Forsta AP Fonden Grows Stock Holdings in Consolidated Edison, Inc. (NYSE:ED)

Forsta AP Fonden lifted its position in shares of Consolidated Edison, Inc. (NYSE:ED – Get Rating) by 21.9% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 158,900 shares of the utilities provider’s stock after buying an additional 28,600 shares during the quarter. Forsta AP Fonden’s holdings in Consolidated Edison were worth $15,045,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. DB Fitzpatrick & Co Inc bought a new stake in shares of Consolidated Edison in the 4th quarter worth about $25,000. Godsey & Gibb Associates bought a new stake in shares of Consolidated Edison in the 4th quarter worth about $26,000. Shore Point Advisors LLC bought a new stake in shares of Consolidated Edison in the 4th quarter worth about $26,000. Tyler Stone Wealth Management bought a new stake in shares of Consolidated Edison in the 4th quarter worth about $26,000. Finally, Rise Advisors LLC bought a new stake in shares of Consolidated Edison in the 4th quarter worth about $30,000. Hedge funds and other institutional investors own 65.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ED. Wells Fargo & Company downgraded shares of Consolidated Edison from an “equal weight” rating to a “sell” rating and upped their price target for the company from $85.00 to $94.00 in a report on Tuesday, May 3rd. StockNews.com downgraded shares of Consolidated Edison from a “buy” rating to a “hold” rating in a report on Tuesday, May 3rd. Credit Suisse Group started coverage on shares of Consolidated Edison in a report on Monday, April 25th. They set a “neutral” rating and a $100.00 price target on the stock. Guggenheim raised shares of Consolidated Edison from a “sell” rating to a “neutral” rating and set a $94.00 price objective for the company in a research report on Monday, May 23rd. Finally, KeyCorp upped their price target on shares of Consolidated Edison from $72.00 to $75.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 19th. Five equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $85.91.

Consolidated Edison Trading Down 0.2 %

Shares of Consolidated Edison stock opened at $97.19 on Friday. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.10. Consolidated Edison, Inc. has a 12-month low of $71.52 and a 12-month high of $101.12. The firm has a market capitalization of $34.43 billion, a price-to-earnings ratio of 21.27, a PEG ratio of 10.86 and a beta of 0.25. The firm’s 50 day simple moving average is $94.11 and its two-hundred day simple moving average is $92.02.

Consolidated Edison (NYSE:ED – Get Rating) last issued its quarterly earnings results on Thursday, August 4th. The utilities provider reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.09. Consolidated Edison had a net margin of 11.16% and a return on equity of 7.85%. During the same quarter last year, the business posted $0.53 EPS. Analysts predict that Consolidated Edison, Inc. will post 4.49 EPS for the current year.

Consolidated Edison Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Wednesday, August 17th will be paid a $0.79 dividend. The ex-dividend date is Tuesday, August 16th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 3.25%. Consolidated Edison’s payout ratio is currently 69.15%.

About Consolidated Edison

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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 3.5 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 1,555 customers in parts of Manhattan.