Commerce Bank trimmed its position in shares of Consolidated Edison, Inc. (NYSE:ED) by 1.0% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 34,855 shares of the utilities provider’s stock after selling 355 shares during the period. Commerce Bank’s holdings in Consolidated Edison were worth $2,956,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of ED. Norges Bank acquired a new position in Consolidated Edison during the 4th quarter valued at about $266,741,000. Oregon Public Employees Retirement Fund lifted its stake in shares of Consolidated Edison by 7,452.3% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,577,390 shares of the utilities provider’s stock worth $34,000 after acquiring an additional 2,543,263 shares during the period. Millennium Management LLC lifted its stake in shares of Consolidated Edison by 2,195.8% in the 4th quarter. Millennium Management LLC now owns 1,142,312 shares of the utilities provider’s stock worth $87,341,000 after acquiring an additional 1,092,555 shares during the period. BlackRock Inc. lifted its stake in shares of Consolidated Edison by 3.8% in the 4th quarter. BlackRock Inc. now owns 28,920,573 shares of the utilities provider’s stock worth $2,211,265,000 after acquiring an additional 1,052,035 shares during the period. Finally, D. E. Shaw & Co. Inc. acquired a new stake in shares of Consolidated Edison in the 4th quarter worth approximately $73,086,000. 59.21% of the stock is owned by hedge funds and other institutional investors.

A number of analysts have recently weighed in on ED shares. ValuEngine raised shares of Consolidated Edison from a “hold” rating to a “buy” rating in a research note on Monday, May 13th. Bank of America raised shares of Consolidated Edison from a “neutral” rating to a “buy” rating and reduced their price target for the stock from $96.00 to $94.00 in a research note on Friday, April 26th. They noted that the move was a valuation call. Zacks Investment Research raised shares of Consolidated Edison from a “hold” rating to a “buy” rating and set a $88.00 price target for the company in a research note on Wednesday, February 13th. Mizuho started coverage on shares of Consolidated Edison in a research note on Monday, March 11th. They issued a “neutral” rating and a $85.00 price target for the company. Finally, Credit Suisse Group set a $80.00 price target on shares of Consolidated Edison and gave the stock a “sell” rating in a research note on Monday, April 22nd. Five analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. Consolidated Edison has a consensus rating of “Hold” and a consensus target price of $78.92.

Shares of NYSE:ED opened at $88.14 on Friday. Consolidated Edison, Inc. has a twelve month low of $71.12 and a twelve month high of $88.92. The company has a market capitalization of $28.83 billion, a PE ratio of 20.40, a P/E/G ratio of 9.96 and a beta of 0.13. The company has a quick ratio of 0.54, a current ratio of 0.60 and a debt-to-equity ratio of 1.01.

Consolidated Edison (NYSE:ED) last released its earnings results on Thursday, May 2nd. The utilities provider reported $1.39 EPS 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 business had revenue of $3.51 billion during the quarter, compared to analyst estimates of $3.39 billion. During the same period in the prior year, the business earned $1.38 earnings per share. Equities analysts forecast that Consolidated Edison, Inc. will post 4.35 earnings per share 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 paid a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a yield of 3.36%. The ex-dividend date is Tuesday, May 14th. Consolidated Edison’s dividend payout ratio is presently 68.52%.

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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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