Daiwa Securities Group Inc. Boosts Stock Holdings in Consolidated Edison, Inc. (NYSE:ED)

Daiwa Securities Group Inc. increased its position in shares of Consolidated Edison, Inc. (NYSE:ED) by 7.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 42,857 shares of the utilities provider’s stock after buying an additional 3,096 shares during the period. Daiwa Securities Group Inc.’s holdings in Consolidated Edison were worth $4,462,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ED. Pathway Financial Advisers LLC boosted its stake in shares of Consolidated Edison by 10,302.6% during the 3rd quarter. Pathway Financial Advisers LLC now owns 24,446 shares of the utilities provider’s stock worth $2,546,000 after acquiring an additional 24,211 shares in the last quarter. Plato Investment Management Ltd boosted its position in Consolidated Edison by 17,683.9% during the first quarter. Plato Investment Management Ltd now owns 9,959 shares of the utilities provider’s stock worth $904,000 after purchasing an additional 9,903 shares in the last quarter. Cetera Advisors LLC grew its holdings in Consolidated Edison by 74.5% in the first quarter. Cetera Advisors LLC now owns 17,150 shares of the utilities provider’s stock valued at $1,557,000 after purchasing an additional 7,324 shares during the period. Czech National Bank increased its position in shares of Consolidated Edison by 8.5% in the second quarter. Czech National Bank now owns 65,902 shares of the utilities provider’s stock valued at $5,893,000 after buying an additional 5,161 shares in the last quarter. Finally, National Pension Service raised its stake in shares of Consolidated Edison by 7.0% during the 3rd quarter. National Pension Service now owns 468,572 shares of the utilities provider’s stock worth $48,792,000 after buying an additional 30,838 shares during the period. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Trading Up 2.3 %

Shares of ED stock opened at $101.72 on Wednesday. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.07. Consolidated Edison, Inc. has a twelve month low of $85.85 and a twelve month high of $107.75. The company’s 50-day moving average price is $101.85 and its 200-day moving average price is $98.13. The stock has a market cap of $35.24 billion, a price-to-earnings ratio of 19.16, a PEG ratio of 3.31 and a beta of 0.36.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings results on Thursday, November 7th. The utilities provider reported $1.68 earnings per share for the quarter, beating the consensus estimate of $1.56 by $0.12. The business 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, equities analysts predict that Consolidated Edison, Inc. will post 5.33 earnings per share for the current year.

Consolidated Edison Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Wednesday, November 13th will be paid a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 3.26%. The ex-dividend date of this dividend is Wednesday, November 13th. Consolidated Edison’s dividend payout ratio (DPR) is presently 62.52%.

Analyst Ratings Changes

A number of research firms recently issued reports on ED. Morgan Stanley dropped their price target on shares of Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating on the stock in a research note on Friday, November 22nd. Guggenheim boosted their target price on shares of Consolidated Edison from $88.00 to $91.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Citigroup raised shares of Consolidated Edison from a “neutral” rating to a “buy” rating and raised their price target for the company from $103.00 to $116.00 in a research note on Tuesday, October 15th. Jefferies Financial Group initiated coverage on Consolidated Edison in a research note on Wednesday, October 9th. They set a “hold” rating and a $108.00 price objective for the company. Finally, Wells Fargo & Company raised their target price on Consolidated Edison from $97.00 to $105.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $98.19.

Consolidated Edison Company 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.