CANADA LIFE ASSURANCE Co Has $70.62 Million Position in Consolidated Edison, Inc. (NYSE:ED)

CANADA LIFE ASSURANCE Co lowered its holdings in Consolidated Edison, Inc. (NYSE:ED) by 3.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 777,015 shares of the utilities provider’s stock after selling 30,536 shares during the quarter. CANADA LIFE ASSURANCE Co owned about 0.22% of Consolidated Edison worth $70,621,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. BKM Wealth Management LLC bought a new stake in shares of Consolidated Edison in the 4th quarter worth $59,000. SG Americas Securities LLC boosted its stake in Consolidated Edison by 139.5% in the 4th quarter. SG Americas Securities LLC now owns 65,751 shares of the utilities provider’s stock worth $5,981,000 after purchasing an additional 38,292 shares during the period. Mutual Advisors LLC boosted its position in shares of Consolidated Edison by 4.3% during the 4th quarter. Mutual Advisors LLC now owns 4,737 shares of the utilities provider’s stock valued at $431,000 after acquiring an additional 195 shares during the last quarter. HB Wealth Management LLC boosted its position in shares of Consolidated Edison by 72.6% during the 4th quarter. HB Wealth Management LLC now owns 7,484 shares of the utilities provider’s stock valued at $681,000 after acquiring an additional 3,147 shares during the last quarter. Finally, Rosenberg Matthew Hamilton boosted its position in shares of Consolidated Edison by 10.6% during the 4th quarter. Rosenberg Matthew Hamilton now owns 1,898 shares of the utilities provider’s stock valued at $173,000 after acquiring an additional 182 shares during the last quarter. Institutional investors and hedge funds own 66.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Argus raised Consolidated Edison to a “strong-buy” rating in a research note on Friday, June 7th. Barclays downgraded Consolidated Edison from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $97.00 to $92.00 in a report on Monday. Scotiabank decreased their price target on Consolidated Edison from $91.00 to $85.00 and set a “sector underperform” rating for the company in a research note on Monday, April 22nd. Morgan Stanley decreased their price target on Consolidated Edison from $80.00 to $76.00 and set an “underweight” rating for the company in a research note on Monday, June 24th. Finally, Mizuho upped their price objective on Consolidated Edison from $93.00 to $95.00 and gave the company a “neutral” rating in a research report on Tuesday, May 28th. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Consolidated Edison currently has an average rating of “Hold” and an average target price of $89.04.

Consolidated Edison Trading Up 2.8 %

ED traded up $2.63 during trading on Wednesday, hitting $95.88. 2,179,845 shares of the stock were exchanged, compared to its average volume of 1,878,920. The firm has a 50 day simple moving average of $92.05 and a 200 day simple moving average of $91.16. The firm has a market cap of $33.16 billion, a price-to-earnings ratio of 18.40, a P/E/G ratio of 2.40 and a beta of 0.34. Consolidated Edison, Inc. has a 1 year low of $80.46 and a 1 year high of $98.85. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.92 and a current ratio of 0.99.

Consolidated Edison (NYSE:ED) last released its quarterly earnings data on Thursday, May 2nd. The utilities provider reported $2.15 EPS for the quarter, topping the consensus estimate of $1.89 by $0.26. The company had revenue of $4.28 billion for the quarter, compared to the consensus estimate of $4.40 billion. Consolidated Edison had a return on equity of 8.79% and a net margin of 12.43%. Consolidated Edison’s quarterly revenue was down 2.8% on a year-over-year basis. During the same period last year, the business posted $1.83 EPS. As a group, equities analysts expect that Consolidated Edison, Inc. will post 5.33 EPS for the current year.

Consolidated Edison Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Wednesday, August 14th will be paid a $0.83 dividend. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $3.32 annualized dividend and a dividend yield of 3.46%. Consolidated Edison’s dividend payout ratio (DPR) is 63.72%.

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.