Consolidated Edison, Inc. (NYSE:ED) Shares Sold by Krane Funds Advisors LLC

Krane Funds Advisors LLC trimmed its position in Consolidated Edison, Inc. (NYSE:ED) by 38.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,067 shares of the utilities provider’s stock after selling 1,920 shares during the period. Krane Funds Advisors LLC’s holdings in Consolidated Edison were worth $319,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Sei Investments Co. raised its holdings in Consolidated Edison by 57.4% during the first quarter. Sei Investments Co. now owns 244,404 shares of the utilities provider’s stock worth $22,193,000 after purchasing an additional 89,080 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in Consolidated Edison by 153.9% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 245,802 shares of the utilities provider’s stock worth $22,321,000 after buying an additional 148,988 shares in the last quarter. Mizuho Markets Americas LLC increased its holdings in Consolidated Edison by 121.1% in the first quarter. Mizuho Markets Americas LLC now owns 113,675 shares of the utilities provider’s stock valued at $10,323,000 after buying an additional 62,260 shares in the last quarter. AMF Tjanstepension AB purchased a new stake in shares of Consolidated Edison during the 1st quarter worth approximately $13,193,000. Finally, Plato Investment Management Ltd grew its holdings in shares of Consolidated Edison by 17,683.9% in the 1st quarter. Plato Investment Management Ltd now owns 9,959 shares of the utilities provider’s stock worth $904,000 after acquiring an additional 9,903 shares during the period. 66.29% of the stock is owned by institutional investors and hedge funds.

Consolidated Edison Price Performance

ED opened at $105.82 on Tuesday. The company has a fifty day simple moving average of $102.89 and a 200 day simple moving average of $96.80. The company has a current ratio of 1.04, a quick ratio of 0.97 and a debt-to-equity ratio of 1.08. The firm has a market cap of $36.60 billion, a price-to-earnings ratio of 20.40, a PEG ratio of 3.46 and a beta of 0.36. Consolidated Edison, Inc. has a twelve month low of $85.85 and a twelve month high of $107.10.

Consolidated Edison (NYSE:ED) last announced its earnings results on Thursday, August 1st. The utilities provider reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02. Consolidated Edison had a return on equity of 8.67% and a net margin of 12.03%. The company had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.08 billion. During the same period in the prior year, the company posted $0.61 EPS. Equities research analysts expect that Consolidated Edison, Inc. will post 5.3 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Wednesday, November 13th will be paid a $0.83 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $3.32 annualized dividend and a dividend yield of 3.14%. Consolidated Edison’s payout ratio is currently 63.72%.

Analysts Set New Price Targets

ED has been the topic of a number of research analyst reports. Barclays boosted their target price on Consolidated Edison from $98.00 to $104.00 and gave the stock an “underweight” rating in a research report on Monday. Bank of America raised their target price on shares of Consolidated Edison from $97.00 to $109.00 and gave the company a “buy” rating in a report on Monday, August 5th. Jefferies Financial Group began coverage on shares of Consolidated Edison in a report on Wednesday, October 9th. They issued a “hold” rating and a $108.00 price target on the stock. Scotiabank increased their price objective on Consolidated Edison from $85.00 to $90.00 and gave the company a “sector underperform” rating in a research note on Tuesday, August 20th. Finally, Guggenheim increased their price objective on shares of Consolidated Edison from $88.00 to $91.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Consolidated Edison has an average rating of “Hold” and a consensus target price of $98.73.

About Consolidated Edison

Consolidated Edison, Inc, through its subsidiaries, engages in the regulated electric, gas, and steam delivery businesses in the United States. It offers electric services to approximately 3.7 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 1,530 customers in parts of Manhattan.