Consolidated Edison, Inc. (NYSE:ED) Stock Holdings Lessened by BNP PARIBAS ASSET MANAGEMENT Holding S.A.

BNP PARIBAS ASSET MANAGEMENT Holding S.A. reduced its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 59.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 156,762 shares of the utilities provider’s stock after selling 225,568 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Consolidated Edison were worth $16,324,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. King Luther Capital Management Corp raised its holdings in shares of Consolidated Edison by 42.3% during the third quarter. King Luther Capital Management Corp now owns 3,731 shares of the utilities provider’s stock worth $389,000 after acquiring an additional 1,109 shares in the last quarter. Darwin Wealth Management LLC acquired a new position in Consolidated Edison in the 3rd quarter worth about $71,000. Commerce Bank lifted its holdings in shares of Consolidated Edison by 1.6% during the 3rd quarter. Commerce Bank now owns 38,669 shares of the utilities provider’s stock valued at $4,027,000 after buying an additional 615 shares during the last quarter. Prospera Private Wealth LLC bought a new stake in shares of Consolidated Edison in the 3rd quarter valued at approximately $70,000. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Consolidated Edison in the 3rd quarter valued at approximately $2,462,000. 66.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ED has been the subject of a number of analyst reports. UBS Group lifted their target price on shares of Consolidated Edison from $105.00 to $106.00 and gave the company a “neutral” rating in a research note on Friday, September 20th. Evercore ISI raised shares of Consolidated Edison from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 8th. Citigroup raised shares of Consolidated Edison from a “neutral” rating to a “buy” rating and increased their target price for the stock from $103.00 to $116.00 in a research report on Tuesday, October 15th. Scotiabank raised their target price on Consolidated Edison from $85.00 to $90.00 and gave the company a “sector underperform” rating in a report on Tuesday, August 20th. Finally, Wells Fargo & Company boosted their price target on Consolidated Edison from $97.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. Four research analysts have rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $98.19.

Consolidated Edison Trading Down 0.3 %

Shares of Consolidated Edison stock opened at $98.36 on Friday. Consolidated Edison, Inc. has a 1 year low of $85.85 and a 1 year high of $107.75. The company’s fifty day simple moving average is $102.01 and its 200-day simple moving average is $98.08. The company has a market cap of $34.07 billion, a price-to-earnings ratio of 18.52, a PEG ratio of 3.32 and a beta of 0.36. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.07.

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

Consolidated Edison Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Wednesday, November 13th will be given a $0.83 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.38%. Consolidated Edison’s dividend payout ratio is currently 62.52%.

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.