MUFG Securities EMEA plc decreased its position in Consolidated Edison, Inc. (NYSE:ED) by 62.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 132,200 shares of the utilities provider’s stock after selling 218,600 shares during the quarter. MUFG Securities EMEA plc’s holdings in Consolidated Edison were worth $11,591,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Wilbanks Smith & Thomas Asset Management LLC raised its stake in Consolidated Edison by 2.7% during the second quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 4,380 shares of the utilities provider’s stock valued at $384,000 after purchasing an additional 116 shares in the last quarter. 6 Meridian raised its position in shares of Consolidated Edison by 1.9% during the 2nd quarter. 6 Meridian now owns 6,295 shares of the utilities provider’s stock worth $552,000 after purchasing an additional 117 shares during the last quarter. Valmark Advisers Inc. boosted its position in Consolidated Edison by 5.5% during the second quarter. Valmark Advisers Inc. now owns 2,510 shares of the utilities provider’s stock worth $220,000 after acquiring an additional 131 shares during the last quarter. Round Table Services LLC grew its position in shares of Consolidated Edison by 2.3% in the second quarter. Round Table Services LLC now owns 6,140 shares of the utilities provider’s stock valued at $538,000 after purchasing an additional 138 shares in the last quarter. Finally, Carnegie Capital Asset Management LLC boosted its stake in Consolidated Edison by 2.5% during the second quarter. Carnegie Capital Asset Management LLC now owns 5,566 shares of the utilities provider’s stock worth $488,000 after buying an additional 138 shares during the last quarter. Institutional investors and hedge funds own 59.67% of the company’s stock.

A number of analysts recently weighed in on the stock. ValuEngine lowered shares of Consolidated Edison from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Barclays reaffirmed a “hold” rating and set a $90.00 price objective on shares of Consolidated Edison in a research report on Thursday, June 20th. Credit Suisse Group dropped their price objective on shares of Consolidated Edison from $87.00 to $86.00 and set an “underperform” rating on the stock in a research note on Thursday, August 8th. KeyCorp assumed coverage on shares of Consolidated Edison in a research note on Tuesday, June 4th. They issued a “sector weight” rating on the stock. Finally, Morgan Stanley decreased their target price on shares of Consolidated Edison from $93.00 to $91.00 and set an “underweight” rating for the company in a research note on Friday, August 16th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $84.73.

Shares of NYSE ED traded up $0.38 during trading hours on Wednesday, hitting $89.71. The stock had a trading volume of 123,470 shares, compared to its average volume of 1,553,731. The company has a market capitalization of $29.87 billion, a P/E ratio of 20.73, a P/E/G ratio of 10.43 and a beta of 0.08. The firm’s 50-day moving average price is $87.62 and its two-hundred day moving average price is $86.35. Consolidated Edison, Inc. has a 52 week low of $73.29 and a 52 week high of $91.58. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.56 and a current ratio of 0.62.

Consolidated Edison (NYSE:ED) last released its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.02). The firm had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.67 billion. Consolidated Edison had a return on equity of 8.04% and a net margin of 10.71%. During the same quarter in the prior year, the company posted $0.61 EPS. As a group, analysts expect that Consolidated Edison, Inc. will post 4.34 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Wednesday, August 14th will be issued a dividend of $0.74 per share. The ex-dividend date is Tuesday, August 13th. This represents a $2.96 annualized dividend and a yield of 3.30%. Consolidated Edison’s dividend payout ratio (DPR) is currently 68.52%.

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 3.5 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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