Bank of New York Mellon Corp Has $241.88 Million Stock Holdings in Consolidated Edison Inc $ED

Bank of New York Mellon Corp decreased its position in shares of Consolidated Edison Inc (NYSE:ED) by 2.8% during the 1st quarter, Holdings Channel reports. The institutional investor owned 2,137,151 shares of the utilities provider’s stock after selling 60,988 shares during the quarter. Bank of New York Mellon Corp’s holdings in Consolidated Edison were worth $241,883,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently modified their holdings of ED. QRG Capital Management Inc. increased its holdings in Consolidated Edison by 16.9% in the 1st quarter. QRG Capital Management Inc. now owns 204,989 shares of the utilities provider’s stock worth $23,201,000 after purchasing an additional 29,635 shares in the last quarter. IFP Advisors Inc grew its holdings in shares of Consolidated Edison by 194.5% during the third quarter. IFP Advisors Inc now owns 15,208 shares of the utilities provider’s stock worth $1,559,000 after purchasing an additional 10,044 shares during the last quarter. North Dakota State Investment Board acquired a new position in shares of Consolidated Edison in the fourth quarter valued at approximately $1,228,000. Los Angeles Capital Management LLC increased its stake in shares of Consolidated Edison by 9.0% in the fourth quarter. Los Angeles Capital Management LLC now owns 253,230 shares of the utilities provider’s stock valued at $24,865,000 after buying an additional 20,972 shares during the period. Finally, AIA Group Ltd raised its holdings in Consolidated Edison by 99.5% in the 3rd quarter. AIA Group Ltd now owns 46,786 shares of the utilities provider’s stock valued at $4,703,000 after buying an additional 23,337 shares during the last quarter. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Stock Up 0.0%

Consolidated Edison stock opened at $112.40 on Friday. The firm has a 50 day moving average price of $108.49 and a 200-day moving average price of $108.59. The company has a quick ratio of 1.09, a current ratio of 1.19 and a debt-to-equity ratio of 1.00. Consolidated Edison Inc has a twelve month low of $94.96 and a twelve month high of $116.23. The company has a market capitalization of $41.42 billion, a P/E ratio of 18.92, a P/E/G ratio of 2.86 and a beta of 0.27.

Consolidated Edison Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Wednesday, August 19th will be given a dividend of $0.8875 per share. The ex-dividend date is Wednesday, August 19th. This represents a $3.55 dividend on an annualized basis and a yield of 3.2%. Consolidated Edison’s dividend payout ratio (DPR) is presently 59.76%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on ED shares. Argus set a $112.00 price objective on Consolidated Edison in a report on Tuesday, June 23rd. Weiss Ratings raised shares of Consolidated Edison from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, April 24th. Mizuho reissued a “neutral” rating and issued a $105.00 price objective on shares of Consolidated Edison in a research report on Tuesday, June 2nd. Evercore set a $116.00 target price on Consolidated Edison in a research report on Monday, May 11th. Finally, KeyCorp lifted their target price on Consolidated Edison from $96.00 to $97.00 and gave the stock an “underweight” rating in a report on Tuesday, April 21st. Two research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and six have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average target price of $108.07.

Consolidated Edison Company Profile

Consolidated Edison, Inc, commonly known as Con Edison, is an investor-owned energy company that primarily delivers electricity, natural gas and steam to customers in the New York metropolitan area. Its regulated utility operations include the distribution and transmission of electric power, the distribution of natural gas, and the operation of one of the largest district steam systems in the United States, serving commercial, institutional and residential customers in New York City and nearby counties.

The company operates through regulated utility subsidiaries that serve urban and suburban service territories, together with non-utility businesses that develop, own and manage energy infrastructure and clean energy projects.