GM Advisory Group Inc. grew its holdings in Consolidated Edison, Inc. (NYSE:ED) by 21.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,599 shares of the utilities provider’s stock after acquiring an additional 1,000 shares during the period. GM Advisory Group Inc.’s holdings in Consolidated Edison were worth $427,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. increased its stake in shares of Consolidated Edison by 0.6% in the third quarter. BlackRock Inc. now owns 27,868,538 shares of the utilities provider’s stock worth $2,123,304,000 after purchasing an additional 179,165 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Consolidated Edison by 22.8% in the third quarter. Bank of New York Mellon Corp now owns 3,581,782 shares of the utilities provider’s stock worth $272,896,000 after purchasing an additional 664,252 shares in the last quarter. Legal & General Group Plc increased its stake in shares of Consolidated Edison by 4.9% in the second quarter. Legal & General Group Plc now owns 3,247,049 shares of the utilities provider’s stock worth $253,203,000 after purchasing an additional 152,883 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Consolidated Edison by 7.6% in the third quarter. Renaissance Technologies LLC now owns 3,051,400 shares of the utilities provider’s stock worth $232,486,000 after purchasing an additional 215,200 shares in the last quarter. Finally, Swiss National Bank increased its stake in shares of Consolidated Edison by 4.1% in the second quarter. Swiss National Bank now owns 2,279,371 shares of the utilities provider’s stock worth $177,745,000 after purchasing an additional 90,600 shares in the last quarter. Institutional investors and hedge funds own 58.03% of the company’s stock.

Several research firms recently weighed in on ED. Zacks Investment Research cut shares of Consolidated Edison from a “hold” rating to a “sell” rating in a research note on Thursday, October 4th. Morgan Stanley raised their target price on shares of Consolidated Edison from $77.00 to $81.00 and gave the company a “sell” rating in a research note on Tuesday, September 11th. ValuEngine raised shares of Consolidated Edison from a “hold” rating to a “buy” rating in a research note on Wednesday. Citigroup raised their target price on shares of Consolidated Edison from $79.00 to $80.00 and gave the company a “neutral” rating in a research note on Tuesday, October 16th. Finally, UBS Group raised their target price on shares of Consolidated Edison from $83.00 to $84.00 and gave the company a “neutral” rating in a research note on Friday, September 21st. Four analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $77.36.

Shares of NYSE:ED opened at $81.99 on Wednesday. Consolidated Edison, Inc. has a 52 week low of $71.12 and a 52 week high of $89.70. The firm has a market capitalization of $25.03 billion, a price-to-earnings ratio of 20.05, a price-to-earnings-growth ratio of 4.73 and a beta of 0.04. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.62 and a quick ratio of 0.56.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings data on Thursday, November 1st. The utilities provider reported $1.57 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.11. Consolidated Edison had a net margin of 12.60% and a return on equity of 8.64%. The business had revenue of $3.33 billion during the quarter, compared to analysts’ expectations of $3.17 billion. During the same period last year, the company posted $1.47 EPS. As a group, research analysts expect that Consolidated Edison, Inc. will post 4.29 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 17th. Shareholders of record on Wednesday, November 14th will be paid a $0.715 dividend. The ex-dividend date of this dividend is Tuesday, November 13th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 3.49%. Consolidated Edison’s payout ratio is currently 69.93%.

COPYRIGHT VIOLATION WARNING: This piece was reported by Watch List News and is owned by of Watch List News. If you are viewing this piece on another publication, it was illegally stolen and republished in violation of U.S. and international copyright & trademark laws. The legal version of this piece can be read at https://www.watchlistnews.com/gm-advisory-group-inc-acquires-1000-shares-of-consolidated-edison-inc-ed/2662476.html.

Consolidated Edison Company 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 3.4 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 1,600 customers in parts of Manhattan.

Featured Article: What is the Coverage Ratio?

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

Receive News & Ratings for Consolidated Edison Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Consolidated Edison and related companies with MarketBeat.com's FREE daily email newsletter.