Thrivent Financial for Lutherans Has $3.66 Million Position in Consolidated Edison, Inc. (NYSE:ED)

Thrivent Financial for Lutherans raised its holdings in shares of Consolidated Edison, Inc. (NYSE:ED) by 11.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,104 shares of the utilities provider’s stock after purchasing an additional 3,716 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Consolidated Edison were worth $3,655,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Hsbc Holdings PLC grew its position in shares of Consolidated Edison by 0.8% in the second quarter. Hsbc Holdings PLC now owns 1,502,523 shares of the utilities provider’s stock valued at $134,323,000 after purchasing an additional 11,785 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Consolidated Edison by 11.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,273,115 shares of the utilities provider’s stock valued at $113,845,000 after buying an additional 125,859 shares in the last quarter. Clean Energy Transition LLP grew its holdings in Consolidated Edison by 227.9% in the 2nd quarter. Clean Energy Transition LLP now owns 897,553 shares of the utilities provider’s stock valued at $80,259,000 after buying an additional 623,787 shares in the last quarter. AQR Capital Management LLC increased its position in Consolidated Edison by 5.5% during the 2nd quarter. AQR Capital Management LLC now owns 709,713 shares of the utilities provider’s stock worth $63,413,000 after buying an additional 36,991 shares during the period. Finally, Acadian Asset Management LLC lifted its holdings in shares of Consolidated Edison by 302.3% during the second quarter. Acadian Asset Management LLC now owns 709,172 shares of the utilities provider’s stock worth $63,396,000 after buying an additional 532,893 shares in the last quarter. 66.29% of the stock is owned by institutional investors.

Consolidated Edison Trading Up 1.1 %

NYSE ED opened at $99.46 on Tuesday. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07. Consolidated Edison, Inc. has a 52 week low of $85.85 and a 52 week high of $107.75. The business has a 50 day moving average price of $101.91 and a 200-day moving average price of $98.10. The company has a market cap of $34.45 billion, a price-to-earnings ratio of 18.73, a P/E/G ratio of 3.31 and a beta of 0.36.

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

Consolidated Edison Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Wednesday, November 13th will be issued a $0.83 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.34%. Consolidated Edison’s dividend payout ratio is presently 62.52%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Barclays decreased their price target on shares of Consolidated Edison from $104.00 to $99.00 and set an “underweight” rating on the stock in a research note on Friday, November 8th. Citigroup upgraded shares of Consolidated Edison from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $103.00 to $116.00 in a research note on Tuesday, October 15th. Guggenheim lifted their price target on Consolidated Edison from $88.00 to $91.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Wells Fargo & Company raised their price target on shares of Consolidated Edison from $97.00 to $105.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. Finally, Evercore ISI upgraded shares of Consolidated Edison from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 8th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Consolidated Edison presently has an average rating of “Hold” and an average price target of $98.19.

Consolidated Edison 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.