00 and set an “underweight” rating for the company in a report on Tuesday, February 13th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $81.32.

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Consolidated Edison Company Profile

Consolidated Edison, Inc (Con Edison) is a holding company. The Company operates through its subsidiaries, which include Consolidated Edison Company of New York, Inc (CECONY), Orange and Rockland Utilities, Inc (O&R), Con Edison Clean Energy Businesses, Inc (the Clean Energy Businesses) and Con Edison Transmission, Inc (Con Edison Transmission).

Institutional Ownership by Quarter for Consolidated Edison (NYSE:ED)

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