OneDigital Investment Advisors LLC Boosts Stock Position in Consolidated Edison, Inc. (NYSE:ED)

OneDigital Investment Advisors LLC grew its position in Consolidated Edison, Inc. (NYSE:ED) by 5.1% during the third quarter, Holdings Channel reports. The firm owned 15,988 shares of the utilities provider’s stock after acquiring an additional 770 shares during the period. OneDigital Investment Advisors LLC’s holdings in Consolidated Edison were worth $1,665,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently modified their holdings of ED. Clean Energy Transition LLP increased its holdings in Consolidated Edison by 227.9% in the 2nd quarter. Clean Energy Transition LLP now owns 897,553 shares of the utilities provider’s stock worth $80,259,000 after buying an additional 623,787 shares during the period. International Assets Investment Management LLC boosted its holdings in shares of Consolidated Edison by 10,262.1% in the 3rd quarter. International Assets Investment Management LLC now owns 553,546 shares of the utilities provider’s stock valued at $57,641,000 after acquiring an additional 548,204 shares during the last quarter. Acadian Asset Management LLC increased its stake in shares of Consolidated Edison by 302.3% in the second quarter. Acadian Asset Management LLC now owns 709,172 shares of the utilities provider’s stock worth $63,396,000 after acquiring an additional 532,893 shares during the period. Assenagon Asset Management S.A. raised its holdings in shares of Consolidated Edison by 4,020.5% during the third quarter. Assenagon Asset Management S.A. now owns 406,859 shares of the utilities provider’s stock worth $42,366,000 after purchasing an additional 396,985 shares during the last quarter. Finally, AMF Tjanstepension AB lifted its position in Consolidated Edison by 243.2% during the second quarter. AMF Tjanstepension AB now owns 497,982 shares of the utilities provider’s stock valued at $44,564,000 after purchasing an additional 352,903 shares during the period. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on ED shares. Scotiabank increased their price target on Consolidated Edison from $85.00 to $90.00 and gave the stock a “sector underperform” rating in a research report on Tuesday, August 20th. Evercore ISI raised Consolidated Edison from a “hold” rating to a “strong-buy” rating in a report on Friday, November 8th. Wells Fargo & Company boosted their price target on Consolidated Edison from $97.00 to $105.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. Barclays dropped their price objective on shares of Consolidated Edison from $104.00 to $99.00 and set an “underweight” rating on the stock in a research note on Friday, November 8th. Finally, UBS Group boosted 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. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Consolidated Edison currently has a consensus rating of “Hold” and an average price target of $98.35.

Consolidated Edison Trading Up 1.3 %

ED stock opened at $96.44 on Monday. Consolidated Edison, Inc. has a 12-month low of $85.85 and a 12-month high of $107.75. The business’s 50-day moving average is $102.68 and its 200 day moving average is $98.04. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.07. The stock has a market cap of $33.41 billion, a price-to-earnings ratio of 18.16, a PEG ratio of 3.24 and a beta of 0.36.

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

Consolidated Edison Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Wednesday, November 13th will be given a dividend of $0.83 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $3.32 dividend on an annualized basis and a yield of 3.44%. Consolidated Edison’s payout ratio is presently 62.52%.

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.