Healthcare of Ontario Pension Plan Trust Fund Buys 144,062 Shares of Consolidated Edison, Inc. (NYSE:ED)

Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in Consolidated Edison, Inc. (NYSE:ED) by 99.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 289,350 shares of the utilities provider’s stock after acquiring an additional 144,062 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned 0.08% of Consolidated Edison worth $30,130,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in ED. Pathway Financial Advisers LLC raised its position in Consolidated Edison by 10,302.6% in the 3rd quarter. Pathway Financial Advisers LLC now owns 24,446 shares of the utilities provider’s stock worth $2,546,000 after purchasing an additional 24,211 shares during the period. Plato Investment Management Ltd increased its position in shares of Consolidated Edison by 17,683.9% during the first quarter. Plato Investment Management Ltd now owns 9,959 shares of the utilities provider’s stock worth $904,000 after acquiring an additional 9,903 shares during the period. Cetera Advisors LLC increased its position in shares of Consolidated Edison by 74.5% during the first quarter. Cetera Advisors LLC now owns 17,150 shares of the utilities provider’s stock worth $1,557,000 after acquiring an additional 7,324 shares during the period. Czech National Bank increased its position in shares of Consolidated Edison by 8.5% during the second quarter. Czech National Bank now owns 65,902 shares of the utilities provider’s stock worth $5,893,000 after acquiring an additional 5,161 shares during the period. Finally, National Pension Service increased its position in shares of Consolidated Edison by 7.0% during the third quarter. National Pension Service now owns 468,572 shares of the utilities provider’s stock worth $48,792,000 after acquiring an additional 30,838 shares during the period. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Price Performance

Shares of ED opened at $101.58 on Thursday. The company has a market cap of $35.19 billion, a price-to-earnings ratio of 19.13, a price-to-earnings-growth ratio of 3.34 and a beta of 0.36. Consolidated Edison, Inc. has a twelve month low of $85.85 and a twelve month high of $107.75. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07. The company has a 50 day moving average of $101.81 and a two-hundred day moving average of $98.15.

Consolidated Edison (NYSE:ED) last announced its 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%. As a group, analysts predict that Consolidated Edison, Inc. will post 5.33 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Wednesday, November 13th will be paid a $0.83 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $3.32 annualized dividend and a yield of 3.27%. Consolidated Edison’s dividend payout ratio (DPR) is 62.52%.

Analyst Ratings Changes

A number of equities analysts have recently commented on ED shares. Morgan Stanley reduced their target price on shares of Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating on the stock in a research report on Friday, November 22nd. Evercore ISI raised shares of Consolidated Edison from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 8th. Barclays reduced their target price on shares of Consolidated Edison from $104.00 to $99.00 and set an “underweight” rating on the stock in a research report on Friday, November 8th. Wells Fargo & Company increased their price objective 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, Guggenheim increased their price objective on shares of Consolidated Edison from $88.00 to $91.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $98.19.

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.