Oppenheimer & Co. Inc. Has $1.59 Million Stock Position in Consolidated Edison Inc $ED

Oppenheimer & Co. Inc. lessened its holdings in Consolidated Edison Inc (NYSE:ED) by 24.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,814 shares of the utilities provider’s stock after selling 5,001 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Consolidated Edison were worth $1,590,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Consolidated Edison by 4.5% in the 2nd quarter. Vanguard Group Inc. now owns 45,040,811 shares of the utilities provider’s stock valued at $4,519,845,000 after buying an additional 1,923,717 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Consolidated Edison by 6.1% in the 2nd quarter. Geode Capital Management LLC now owns 9,796,782 shares of the utilities provider’s stock valued at $979,204,000 after acquiring an additional 566,358 shares in the last quarter. Norges Bank acquired a new stake in shares of Consolidated Edison in the second quarter valued at about $462,218,000. ATLAS Infrastructure Partners UK Ltd. raised its holdings in Consolidated Edison by 4.8% during the second quarter. ATLAS Infrastructure Partners UK Ltd. now owns 2,409,288 shares of the utilities provider’s stock worth $241,772,000 after acquiring an additional 110,666 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Consolidated Edison by 4.6% during the second quarter. Charles Schwab Investment Management Inc. now owns 2,376,237 shares of the utilities provider’s stock valued at $238,455,000 after purchasing an additional 104,643 shares during the last quarter. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Price Performance

NYSE:ED opened at $113.59 on Friday. The company has a market cap of $41.00 billion, a P/E ratio of 19.86, a P/E/G ratio of 3.04 and a beta of 0.38. The firm’s fifty day moving average price is $102.16 and its two-hundred day moving average price is $100.62. Consolidated Edison Inc has a one year low of $94.50 and a one year high of $114.87. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.08 and a quick ratio of 0.97.

Consolidated Edison Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Wednesday, February 18th will be issued a $0.8875 dividend. The ex-dividend date of this dividend is Wednesday, February 18th. This represents a $3.55 annualized dividend and a yield of 3.1%. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.85. Consolidated Edison’s payout ratio is currently 62.06%.

Insider Transactions at Consolidated Edison

In other news, Director John F. Killian sold 2,276 shares of the business’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $96.89, for a total transaction of $220,521.64. Following the completion of the sale, the director owned 38,661 shares in the company, valued at $3,745,864.29. The trade was a 5.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.19% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ED. UBS Group boosted their price target on Consolidated Edison from $108.00 to $112.00 and gave the stock a “neutral” rating in a research report on Friday, January 23rd. KeyCorp lowered their target price on shares of Consolidated Edison from $90.00 to $86.00 and set an “underweight” rating on the stock in a report on Friday, December 12th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $118.00 price target on shares of Consolidated Edison in a research report on Friday, January 23rd. JPMorgan Chase & Co. decreased their price objective on shares of Consolidated Edison from $101.00 to $97.00 and set an “underweight” rating for the company in a research report on Friday, December 12th. Finally, TD Cowen started coverage on shares of Consolidated Edison in a report on Friday, January 9th. They issued a “hold” rating and a $105.00 target price on the stock. Three investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and five have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Consolidated Edison has a consensus rating of “Reduce” and a consensus price target of $104.20.

Consolidated Edison Company 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.