Board of the Pension Protection Fund Purchases Shares of 2,700 Consolidated Edison, Inc. (NYSE:ED)

Board of the Pension Protection Fund acquired a new position in Consolidated Edison, Inc. (NYSE:ED) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 2,700 shares of the utilities provider’s stock, valued at approximately $241,000.

Other large investors have also recently made changes to their positions in the company. Capital Performance Advisors LLP purchased a new stake in Consolidated Edison in the third quarter worth $27,000. Ashton Thomas Securities LLC bought a new position in Consolidated Edison in the 3rd quarter worth $30,000. Future Financial Wealth Managment LLC purchased a new stake in shares of Consolidated Edison in the 3rd quarter worth about $55,000. FSA Wealth Management LLC bought a new stake in shares of Consolidated Edison during the 3rd quarter valued at about $55,000. Finally, Webster Bank N. A. increased its position in shares of Consolidated Edison by 189.5% during the third quarter. Webster Bank N. A. now owns 579 shares of the utilities provider’s stock valued at $60,000 after buying an additional 379 shares during the period. 66.29% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have commented on ED shares. Citigroup upgraded shares of Consolidated Edison from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $103.00 to $116.00 in a report on Tuesday, October 15th. Morgan Stanley lowered their target price on Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating for the company in a research note on Friday, November 22nd. Jefferies Financial Group assumed coverage on Consolidated Edison in a research note on Wednesday, October 9th. They issued a “hold” rating and a $108.00 price target on the stock. Barclays lowered their price objective on Consolidated Edison from $104.00 to $99.00 and set an “underweight” rating for the company in a research report on Friday, November 8th. Finally, Evercore ISI raised shares of Consolidated Edison from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 8th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $100.64.

Consolidated Edison Stock Performance

Shares of ED stock opened at $90.22 on Thursday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01. The company has a market capitalization of $31.25 billion, a price-to-earnings ratio of 16.99, a price-to-earnings-growth ratio of 3.11 and a beta of 0.38. Consolidated Edison, Inc. has a one year low of $85.85 and a one year high of $107.75. The company’s 50-day moving average is $93.72 and its 200 day moving average is $97.90.

Consolidated Edison (NYSE:ED) last announced 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 company had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $4.02 billion. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.70%. Sell-side analysts expect that Consolidated Edison, Inc. will post 5.34 EPS for the current fiscal year.

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.