Creative Planning boosted its holdings in shares of Consolidated Edison, Inc. (NYSE:ED) by 1.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 67,575 shares of the utilities provider’s stock after purchasing an additional 704 shares during the period. Creative Planning’s holdings in Consolidated Edison were worth $6,384,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in ED. BlackRock Inc. raised its holdings in shares of Consolidated Edison by 7.5% during the second quarter. BlackRock Inc. now owns 31,370,484 shares of the utilities provider’s stock valued at $2,750,563,000 after acquiring an additional 2,198,264 shares during the period. Vanguard Group Inc. raised its holdings in shares of Consolidated Edison by 3.0% during the second quarter. Vanguard Group Inc. now owns 26,943,155 shares of the utilities provider’s stock valued at $2,362,375,000 after acquiring an additional 781,260 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Consolidated Edison by 0.6% during the second quarter. Bank of New York Mellon Corp now owns 4,314,031 shares of the utilities provider’s stock valued at $378,253,000 after acquiring an additional 26,528 shares during the period. Northern Trust Corp raised its holdings in shares of Consolidated Edison by 2.2% during the second quarter. Northern Trust Corp now owns 4,281,864 shares of the utilities provider’s stock valued at $375,435,000 after acquiring an additional 94,113 shares during the period. Finally, Renaissance Technologies LLC increased its stake in Consolidated Edison by 13.6% in the 2nd quarter. Renaissance Technologies LLC now owns 3,620,400 shares of the utilities provider’s stock valued at $317,437,000 after buying an additional 434,000 shares during the period. 59.80% of the stock is owned by institutional investors and hedge funds.

ED stock traded down $0.02 during trading hours on Friday, hitting $87.20. The company’s stock had a trading volume of 37,200 shares, compared to its average volume of 1,501,818. The company has a quick ratio of 0.56, a current ratio of 0.58 and a debt-to-equity ratio of 1.01. The company has a market capitalization of $29.36 billion, a PE ratio of 20.20, a price-to-earnings-growth ratio of 10.23 and a beta of 0.04. Consolidated Edison, Inc. has a 12 month low of $73.29 and a 12 month high of $94.97. The stock has a 50 day moving average price of $92.36 and a two-hundred day moving average price of $88.66.

Consolidated Edison (NYSE:ED) last posted its earnings results on Monday, November 4th. The utilities provider reported $1.54 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.58 by ($0.04). The business had revenue of $3.37 billion during the quarter, compared to the consensus estimate of $3.50 billion. Consolidated Edison had a return on equity of 7.92% and a net margin of 10.98%. During the same period in the prior year, the firm earned $1.57 earnings per share. Sell-side analysts expect that Consolidated Edison, Inc. will post 4.32 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Wednesday, November 13th will be given a $0.74 dividend. This represents a $2.96 annualized dividend and a yield of 3.39%. The ex-dividend date is Tuesday, November 12th. Consolidated Edison’s dividend payout ratio is 68.52%.

Several research firms have weighed in on ED. Wells Fargo & Co dropped their price objective on shares of Consolidated Edison from $95.00 to $94.00 and set a “market perform” rating on the stock in a research note on Tuesday. ValuEngine lowered shares of Consolidated Edison from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Mizuho upgraded shares of Consolidated Edison from a “neutral” rating to a “buy” rating and upped their price objective for the company from $93.00 to $98.00 in a research note on Friday, October 25th. Credit Suisse Group dropped their price objective on shares of Consolidated Edison from $90.00 to $89.00 and set an “underperform” rating on the stock in a research note on Tuesday. Finally, Bank of America upped their price objective on shares of Consolidated Edison from $99.00 to $101.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $92.51.

Consolidated Edison Profile

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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