OneDigital Investment Advisors LLC Grows Position in Consolidated Edison, Inc. (NYSE:ED)

OneDigital Investment Advisors LLC raised its position in Consolidated Edison, Inc. (NYSE:ED) by 5.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,988 shares of the utilities provider’s stock after purchasing an additional 770 shares during the quarter. OneDigital Investment Advisors LLC’s holdings in Consolidated Edison were worth $1,665,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in ED. Clean Energy Transition LLP boosted its holdings in Consolidated Edison by 227.9% during the 2nd quarter. Clean Energy Transition LLP now owns 897,553 shares of the utilities provider’s stock valued at $80,259,000 after acquiring an additional 623,787 shares during the period. International Assets Investment Management LLC lifted its position in shares of Consolidated Edison by 10,262.1% during the third quarter. International Assets Investment Management LLC now owns 553,546 shares of the utilities provider’s stock worth $57,641,000 after purchasing an additional 548,204 shares during the last quarter. Acadian Asset Management LLC boosted its stake in shares of Consolidated Edison by 302.3% during the second quarter. Acadian Asset Management LLC now owns 709,172 shares of the utilities provider’s stock valued at $63,396,000 after purchasing an additional 532,893 shares during the period. Assenagon Asset Management S.A. grew its holdings in shares of Consolidated Edison by 4,020.5% in the third quarter. Assenagon Asset Management S.A. now owns 406,859 shares of the utilities provider’s stock worth $42,366,000 after purchasing an additional 396,985 shares during the last quarter. Finally, AMF Tjanstepension AB increased its stake in Consolidated Edison by 243.2% in the 2nd quarter. AMF Tjanstepension AB now owns 497,982 shares of the utilities provider’s stock worth $44,564,000 after buying an additional 352,903 shares during the period. Institutional investors own 66.29% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on ED. Wells Fargo & Company boosted their price objective on shares of Consolidated Edison from $97.00 to $105.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. Jefferies Financial Group started coverage on Consolidated Edison in a research note on Wednesday, October 9th. They issued a “hold” rating and a $108.00 price objective on the stock. Bank of America lifted their target price on Consolidated Edison from $97.00 to $109.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Scotiabank increased their price target on Consolidated Edison from $85.00 to $90.00 and gave the stock a “sector underperform” rating in a research report on Tuesday, August 20th. Finally, Barclays decreased their price objective on Consolidated Edison from $104.00 to $99.00 and set an “underweight” rating for the company in a report on Friday, November 8th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating, two have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $98.35.

Consolidated Edison Stock Up 1.3 %

Shares of Consolidated Edison stock opened at $96.44 on Monday. Consolidated Edison, Inc. has a 52-week low of $85.85 and a 52-week high of $107.75. The firm’s 50 day moving average price is $102.68 and its 200-day moving average price is $98.04. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07. The company has a market cap of $33.41 billion, a P/E ratio of 18.16, a PEG ratio of 3.24 and a beta of 0.36.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings data on Thursday, November 7th. The utilities provider reported $1.68 EPS for the quarter, beating the consensus estimate of $1.56 by $0.12. Consolidated Edison had a return on equity of 8.70% and a net margin of 12.27%. The firm had revenue of $4.09 billion during the quarter, compared to analyst estimates of $4.02 billion. On average, sell-side analysts predict that Consolidated Edison, Inc. will post 5.33 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Wednesday, November 13th will be paid a dividend of $0.83 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.44%. Consolidated Edison’s payout ratio is 62.52%.

About Consolidated Edison

Consolidated Edison, Inc, through its subsidiaries, engages in the regulated electric, gas, and steam delivery businesses in the United States. It offers electric services to approximately 3.7 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 1,530 customers in parts of Manhattan.