Checchi Capital Advisers LLC raised its stake in Consolidated Edison Inc (NYSE:ED) by 5.1% during the second quarter, Holdings Channel reports. The fund owned 4,678 shares of the utilities provider’s stock after buying an additional 228 shares during the period. Checchi Capital Advisers LLC’s holdings in Consolidated Edison were worth $378,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. BlackRock Inc. boosted its position in Consolidated Edison by 1,771.1% in the first quarter. BlackRock Inc. now owns 24,104,499 shares of the utilities provider’s stock worth $1,871,955,000 after buying an additional 22,816,233 shares during the period. Vanguard Group Inc. boosted its position in Consolidated Edison by 3.5% in the first quarter. Vanguard Group Inc. now owns 21,304,464 shares of the utilities provider’s stock worth $1,654,504,000 after buying an additional 725,857 shares during the period. State Street Corp boosted its position in Consolidated Edison by 0.4% in the first quarter. State Street Corp now owns 19,962,044 shares of the utilities provider’s stock worth $1,550,245,000 after buying an additional 77,044 shares during the period. Bank of New York Mellon Corp boosted its position in Consolidated Edison by 34.1% in the first quarter. Bank of New York Mellon Corp now owns 3,478,494 shares of the utilities provider’s stock worth $270,138,000 after buying an additional 884,788 shares during the period. Finally, APG Asset Management N.V. boosted its position in Consolidated Edison by 1.3% in the first quarter. APG Asset Management N.V. now owns 3,121,650 shares of the utilities provider’s stock worth $242,427,000 after buying an additional 39,537 shares during the period. 54.90% of the stock is currently owned by institutional investors and hedge funds.

Consolidated Edison Inc (NYSE ED) opened at 83.05 on Wednesday. The company has a market cap of $25.39 billion, a PE ratio of 20.09 and a beta of 0.08. The stock has a 50 day moving average price of $81.94 and a 200 day moving average price of $79.52. Consolidated Edison Inc has a one year low of $68.76 and a one year high of $85.13.

Consolidated Edison (NYSE:ED) last posted its earnings results on Thursday, August 3rd. The utilities provider reported $0.58 EPS for the quarter, missing the consensus estimate of $0.61 by $0.03. The business had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.79 billion. Consolidated Edison had a return on equity of 8.59% and a net margin of 10.57%. During the same period in the previous year, the firm earned $0.60 earnings per share. On average, equities analysts anticipate that Consolidated Edison Inc will post $4.09 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Wednesday, August 16th will be given a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 3.32%. The ex-dividend date of this dividend is Monday, August 14th. Consolidated Edison’s payout ratio is presently 66.67%.

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ED has been the subject of a number of research reports. Morgan Stanley increased their target price on Consolidated Edison from $75.00 to $78.00 and gave the stock an “underweight” rating in a report on Thursday, August 10th. UBS AG increased their target price on Consolidated Edison from $72.00 to $75.00 and gave the stock a “sell” rating in a report on Monday, May 8th. BidaskClub cut Consolidated Edison from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 24th. Zacks Investment Research upgraded Consolidated Edison from a “hold” rating to a “buy” rating and set a $89.00 target price for the company in a report on Thursday, May 18th. Finally, Deutsche Bank AG cut Consolidated Edison from a “hold” rating to a “sell” rating and set a $74.00 target price for the company. in a report on Monday, May 8th. Five equities research analysts have rated the stock with a sell rating and nine have issued a hold rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $76.96.

Consolidated Edison Company 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).

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

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