Royal London Asset Management Ltd. acquired a new stake in Consolidated Edison, Inc. (NYSE:ED) in the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 129,475 shares of the utilities provider’s stock, valued at approximately $10,097,000.

Several other hedge funds have also recently bought and sold shares of the company. American Century Companies Inc. raised its stake in shares of Consolidated Edison by 383.5% during the first quarter. American Century Companies Inc. now owns 36,437 shares of the utilities provider’s stock worth $2,840,000 after purchasing an additional 28,901 shares during the last quarter. Toronto Dominion Bank raised its stake in shares of Consolidated Edison by 25.1% during the first quarter. Toronto Dominion Bank now owns 168,138 shares of the utilities provider’s stock worth $13,102,000 after purchasing an additional 33,748 shares during the last quarter. Natixis Advisors L.P. raised its stake in shares of Consolidated Edison by 22.9% during the first quarter. Natixis Advisors L.P. now owns 20,606 shares of the utilities provider’s stock worth $1,606,000 after purchasing an additional 3,833 shares during the last quarter. New York State Common Retirement Fund raised its stake in shares of Consolidated Edison by 6.1% during the first quarter. New York State Common Retirement Fund now owns 859,500 shares of the utilities provider’s stock worth $66,989,000 after purchasing an additional 49,200 shares during the last quarter. Finally, Evergreen Capital Management LLC purchased a new stake in shares of Consolidated Edison during the first quarter worth approximately $776,000. 58.57% of the stock is owned by institutional investors and hedge funds.

ED has been the subject of several analyst reports. Zacks Investment Research upgraded Consolidated Edison from a “hold” rating to a “buy” rating and set a $89.00 price target for the company in a research note on Tuesday, August 7th. ValuEngine cut Consolidated Edison from a “hold” rating to a “sell” rating in a research note on Wednesday, June 6th. UBS Group upped their price target on Consolidated Edison from $83.00 to $84.00 and gave the stock a “neutral” rating in a research note on Friday. Wells Fargo & Co upped their price target on Consolidated Edison from $81.00 to $83.00 and gave the stock a “market perform” rating in a research note on Monday, September 17th. Finally, Morgan Stanley cut their price target on Consolidated Edison from $81.00 to $77.00 and set a “sell” rating for the company in a research note on Friday. Five research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the stock. Consolidated Edison currently has a consensus rating of “Hold” and an average price target of $77.90.

NYSE:ED opened at $77.89 on Monday. The firm has a market capitalization of $24.23 billion and a price-to-earnings ratio of 19.04. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.63 and a quick ratio of 0.57. Consolidated Edison, Inc. has a 1 year low of $71.12 and a 1 year high of $89.70.

Consolidated Edison (NYSE:ED) last released its quarterly earnings data on Thursday, August 2nd. The utilities provider reported $0.61 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.04. The firm had revenue of $2.70 billion during the quarter, compared to analysts’ expectations of $2.64 billion. Consolidated Edison had a return on equity of 8.52% and a net margin of 12.90%. During the same quarter in the prior year, the business posted $0.58 earnings per share. sell-side analysts anticipate that Consolidated Edison, Inc. will post 4.27 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 17th. Shareholders of record on Wednesday, August 15th were given a $0.715 dividend. This represents a $2.86 annualized dividend and a yield of 3.67%. The ex-dividend date of this dividend was Tuesday, August 14th. Consolidated Edison’s payout ratio is 69.93%.

Consolidated Edison 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.

Read More: How Important is Technical Analysis of Stocks

Want to see what other hedge funds are holding ED? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Consolidated Edison, Inc. (NYSE:ED).

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.