Consolidated Edison, Inc. (ED) Holdings Cut by Forsta AP Fonden

Forsta AP Fonden lowered its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 1.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 80,898 shares of the utilities provider’s stock after selling 900 shares during the quarter. Forsta AP Fonden’s holdings in Consolidated Edison were worth $6,872,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in ED. FMR LLC boosted its position in Consolidated Edison by 5.5% during the second quarter. FMR LLC now owns 260,507 shares of the utilities provider’s stock worth $21,054,000 after purchasing an additional 13,651 shares during the period. Dimensional Fund Advisors LP boosted its position in Consolidated Edison by 0.8% during the second quarter. Dimensional Fund Advisors LP now owns 610,002 shares of the utilities provider’s stock worth $49,301,000 after purchasing an additional 5,108 shares during the period. Cubist Systematic Strategies LLC bought a new stake in Consolidated Edison during the second quarter worth approximately $708,000. Dynamic Technology Lab Private Ltd bought a new stake in Consolidated Edison during the second quarter worth approximately $606,000. Finally, Advisory Services Network LLC boosted its position in Consolidated Edison by 18.2% during the second quarter. Advisory Services Network LLC now owns 4,321 shares of the utilities provider’s stock worth $349,000 after purchasing an additional 664 shares during the period. 56.14% of the stock is owned by hedge funds and other institutional investors.

Shares of Consolidated Edison, Inc. (NYSE ED) opened at $75.89 on Thursday. Consolidated Edison, Inc. has a 12-month low of $72.63 and a 12-month high of $89.70. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.79 and a quick ratio of 0.70. The firm has a market capitalization of $23,884.60, a P/E ratio of 18.97, a PEG ratio of 9.02 and a beta of 0.03.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Wednesday, February 14th will be given a $0.715 dividend. This represents a $2.86 annualized dividend and a dividend yield of 3.77%. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.69. The ex-dividend date is Tuesday, February 13th. Consolidated Edison’s dividend payout ratio is currently 71.50%.

A number of brokerages have issued reports on ED. Morgan Stanley decreased their target price on Consolidated Edison from $80.00 to $74.00 and set an “underweight” rating for the company in a research report on Tuesday. UBS Group began coverage on Consolidated Edison in a research report on Friday, February 2nd. They set a “neutral” rating and a $80.00 target price for the company. Zacks Investment Research cut Consolidated Edison from a “buy” rating to a “hold” rating in a research report on Friday, January 19th. JPMorgan Chase & Co. began coverage on Consolidated Edison in a research report on Friday, January 12th. They set an “underweight” rating and a $78.00 target price for the company. Finally, Guggenheim reaffirmed a “hold” rating and set a $88.00 target price on shares of Consolidated Edison in a research report on Wednesday, January 3rd. Four analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target 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).

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

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