Consolidated Edison, Inc. (NYSE:ED) Stock Position Lifted by Pacer Advisors Inc.

Pacer Advisors Inc. grew its position in Consolidated Edison, Inc. (NYSE:ED) by 33.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 63,864 shares of the utilities provider’s stock after acquiring an additional 16,139 shares during the quarter. Pacer Advisors Inc.’s holdings in Consolidated Edison were worth $6,650,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Trustmark National Bank Trust Department raised its holdings in shares of Consolidated Edison by 193.2% during the third quarter. Trustmark National Bank Trust Department now owns 12,210 shares of the utilities provider’s stock worth $1,271,000 after purchasing an additional 8,046 shares during the period. King Luther Capital Management Corp lifted its holdings in Consolidated Edison by 42.3% in the third quarter. King Luther Capital Management Corp now owns 3,731 shares of the utilities provider’s stock worth $389,000 after acquiring an additional 1,109 shares during the last quarter. Darwin Wealth Management LLC bought a new position in Consolidated Edison in the third quarter worth about $71,000. Commerce Bank boosted its stake in Consolidated Edison by 1.6% in the third quarter. Commerce Bank now owns 38,669 shares of the utilities provider’s stock valued at $4,027,000 after acquiring an additional 615 shares during the period. Finally, Prospera Private Wealth LLC bought a new position in shares of Consolidated Edison during the third quarter valued at approximately $70,000. 66.29% of the stock is currently owned by institutional investors.

Consolidated Edison Price Performance

Shares of NYSE ED opened at $98.36 on Friday. Consolidated Edison, Inc. has a twelve month low of $85.85 and a twelve month high of $107.75. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.07. The firm has a 50-day moving average of $102.01 and a two-hundred day moving average of $98.08. The company has a market capitalization of $34.07 billion, a price-to-earnings ratio of 18.52, a PEG ratio of 3.32 and a beta of 0.36.

Consolidated Edison (NYSE:ED) last issued its earnings results on Thursday, November 7th. The utilities provider reported $1.68 earnings per share for the quarter, topping analysts’ consensus estimates of $1.56 by $0.12. The firm had revenue of $4.09 billion during the quarter, compared to analysts’ expectations of $4.02 billion. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.70%. As a group, analysts expect that Consolidated Edison, Inc. will post 5.33 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Wednesday, November 13th will be issued a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 3.38%. The ex-dividend date is Wednesday, November 13th. Consolidated Edison’s dividend payout ratio is 62.52%.

Analysts Set New Price Targets

A number of research firms recently issued reports on ED. Evercore ISI upgraded Consolidated Edison from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 8th. Morgan Stanley reduced their price target on shares of Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating for the company in a report on Friday. Jefferies Financial Group initiated coverage on shares of Consolidated Edison in a research report on Wednesday, October 9th. They issued a “hold” rating and a $108.00 price objective on the stock. Guggenheim upped their target price on shares of Consolidated Edison from $88.00 to $91.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Finally, Bank of America lifted their price target on Consolidated Edison from $97.00 to $109.00 and gave the company a “buy” rating in a report on Monday, August 5th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Consolidated Edison presently has a consensus rating of “Hold” and a consensus price target of $98.19.

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.