Consolidated Edison, Inc. (NYSE:ED) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. grew its position in shares of Consolidated Edison, Inc. (NYSE:ED) by 3.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 441,742 shares of the utilities provider’s stock after purchasing an additional 16,357 shares during the period. Principal Financial Group Inc. owned 0.13% of Consolidated Edison worth $32,066,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Emfo LLC boosted its position in shares of Consolidated Edison by 217.4% in the third quarter. Emfo LLC now owns 365 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 250 shares during the last quarter. JFS Wealth Advisors LLC acquired a new position in Consolidated Edison during the third quarter valued at approximately $29,000. Creative Financial Designs Inc. ADV lifted its position in Consolidated Edison by 141.5% during the third quarter. Creative Financial Designs Inc. ADV now owns 466 shares of the utilities provider’s stock valued at $34,000 after buying an additional 273 shares in the last quarter. Isthmus Partners LLC acquired a new position in Consolidated Edison during the second quarter valued at approximately $36,000. Finally, Elmwood Wealth Management Inc. lifted its position in Consolidated Edison by 108.9% during the second quarter. Elmwood Wealth Management Inc. now owns 585 shares of the utilities provider’s stock valued at $42,000 after buying an additional 305 shares in the last quarter. 61.61% of the stock is currently owned by institutional investors.

A number of research firms have recently issued reports on ED. KeyCorp lifted their price objective on shares of Consolidated Edison from $65.00 to $71.00 and gave the company an “underweight” rating in a research note on Thursday. Morgan Stanley lifted their price target on shares of Consolidated Edison from $72.00 to $76.00 and gave the stock an “underweight” rating in a research note on Tuesday, December 21st. Royal Bank of Canada lifted their price target on shares of Consolidated Edison from $78.00 to $85.00 and gave the stock a “sector perform” rating in a research note on Wednesday, December 22nd. Bank of America lowered shares of Consolidated Edison from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $74.00 to $68.00 in a research note on Monday, October 18th. Finally, TheStreet upgraded shares of Consolidated Edison from a “c+” rating to a “b-” rating in a research note on Wednesday, October 20th. Six research analysts have rated the stock with a sell rating and three have given a hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Sell” and a consensus target price of $76.00.

In related news, VP Yukari Saegusa sold 1,451 shares of the company’s stock in a transaction on Friday, December 3rd. The stock was sold at an average price of $80.45, for a total value of $116,732.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last quarter, insiders have bought 138 shares of company stock valued at $10,413. Corporate insiders own 0.17% of the company’s stock.

NYSE ED opened at $83.52 on Friday. The stock’s 50-day moving average price is $81.66 and its two-hundred day moving average price is $77.14. The company has a current ratio of 0.97, a quick ratio of 0.89 and a debt-to-equity ratio of 1.07. The company has a market cap of $29.51 billion, a PE ratio of 24.93, a PEG ratio of 9.34 and a beta of 0.22. Consolidated Edison, Inc. has a 1 year low of $65.56 and a 1 year high of $86.25.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings data on Thursday, November 4th. The utilities provider reported $1.41 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.45 by ($0.04). The company had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.46 billion. Consolidated Edison had a return on equity of 7.24% and a net margin of 8.81%. During the same quarter in the previous year, the firm posted $1.48 EPS. Research analysts forecast that Consolidated Edison, Inc. will post 4.22 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 15th. Investors of record on Wednesday, November 17th were paid a $0.775 dividend. The ex-dividend date was Tuesday, November 16th. This represents a $3.10 annualized dividend and a dividend yield of 3.71%. Consolidated Edison’s payout ratio is 92.54%.

About Consolidated Edison

Consolidated Edison, Inc operates as holding company, which through its subsidiaries engages in the business of regulated electric, gas, and steam delivery. It operates through the following segments: Consolidated Edison Company of New York, Inc (CECONY), Orange and Rockland Utilities, Inc (O&R), Con Edison Clean Energy Businesses, Inc and Con Edison Transmission, Inc.

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Institutional Ownership by Quarter for Consolidated Edison (NYSE:ED)

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