Meeder Advisory Services Inc. Boosts Position in Consolidated Edison, Inc. (NYSE:ED)

Meeder Advisory Services Inc. grew its holdings in Consolidated Edison, Inc. (NYSE:ED) by 3.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,814 shares of the utilities provider’s stock after acquiring an additional 341 shares during the period. Meeder Advisory Services Inc.’s holdings in Consolidated Edison were worth $1,022,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Pathway Financial Advisers LLC boosted its position in Consolidated Edison by 10,302.6% in the 3rd quarter. Pathway Financial Advisers LLC now owns 24,446 shares of the utilities provider’s stock worth $2,546,000 after purchasing an additional 24,211 shares in the last quarter. Plato Investment Management Ltd boosted its holdings in Consolidated Edison by 17,683.9% during the first quarter. Plato Investment Management Ltd now owns 9,959 shares of the utilities provider’s stock worth $904,000 after buying an additional 9,903 shares in the last quarter. Cetera Advisors LLC grew its position in Consolidated Edison by 74.5% during the first quarter. Cetera Advisors LLC now owns 17,150 shares of the utilities provider’s stock valued at $1,557,000 after buying an additional 7,324 shares during the period. Czech National Bank increased its holdings in Consolidated Edison by 8.5% in the second quarter. Czech National Bank now owns 65,902 shares of the utilities provider’s stock valued at $5,893,000 after buying an additional 5,161 shares in the last quarter. Finally, National Pension Service raised its position in shares of Consolidated Edison by 7.0% in the third quarter. National Pension Service now owns 468,572 shares of the utilities provider’s stock worth $48,792,000 after acquiring an additional 30,838 shares during the period. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on ED shares. Barclays cut their price target on Consolidated Edison from $104.00 to $99.00 and set an “underweight” rating for the company in a research note on Friday, November 8th. Guggenheim upped their target price on Consolidated Edison from $88.00 to $91.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. UBS Group lifted their price target on shares of Consolidated Edison from $105.00 to $106.00 and gave the company a “neutral” rating in a research note on Friday, September 20th. Scotiabank upped their price objective on shares of 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, Wells Fargo & Company lifted their target price 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. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating, two have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Consolidated Edison has a consensus rating of “Hold” and an average target price of $98.35.

Consolidated Edison Stock Up 0.5 %

NYSE ED opened at $96.97 on Wednesday. The business’s fifty day simple moving average is $102.35 and its 200-day simple moving average is $98.06. 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 firm has a market cap of $33.59 billion, a PE ratio of 18.26, a P/E/G ratio of 3.24 and a beta of 0.36. Consolidated Edison, Inc. has a 52 week low of $85.85 and a 52 week high of $107.75.

Consolidated Edison (NYSE:ED) last posted its earnings results on Thursday, November 7th. The utilities provider reported $1.68 earnings per share for the quarter, beating the consensus estimate of $1.56 by $0.12. The company had revenue of $4.09 billion for the quarter, compared to analyst estimates of $4.02 billion. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.70%. As a group, equities analysts anticipate that Consolidated Edison, Inc. will post 5.33 earnings per share for the current year.

Consolidated Edison Dividend Announcement

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 $0.83 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $3.32 dividend on an annualized basis and a yield of 3.42%. Consolidated Edison’s dividend payout ratio is currently 62.52%.

Consolidated Edison Company Profile

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.