National Bank of Canada FI Decreases Stock Holdings in Consolidated Edison, Inc. (NYSE:ED)

National Bank of Canada FI lessened its holdings in Consolidated Edison, Inc. (NYSE:ED) by 40.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 372,136 shares of the utilities provider’s stock after selling 248,569 shares during the period. National Bank of Canada FI owned about 0.11% of Consolidated Edison worth $33,212,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in ED. Vanguard Group Inc. grew its position in Consolidated Edison by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 42,455,662 shares of the utilities provider’s stock valued at $3,788,319,000 after acquiring an additional 488,752 shares in the last quarter. State Street Corp boosted its stake in shares of Consolidated Edison by 1.7% in the third quarter. State Street Corp now owns 23,429,218 shares of the utilities provider’s stock valued at $2,439,684,000 after purchasing an additional 399,034 shares during the period. Geode Capital Management LLC grew its holdings in Consolidated Edison by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 8,853,788 shares of the utilities provider’s stock valued at $919,041,000 after purchasing an additional 107,281 shares in the last quarter. Norges Bank purchased a new stake in Consolidated Edison during the 4th quarter worth $399,824,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Consolidated Edison by 3.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,225,989 shares of the utilities provider’s stock worth $198,625,000 after buying an additional 77,323 shares in the last quarter. Institutional investors and hedge funds own 66.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Morgan Stanley raised their target price on Consolidated Edison from $85.00 to $91.00 and gave the company an “underweight” rating in a research note on Thursday, March 20th. Evercore ISI downgraded Consolidated Edison from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 21st. Mizuho increased their target price on Consolidated Edison from $92.00 to $95.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. UBS Group lifted their price target on shares of Consolidated Edison from $110.00 to $113.00 and gave the stock a “neutral” rating in a research note on Friday, March 21st. Finally, Scotiabank upped their price target on shares of Consolidated Edison from $100.00 to $101.00 and gave the company a “sector perform” rating in a report on Monday, February 24th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $102.40.

Consolidated Edison Stock Performance

Consolidated Edison stock opened at $109.58 on Thursday. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93. Consolidated Edison, Inc. has a 12 month low of $87.28 and a 12 month high of $111.11. The company has a fifty day moving average price of $100.62 and a two-hundred day moving average price of $98.64. The company has a market cap of $38.00 billion, a PE ratio of 20.91, a P/E/G ratio of 3.05 and a beta of 0.30.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings results on Thursday, February 20th. The utilities provider reported $0.98 EPS for the quarter, beating the consensus estimate of $0.97 by $0.01. The business had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.63 billion. Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. Research analysts expect that Consolidated Edison, Inc. will post 5.62 earnings per share for the current year.

Consolidated Edison Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Wednesday, February 19th were issued a $0.85 dividend. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.83. The ex-dividend date was Wednesday, February 19th. This represents a $3.40 annualized dividend and a dividend yield of 3.10%. Consolidated Edison’s dividend payout ratio (DPR) is 64.89%.

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.