Citigroup Inc. Has $54.89 Million Stake in Consolidated Edison, Inc. (NYSE:ED)

Citigroup Inc. boosted its stake in shares of Consolidated Edison, Inc. (NYSE:EDFree Report) by 24.2% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 641,735 shares of the utilities provider’s stock after buying an additional 125,091 shares during the quarter. Citigroup Inc. owned approximately 0.19% of Consolidated Edison worth $54,888,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in ED. Skandinaviska Enskilda Banken AB publ lifted its holdings in Consolidated Edison by 1.5% during the third quarter. Skandinaviska Enskilda Banken AB publ now owns 63,041 shares of the utilities provider’s stock valued at $5,392,000 after purchasing an additional 942 shares during the last quarter. Blair William & Co. IL lifted its holdings in Consolidated Edison by 7.8% during the third quarter. Blair William & Co. IL now owns 30,695 shares of the utilities provider’s stock valued at $2,625,000 after purchasing an additional 2,220 shares during the last quarter. Headlands Technologies LLC purchased a new stake in Consolidated Edison during the third quarter valued at about $278,000. Jupiter Asset Management Ltd. lifted its holdings in Consolidated Edison by 0.8% during the third quarter. Jupiter Asset Management Ltd. now owns 540,758 shares of the utilities provider’s stock valued at $46,251,000 after purchasing an additional 4,315 shares during the last quarter. Finally, Herold Advisors Inc. lifted its holdings in Consolidated Edison by 6.1% during the third quarter. Herold Advisors Inc. now owns 18,665 shares of the utilities provider’s stock valued at $1,597,000 after purchasing an additional 1,069 shares during the last quarter. Institutional investors own 64.53% of the company’s stock.

Consolidated Edison Trading Up 0.4 %

Shares of ED opened at $89.06 on Monday. The firm’s 50 day simple moving average is $90.96 and its 200 day simple moving average is $89.92. The company has a market capitalization of $30.75 billion, a P/E ratio of 13.19, a P/E/G ratio of 8.42 and a beta of 0.37. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.98 and a quick ratio of 0.91. Consolidated Edison, Inc. has a 1-year low of $80.46 and a 1-year high of $100.92.

Consolidated Edison Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Shareholders of record on Wednesday, February 14th will be given a dividend of $0.83 per share. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.81. This represents a $3.32 dividend on an annualized basis and a yield of 3.73%. The ex-dividend date of this dividend is Tuesday, February 13th. Consolidated Edison’s dividend payout ratio (DPR) is presently 48.00%.

Analysts Set New Price Targets

Several research firms have commented on ED. JPMorgan Chase & Co. upped their price objective on shares of Consolidated Edison from $84.00 to $87.00 and gave the company an “underweight” rating in a report on Wednesday, November 29th. LADENBURG THALM/SH SH initiated coverage on shares of Consolidated Edison in a report on Wednesday, January 3rd. They issued a “neutral” rating and a $92.50 price target on the stock. Wells Fargo & Company raised shares of Consolidated Edison from an “underweight” rating to an “equal weight” rating and lowered their price target for the stock from $96.00 to $94.00 in a report on Tuesday, October 17th. Morgan Stanley increased their price target on shares of Consolidated Edison from $71.00 to $73.00 and gave the stock an “underweight” rating in a report on Tuesday, November 21st. Finally, Barclays lowered their price target on shares of Consolidated Edison from $88.00 to $86.00 and set an “equal weight” rating on the stock in a report on Monday, January 22nd. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $88.46.

View Our Latest Report on Consolidated Edison

About Consolidated Edison

(Free Report)

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 3.6 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.

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

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