Farmers National Bank purchased a new position in Consolidated Edison, Inc. (NYSE:ED) during the first quarter, Holdings Channel reports. The fund purchased 6,426 shares of the utilities provider’s stock, valued at approximately $545,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. BlackRock Inc. increased its position in shares of Consolidated Edison by 3.8% during the 4th quarter. BlackRock Inc. now owns 28,920,573 shares of the utilities provider’s stock valued at $2,211,265,000 after purchasing an additional 1,052,035 shares during the last quarter. Vanguard Group Inc increased its position in shares of Consolidated Edison by 1.5% during the 3rd quarter. Vanguard Group Inc now owns 23,911,264 shares of the utilities provider’s stock valued at $1,821,799,000 after purchasing an additional 356,339 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Consolidated Edison by 9.8% during the 4th quarter. Geode Capital Management LLC now owns 4,460,033 shares of the utilities provider’s stock valued at $340,474,000 after purchasing an additional 398,820 shares during the last quarter. Northern Trust Corp increased its position in shares of Consolidated Edison by 4.1% during the 4th quarter. Northern Trust Corp now owns 4,254,873 shares of the utilities provider’s stock valued at $325,328,000 after purchasing an additional 166,793 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in Consolidated Edison by 18.5% in the 4th quarter. Bank of New York Mellon Corp now owns 4,245,988 shares of the utilities provider’s stock valued at $324,647,000 after acquiring an additional 664,206 shares during the last quarter. 59.86% of the stock is currently owned by institutional investors.

Shares of NYSE:ED opened at $84.90 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 P/E ratio of 19.65, a price-to-earnings-growth 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 earnings results on Thursday, May 2nd. The utilities provider reported $1.39 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.35 by $0.04. Consolidated Edison had a return on equity of 8.31% and a net margin of 11.03%. The company had revenue of $3.51 billion for the quarter, compared to analyst estimates of $3.39 billion. During the same period in the prior year, the company posted $1.38 EPS. Research analysts expect that Consolidated Edison, Inc. will post 4.35 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Wednesday, May 15th will be issued a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a dividend yield of 3.49%. The ex-dividend date is Tuesday, May 14th. Consolidated Edison’s dividend payout ratio is presently 68.52%.

Several brokerages have commented on ED. ValuEngine raised Consolidated Edison from a “hold” rating to a “buy” rating in a research report on Monday. Bank of America raised Consolidated Edison from a “neutral” rating to a “buy” rating and cut their price objective for the company from $96.00 to $94.00 in a research report on Friday, April 26th. They noted that the move was a valuation call. Credit Suisse Group set a $80.00 price objective on Consolidated Edison and gave the company a “sell” rating in a research report on Monday, April 22nd. Mizuho began coverage on Consolidated Edison in a research report on Monday, March 11th. They issued a “neutral” rating and a $85.00 price objective on the stock. Finally, Zacks Investment Research downgraded Consolidated Edison from a “buy” rating to a “hold” rating in a research report on Monday, February 25th. Five investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. Consolidated Edison presently 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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