Gulf International Bank UK Ltd raised its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 5.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 99,364 shares of the utilities provider’s stock after purchasing an additional 4,700 shares during the period. Gulf International Bank UK Ltd’s holdings in Consolidated Edison were worth $8,440,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of ED. CIBC World Markets Inc. acquired a new stake in shares of Consolidated Edison during the 2nd quarter valued at $480,000. Fiera Capital Corp boosted its stake in shares of Consolidated Edison by 0.3% during the 2nd quarter. Fiera Capital Corp now owns 4,895 shares of the utilities provider’s stock valued at $395,000 after buying an additional 13 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of Consolidated Edison by 1.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 219,812 shares of the utilities provider’s stock valued at $17,762,000 after buying an additional 3,832 shares during the period. Thrivent Financial For Lutherans boosted its stake in shares of Consolidated Edison by 2.9% during the 2nd quarter. Thrivent Financial For Lutherans now owns 12,304 shares of the utilities provider’s stock valued at $994,000 after buying an additional 350 shares during the period. Finally, New York State Common Retirement Fund boosted its stake in shares of Consolidated Edison by 6.2% during the 2nd quarter. New York State Common Retirement Fund now owns 776,500 shares of the utilities provider’s stock valued at $62,757,000 after buying an additional 45,299 shares during the period. 55.50% of the stock is owned by institutional investors.

A number of brokerages have issued reports on ED. Zacks Investment Research lowered shares of Consolidated Edison from a “buy” rating to a “hold” rating in a research note on Tuesday, October 3rd. Evercore ISI lowered shares of Consolidated Edison from an “in-line” rating to an “underperform” rating and set a $74.00 target price for the company. in a research note on Tuesday, September 26th. KeyCorp reissued a “hold” rating on shares of Consolidated Edison in a research note on Friday, October 20th. Bank of America began coverage on shares of Consolidated Edison in a research note on Tuesday, October 24th. They set a “buy” rating and a $92.00 target price for the company. Finally, ValuEngine raised shares of Consolidated Edison from a “hold” rating to a “buy” rating in a research note on Friday, November 10th. Six analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $80.71.

Consolidated Edison, Inc. (ED) traded up $0.42 during trading on Wednesday, hitting $79.44. 1,130,770 shares of the stock were exchanged, compared to its average volume of 1,911,090. The company has a market cap of $24,580.00, a P/E ratio of 19.91, a P/E/G ratio of 9.32 and a beta of 0.10. 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, Inc. has a fifty-two week low of $72.13 and a fifty-two week high of $89.70.

Consolidated Edison (NYSE:ED) last released its quarterly earnings results on Thursday, November 2nd. The utilities provider reported $1.47 earnings per share for the quarter, missing analysts’ consensus estimates of $1.54 by ($0.07). The business had revenue of $3.21 billion for the quarter, compared to the consensus estimate of $3.14 billion. Consolidated Edison had a net margin of 10.42% and a return on equity of 8.42%. During the same quarter in the prior year, the business posted $1.51 EPS. equities research analysts anticipate that Consolidated Edison, Inc. will post 4.1 EPS for the current year.

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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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