Chevy Chase Trust Holdings Inc. boosted its holdings in shares of Consolidated Edison, Inc. (NYSE:ED) by 2.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 272,423 shares of the utilities provider’s stock after buying an additional 7,133 shares during the quarter. Chevy Chase Trust Holdings Inc. owned approximately 0.09% of Consolidated Edison worth $21,979,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. grew its position in shares of Consolidated Edison by 1.8% in the second quarter. BlackRock Inc. now owns 24,544,339 shares of the utilities provider’s stock valued at $1,983,672,000 after purchasing an additional 439,840 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Consolidated Edison by 2.4% in the second quarter. Vanguard Group Inc. now owns 21,821,324 shares of the utilities provider’s stock valued at $1,763,600,000 after purchasing an additional 516,860 shares during the last quarter. APG Asset Management N.V. grew its position in shares of Consolidated Edison by 38.2% in the third quarter. APG Asset Management N.V. now owns 4,055,555 shares of the utilities provider’s stock valued at $327,202,000 after purchasing an additional 1,121,200 shares during the last quarter. Legal & General Group Plc grew its position in shares of Consolidated Edison by 5.2% in the third quarter. Legal & General Group Plc now owns 2,930,589 shares of the utilities provider’s stock valued at $236,432,000 after purchasing an additional 144,652 shares during the last quarter. Finally, Federated Investors Inc. PA grew its position in shares of Consolidated Edison by 1.1% in the second quarter. Federated Investors Inc. PA now owns 2,716,781 shares of the utilities provider’s stock valued at $219,570,000 after purchasing an additional 29,358 shares during the last quarter. 55.69% of the stock is currently owned by hedge funds and other institutional investors.

Several equities analysts have recently commented on ED shares. Zacks Investment Research raised Consolidated Edison from a “hold” rating to a “buy” rating and set a $90.00 target price on the stock in a research report on Monday, October 2nd. BidaskClub raised Consolidated Edison from a “hold” rating to a “buy” rating in a research report on Tuesday, August 22nd. Bank of America started coverage on Consolidated Edison in a research report on Tuesday, October 24th. They issued a “buy” rating and a $92.00 target price on the stock. ValuEngine raised Consolidated Edison from a “hold” rating to a “buy” rating in a research report on Friday, November 10th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Consolidated Edison in a research report on Friday, October 20th. Five analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $80.32.

Shares of Consolidated Edison, Inc. (ED) traded up $0.43 during trading hours on Monday, reaching $88.92. The company had a trading volume of 1,628,700 shares, compared to its average volume of 1,513,872. The firm has a market capitalization of $27,571.32, a P/E ratio of 22.17, a P/E/G ratio of 7.24 and a beta of 0.10. Consolidated Edison, Inc. has a 1-year low of $70.40 and a 1-year high of $89.58. The company has a quick ratio of 0.70, a current ratio of 0.79 and a debt-to-equity ratio of 0.97.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Thursday, November 2nd. The utilities provider reported $1.47 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.54 by ($0.07). The company had revenue of $3.21 billion for the quarter, compared to analyst estimates of $3.14 billion. Consolidated Edison had a return on equity of 8.42% and a net margin of 10.42%. During the same period in the prior year, the company earned $1.51 EPS. sell-side analysts predict that Consolidated Edison, Inc. will post 4.09 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Wednesday, November 15th will be given a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date of this dividend is Tuesday, November 14th. Consolidated Edison’s dividend payout ratio is currently 69.00%.

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Consolidated Edison Profile

Consolidated Edison, Inc (Con Edison) is a holding company. The Company operates through its subsidiaries, which include Consolidated Edison Company of New York, Inc (CECONY), Orange and Rockland Utilities, Inc (O&R), Con Edison Clean Energy Businesses, Inc (the Clean Energy Businesses) and Con Edison Transmission, Inc (Con Edison Transmission).

Institutional Ownership by Quarter for Consolidated Edison (NYSE:ED)

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