Consolidated Edison, Inc. (NYSE:ED) Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. lifted its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 5.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 477,722 shares of the utilities provider’s stock after buying an additional 23,024 shares during the period. Principal Financial Group Inc. owned approximately 0.14% of Consolidated Edison worth $49,745,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Retirement Planning Co of New England Inc. lifted its position in Consolidated Edison by 4.2% during the 2nd quarter. Retirement Planning Co of New England Inc. now owns 2,501 shares of the utilities provider’s stock worth $224,000 after acquiring an additional 100 shares during the period. Benjamin F. Edwards & Company Inc. raised its stake in shares of Consolidated Edison by 13.0% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 868 shares of the utilities provider’s stock worth $78,000 after purchasing an additional 100 shares during the last quarter. TD Private Client Wealth LLC lifted its holdings in shares of Consolidated Edison by 4.7% during the third quarter. TD Private Client Wealth LLC now owns 2,334 shares of the utilities provider’s stock worth $243,000 after purchasing an additional 104 shares during the period. D.A. Davidson & CO. boosted its position in Consolidated Edison by 1.1% in the third quarter. D.A. Davidson & CO. now owns 11,142 shares of the utilities provider’s stock valued at $1,160,000 after buying an additional 124 shares during the last quarter. Finally, Townsquare Capital LLC boosted its position in Consolidated Edison by 2.4% in the third quarter. Townsquare Capital LLC now owns 5,574 shares of the utilities provider’s stock valued at $580,000 after buying an additional 130 shares during the last quarter. 66.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on ED shares. Jefferies Financial Group began coverage on shares of Consolidated Edison in a research note on Wednesday, October 9th. They set a “hold” rating and a $108.00 price objective for the company. UBS Group boosted their target price on shares of Consolidated Edison from $105.00 to $106.00 and gave the company a “neutral” rating in a research report on Friday, September 20th. Citigroup raised shares of Consolidated Edison from a “neutral” rating to a “buy” rating and upped their price target for the company from $103.00 to $116.00 in a report on Tuesday, October 15th. Evercore ISI upgraded Consolidated Edison from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 8th. Finally, Morgan Stanley lowered their target price on Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating on the stock in a research note on Friday, November 22nd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, two have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $99.96.

Consolidated Edison Trading Up 1.1 %

ED stock opened at $90.03 on Monday. The business’s 50-day moving average is $98.83 and its 200 day moving average is $98.06. Consolidated Edison, Inc. has a 12-month low of $85.85 and a 12-month high of $107.75. The stock has a market cap of $31.19 billion, a price-to-earnings ratio of 16.95, a PEG ratio of 3.11 and a beta of 0.36. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.07.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Thursday, November 7th. The utilities provider reported $1.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.56 by $0.12. Consolidated Edison had a return on equity of 8.70% and a net margin of 12.27%. The firm had revenue of $4.09 billion for the quarter, compared to analyst estimates of $4.02 billion. On average, sell-side analysts anticipate that Consolidated Edison, Inc. will post 5.34 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Wednesday, November 13th were paid a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 3.69%. The ex-dividend date was Wednesday, November 13th. Consolidated Edison’s dividend payout ratio is currently 62.52%.

Consolidated Edison Company Profile

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.