Bbva Compass Bancshares Inc. reduced its stake in Consolidated Edison, Inc. (NYSE:ED) by 45.2% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 5,186 shares of the utilities provider’s stock after selling 4,269 shares during the period. Bbva Compass Bancshares Inc.’s holdings in Consolidated Edison were worth $439,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. JPMorgan Chase & Co. lifted its holdings in Consolidated Edison by 29.7% in the third quarter. JPMorgan Chase & Co. now owns 635,902 shares of the utilities provider’s stock valued at $48,448,000 after buying an additional 145,599 shares during the period. Vanguard Group Inc lifted its holdings in Consolidated Edison by 1.5% in the third quarter. Vanguard Group Inc now owns 23,911,264 shares of the utilities provider’s stock valued at $1,821,799,000 after buying an additional 356,339 shares during the period. DNB Asset Management AS lifted its holdings in Consolidated Edison by 0.4% in the fourth quarter. DNB Asset Management AS now owns 47,586 shares of the utilities provider’s stock valued at $3,638,000 after buying an additional 175 shares during the period. Steward Partners Investment Advisory LLC lifted its holdings in Consolidated Edison by 32.8% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 10,890 shares of the utilities provider’s stock valued at $832,000 after buying an additional 2,689 shares during the period. Finally, Rockland Trust Co. lifted its holdings in Consolidated Edison by 2.4% in the fourth quarter. Rockland Trust Co. now owns 63,264 shares of the utilities provider’s stock valued at $4,837,000 after buying an additional 1,471 shares during the period. Hedge funds and other institutional investors own 59.86% of the company’s stock.

Shares of NYSE ED opened at $85.51 on Thursday. Consolidated Edison, Inc. has a 1-year low of $71.12 and a 1-year high of $86.50. The stock has a market cap of $27.82 billion, a PE ratio of 19.79, a P/E/G ratio of 9.89 and a beta of 0.13. The company has a current ratio of 0.60, a quick ratio of 0.54 and a debt-to-equity ratio of 1.01.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings data on Thursday, May 2nd. The utilities provider reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.04. Consolidated Edison had a net margin of 11.03% and a return on equity of 8.31%. The firm had revenue of $3.51 billion for the quarter, compared to analyst estimates of $3.39 billion. During the same quarter in the prior year, the business earned $1.38 earnings per share. Equities analysts anticipate that Consolidated Edison, Inc. will post 4.35 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Wednesday, May 15th will be issued a $0.74 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 3.46%. Consolidated Edison’s dividend payout ratio is presently 68.52%.

Several brokerages have recently weighed in on ED. ValuEngine upgraded shares of Consolidated Edison from a “hold” rating to a “buy” rating in a report on Monday. Bank of America upgraded shares of Consolidated Edison from a “neutral” rating to a “buy” rating and dropped their price objective for the company from $96.00 to $94.00 in a report on Friday, April 26th. They noted that the move was a valuation call. Credit Suisse Group set a $80.00 price objective on shares of Consolidated Edison and gave the company a “sell” rating in a report on Monday, April 22nd. Mizuho began coverage on shares of Consolidated Edison in a report on Monday, March 11th. They set a “neutral” rating and a $85.00 price objective on the stock. Finally, Zacks Investment Research lowered shares of Consolidated Edison from a “buy” rating to a “hold” rating in a report on Monday, February 25th. Five equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $78.42.

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About Consolidated Edison

Consolidated Edison, Inc, through its subsidiaries, engages in regulated electric, gas, and steam delivery businesses in the United States. The company 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 1,622 customers in parts of Manhattan.

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

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