Moody National Bank Trust Division Invests $314,000 in Consolidated Edison, Inc. (NYSE:ED)

Moody National Bank Trust Division bought a new stake in Consolidated Edison, Inc. (NYSE:EDGet Rating) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 3,305 shares of the utilities provider’s stock, valued at approximately $314,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of ED. BlackRock Inc. grew its holdings in Consolidated Edison by 20.1% during the fourth quarter. BlackRock Inc. now owns 45,413,132 shares of the utilities provider’s stock worth $3,874,649,000 after purchasing an additional 7,590,978 shares during the period. Vanguard Group Inc. grew its holdings in Consolidated Edison by 18.0% during the first quarter. Vanguard Group Inc. now owns 41,690,313 shares of the utilities provider’s stock worth $3,947,238,000 after purchasing an additional 6,349,773 shares during the period. Norges Bank bought a new position in Consolidated Edison during the fourth quarter worth about $247,998,000. State Street Corp grew its holdings in Consolidated Edison by 4.4% during the first quarter. State Street Corp now owns 28,573,910 shares of the utilities provider’s stock worth $2,705,378,000 after purchasing an additional 1,209,292 shares during the period. Finally, Eaton Vance Management grew its holdings in Consolidated Edison by 661.0% during the fourth quarter. Eaton Vance Management now owns 661,971 shares of the utilities provider’s stock worth $56,009,000 after purchasing an additional 574,979 shares during the period. Institutional investors own 64.76% of the company’s stock.

Wall Street Analysts Forecast Growth

ED has been the subject of several research reports. KeyCorp raised their price objective on shares of Consolidated Edison from $72.00 to $75.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 19th. Guggenheim upgraded shares of Consolidated Edison from a “sell” rating to a “neutral” rating and set a $94.00 price objective for the company in a research report on Monday, May 23rd. Credit Suisse Group raised their price objective on shares of Consolidated Edison from $92.00 to $94.00 and gave the stock a “neutral” rating in a research report on Monday, August 8th. Mizuho cut their price objective on shares of Consolidated Edison from $100.00 to $99.00 and set a “buy” rating for the company in a research report on Monday, June 27th. Finally, Morgan Stanley raised their price objective on shares of Consolidated Edison from $77.00 to $84.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 23rd. Five research analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $86.00.

Consolidated Edison Stock Up 1.1 %

NYSE ED opened at $98.47 on Tuesday. Consolidated Edison, Inc. has a 1-year low of $71.52 and a 1-year high of $102.21. The company has a market cap of $34.92 billion, a price-to-earnings ratio of 21.32, a PEG ratio of 10.87 and a beta of 0.25. The company has a current ratio of 0.88, a quick ratio of 0.82 and a debt-to-equity ratio of 1.08. The company has a 50 day moving average of $97.47 and a 200-day moving average of $95.28.

Consolidated Edison (NYSE:EDGet Rating) last announced its quarterly earnings data on Thursday, August 4th. The utilities provider reported $0.64 EPS for the quarter, beating the consensus estimate of $0.55 by $0.09. Consolidated Edison had a net margin of 11.16% and a return on equity of 7.83%. During the same quarter in the prior year, the company earned $0.53 earnings per share. On average, equities research analysts expect that Consolidated Edison, Inc. will post 4.48 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Wednesday, August 17th were given a dividend of $0.79 per share. The ex-dividend date was Tuesday, August 16th. This represents a $3.16 annualized dividend and a yield of 3.21%. Consolidated Edison’s dividend payout ratio is currently 69.15%.

About Consolidated Edison

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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 3.5 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 1,555 customers in parts of Manhattan.

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Institutional Ownership by Quarter for Consolidated Edison (NYSE:ED)

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