First Trust Advisors LP Has $107.24 Million Stake in Consolidated Edison Inc $ED

First Trust Advisors LP lowered its holdings in Consolidated Edison Inc (NYSE:ED) by 31.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 947,533 shares of the utilities provider’s stock after selling 430,717 shares during the quarter. First Trust Advisors LP owned about 0.26% of Consolidated Edison worth $107,242,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the business. Lazard Asset Management LLC lifted its position in Consolidated Edison by 121,543.9% during the 3rd quarter. Lazard Asset Management LLC now owns 5,960,553 shares of the utilities provider’s stock worth $599,155,000 after buying an additional 5,955,653 shares in the last quarter. Norges Bank acquired a new stake in Consolidated Edison in the 4th quarter valued at about $489,806,000. Deutsche Bank AG raised its stake in shares of Consolidated Edison by 101.4% in the fourth quarter. Deutsche Bank AG now owns 3,617,361 shares of the utilities provider’s stock worth $359,276,000 after acquiring an additional 1,820,877 shares during the last quarter. PFA Pension Forsikringsaktieselskab bought a new position in shares of Consolidated Edison in the fourth quarter worth about $113,977,000. Finally, AQR Capital Management LLC lifted its position in shares of Consolidated Edison by 104.6% during the third quarter. AQR Capital Management LLC now owns 1,905,678 shares of the utilities provider’s stock worth $190,530,000 after purchasing an additional 974,419 shares in the last quarter. Institutional investors own 66.29% of the company’s stock.

Wall Street Analyst Weigh In

ED has been the topic of several research analyst reports. Wells Fargo & Company set a $98.00 price target on shares of Consolidated Edison in a research note on Tuesday, April 21st. Morgan Stanley reissued an “underweight” rating on shares of Consolidated Edison in a research note on Wednesday. Barclays cut their price target on Consolidated Edison from $110.00 to $107.00 and set an “underweight” rating on the stock in a research note on Monday, May 11th. Weiss Ratings restated a “buy (b)” rating on shares of Consolidated Edison in a report on Tuesday. Finally, Evercore set a $116.00 target price on shares of Consolidated Edison in a report on Monday, May 11th. Two analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and six have given a Sell rating to the stock. According to MarketBeat.com, Consolidated Edison presently has an average rating of “Reduce” and a consensus price target of $107.87.

Consolidated Edison Stock Performance

Shares of ED stock opened at $112.97 on Friday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.09 and a current ratio of 1.19. The company has a market capitalization of $41.63 billion, a P/E ratio of 19.02, a price-to-earnings-growth ratio of 2.93 and a beta of 0.27. The company’s 50 day moving average price is $109.04 and its two-hundred day moving average price is $109.01. Consolidated Edison Inc has a 52 week low of $94.96 and a 52 week high of $116.23.

Consolidated Edison Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Wednesday, August 19th will be issued a dividend of $0.8875 per share. This represents a $3.55 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Wednesday, August 19th. Consolidated Edison’s dividend payout ratio (DPR) is presently 59.76%.

Consolidated Edison Profile

Consolidated Edison, Inc, commonly known as Con Edison, is an investor-owned energy company that primarily delivers electricity, natural gas and steam to customers in the New York metropolitan area. Its regulated utility operations include the distribution and transmission of electric power, the distribution of natural gas, and the operation of one of the largest district steam systems in the United States, serving commercial, institutional and residential customers in New York City and nearby counties.

The company operates through regulated utility subsidiaries that serve urban and suburban service territories, together with non-utility businesses that develop, own and manage energy infrastructure and clean energy projects.