Consolidated Edison Inc $ED Shares Bought by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp grew its stake in shares of Consolidated Edison Inc (NYSE:ED) by 66.0% in the 1st quarter, Holdings Channel reports. The firm owned 23,956 shares of the utilities provider’s stock after acquiring an additional 9,527 shares during the quarter. OMERS ADMINISTRATION Corp’s holdings in Consolidated Edison were worth $2,711,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of Consolidated Edison by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 45,636,041 shares of the utilities provider’s stock worth $4,532,572,000 after purchasing an additional 461,108 shares during the last quarter. State Street Corp grew its stake in Consolidated Edison by 3.6% during the 4th quarter. State Street Corp now owns 24,905,440 shares of the utilities provider’s stock worth $2,473,608,000 after buying an additional 854,868 shares during the last quarter. Lazard Asset Management LLC increased its position in Consolidated Edison by 3.4% in the fourth quarter. Lazard Asset Management LLC now owns 6,165,594 shares of the utilities provider’s stock worth $612,367,000 after buying an additional 205,041 shares during the period. Price T Rowe Associates Inc. MD increased its position in Consolidated Edison by 11.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,200,840 shares of the utilities provider’s stock worth $516,549,000 after buying an additional 514,178 shares during the period. Finally, Norges Bank bought a new stake in Consolidated Edison in the fourth quarter valued at $489,806,000. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ED has been the subject of several analyst reports. KeyCorp reduced their price target on shares of Consolidated Edison from $97.00 to $94.00 and set an “underweight” rating for the company in a report on Thursday, July 23rd. Barclays dropped their price objective on shares of Consolidated Edison from $110.00 to $107.00 and set an “underweight” rating on the stock in a report on Monday, May 11th. Morgan Stanley reiterated an “underweight” rating on shares of Consolidated Edison in a research report on Wednesday, July 22nd. Weiss Ratings reissued a “buy (b)” rating on shares of Consolidated Edison in a research note on Tuesday, July 21st. Finally, Wells Fargo & Company set a $98.00 target price on shares of Consolidated Edison in a research report on Tuesday, April 21st. Two equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and six have given a Sell rating to the stock. According to MarketBeat.com, Consolidated Edison presently has an average rating of “Reduce” and a consensus target price of $108.47.

Consolidated Edison Trading Up 0.6%

Shares of ED stock opened at $112.15 on Wednesday. Consolidated Edison Inc has a 1 year low of $94.96 and a 1 year high of $116.23. The firm has a market capitalization of $41.33 billion, a PE ratio of 18.88, a price-to-earnings-growth ratio of 2.89 and a beta of 0.27. The stock has a fifty day moving average of $109.22 and a two-hundred day moving average of $109.26. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.09 and a current ratio of 1.19.

Consolidated Edison Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Wednesday, August 19th will be given a $0.8875 dividend. This represents a $3.55 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date is Wednesday, August 19th. Consolidated Edison’s dividend payout ratio is currently 59.76%.

About Consolidated Edison

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.