The Manufacturers Life Insurance Company Acquires 26,423 Shares of Consolidated Edison, Inc. (NYSE:ED)

The Manufacturers Life Insurance Company raised its holdings in Consolidated Edison, Inc. (NYSE:ED) by 7.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 366,396 shares of the utilities provider’s stock after purchasing an additional 26,423 shares during the quarter. The Manufacturers Life Insurance Company owned 0.11% of Consolidated Edison worth $28,506,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the business. CI Investments Inc. grew its stake in Consolidated Edison by 1.5% in the 3rd quarter. CI Investments Inc. now owns 15,761 shares of the utilities provider’s stock valued at $1,226,000 after purchasing an additional 228 shares during the period. HawsGoodwin Investment Management LLC lifted its position in shares of Consolidated Edison by 1.1% during the 3rd quarter. HawsGoodwin Investment Management LLC now owns 12,476 shares of the utilities provider’s stock valued at $971,000 after buying an additional 131 shares during the last quarter. OPSEU Pension Plan Trust Fund lifted its position in shares of Consolidated Edison by 1.0% during the 3rd quarter. OPSEU Pension Plan Trust Fund now owns 14,403 shares of the utilities provider’s stock valued at $1,132,000 after buying an additional 137 shares during the last quarter. National Asset Management Inc. lifted its position in shares of Consolidated Edison by 0.9% during the 3rd quarter. National Asset Management Inc. now owns 16,268 shares of the utilities provider’s stock valued at $1,257,000 after buying an additional 142 shares during the last quarter. Finally, Integrated Advisors Network LLC lifted its position in shares of Consolidated Edison by 9.5% during the 3rd quarter. Integrated Advisors Network LLC now owns 16,864 shares of the utilities provider’s stock valued at $1,312,000 after buying an additional 1,470 shares during the last quarter. Hedge funds and other institutional investors own 56.36% of the company’s stock.

ED has been the topic of a number of recent research reports. Guggenheim raised Consolidated Edison from a “sell” rating to a “neutral” rating and set a $73.00 price target on the stock in a research report on Monday, September 14th. Bank of America lowered Consolidated Edison from a “buy” rating to a “neutral” rating and set a $82.00 price objective on the stock. in a research report on Thursday, October 15th. Barclays increased their price objective on Consolidated Edison from $74.00 to $83.00 and gave the company an “underweight” rating in a research report on Wednesday. Credit Suisse Group raised their price target on Consolidated Edison from $78.00 to $81.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 4th. Finally, Mizuho raised their price target on Consolidated Edison from $72.00 to $83.00 and gave the stock a “neutral” rating in a research report on Thursday, November 12th. They noted that the move was a valuation call. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $80.11.

Shares of ED stock opened at $77.39 on Friday. The firm has a market cap of $25.91 billion, a P/E ratio of 19.16, a P/E/G ratio of 9.79 and a beta of 0.16. Consolidated Edison, Inc. has a fifty-two week low of $62.03 and a fifty-two week high of $95.10. The business’s 50 day moving average price is $80.64 and its 200-day moving average price is $75.34. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.54 and a current ratio of 0.59.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings data on Thursday, November 5th. The utilities provider reported $1.48 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.51 by ($0.03). Consolidated Edison had a return on equity of 7.77% and a net margin of 11.06%. During the same period in the prior year, the business earned $1.54 earnings per share. As a group, equities analysts predict that Consolidated Edison, Inc. will post 4.22 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Wednesday, November 18th will be given a $0.765 dividend. The ex-dividend date is Tuesday, November 17th. This represents a $3.06 dividend on an annualized basis and a dividend yield of 3.95%. Consolidated Edison’s dividend payout ratio is currently 70.02%.

Consolidated Edison Company Profile

Consolidated Edison, Inc, through its subsidiaries, engages in regulated electric, gas, and steam delivery businesses in the United States. The company offers electric services to approximately 3.5 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 1,589 customers in parts of Manhattan.

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

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