Van ECK Associates Corp Buys 2,681 Shares of Consolidated Edison, Inc. (NYSE:ED)

Van ECK Associates Corp raised its stake in Consolidated Edison, Inc. (NYSE:ED) by 2.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 95,927 shares of the utilities provider’s stock after acquiring an additional 2,681 shares during the period. Van ECK Associates Corp’s holdings in Consolidated Edison were worth $10,303,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in ED. Pathway Financial Advisers LLC increased its holdings in shares of Consolidated Edison by 10,302.6% in the 3rd quarter. Pathway Financial Advisers LLC now owns 24,446 shares of the utilities provider’s stock worth $2,546,000 after buying an additional 24,211 shares during the last quarter. Sei Investments Co. increased its stake 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 acquiring an additional 89,080 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position 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 valued at $22,321,000 after purchasing an additional 148,988 shares during the period. Mizuho Markets Americas LLC lifted its stake in shares of Consolidated Edison by 121.1% in the 1st quarter. Mizuho Markets Americas LLC now owns 113,675 shares of the utilities provider’s stock valued at $10,323,000 after purchasing an additional 62,260 shares during the last quarter. Finally, Plato Investment Management Ltd boosted 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 purchasing an additional 9,903 shares during the period. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

Consolidated Edison Price Performance

ED opened at $98.96 on Thursday. 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 business’s fifty day simple moving average is $103.48 and its 200-day simple moving average is $97.85. The company has a market capitalization of $34.26 billion, a price-to-earnings ratio of 19.25, a PEG ratio of 3.37 and a beta of 0.36. Consolidated Edison, Inc. has a 12-month low of $85.85 and a 12-month high of $107.75.

Consolidated Edison Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Wednesday, November 13th will be paid a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date is Wednesday, November 13th. Consolidated Edison’s dividend payout ratio (DPR) is 64.59%.

Analyst Ratings Changes

A number of brokerages recently issued reports on ED. Wells Fargo & Company raised their price target on Consolidated Edison from $97.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. Jefferies Financial Group assumed coverage on shares of Consolidated Edison in a report on Wednesday, October 9th. They issued a “hold” rating and a $108.00 target price for the company. Guggenheim upped their price target on shares of Consolidated Edison from $88.00 to $91.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Scotiabank increased their price objective on shares of Consolidated Edison from $85.00 to $90.00 and gave the stock a “sector underperform” rating in a research report on Tuesday, August 20th. Finally, Barclays boosted their target price on Consolidated Edison from $98.00 to $104.00 and gave the company an “underweight” rating in a research report on Monday, October 21st. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $98.73.

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.