Eqis Capital Management Inc. Acquires 869 Shares of Consolidated Edison, Inc. (NYSE:ED)

Eqis Capital Management Inc. raised its position in Consolidated Edison, Inc. (NYSE:ED) by 19.5% during the third quarter, according to its most recent filing with the SEC. The firm owned 5,319 shares of the utilities provider’s stock after purchasing an additional 869 shares during the period. Eqis Capital Management Inc.’s holdings in Consolidated Edison were worth $414,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in the stock. TD Asset Management Inc. increased its stake in Consolidated Edison by 16.1% during the 3rd quarter. TD Asset Management Inc. now owns 339,880 shares of the utilities provider’s stock valued at $26,443,000 after purchasing an additional 47,058 shares in the last quarter. Payden & Rygel increased its stake in Consolidated Edison by 5.1% during the 3rd quarter. Payden & Rygel now owns 232,600 shares of the utilities provider’s stock valued at $18,096,000 after purchasing an additional 11,300 shares in the last quarter. Fifth Third Bancorp increased its stake in Consolidated Edison by 22.2% during the 3rd quarter. Fifth Third Bancorp now owns 16,789 shares of the utilities provider’s stock valued at $1,306,000 after purchasing an additional 3,052 shares in the last quarter. Sun Life Financial INC increased its stake in Consolidated Edison by 4.1% during the 3rd quarter. Sun Life Financial INC now owns 6,486 shares of the utilities provider’s stock valued at $505,000 after purchasing an additional 253 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in Consolidated Edison by 7.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 366,396 shares of the utilities provider’s stock valued at $28,506,000 after purchasing an additional 26,423 shares in the last quarter. Institutional investors own 56.36% of the company’s stock.

Shares of NYSE ED opened at $77.39 on Friday. Consolidated Edison, Inc. has a one year low of $62.03 and a one year high of $95.10. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.59 and a quick ratio of 0.54. The firm’s 50 day simple moving average is $80.64 and its two-hundred day simple moving average is $75.34. The stock has a market capitalization of $25.91 billion, a P/E ratio of 19.16, a PEG ratio of 9.79 and a beta of 0.16.

Consolidated Edison (NYSE:ED) last issued its earnings results on Thursday, November 5th. The utilities provider reported $1.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.51 by ($0.03). Consolidated Edison had a return on equity of 7.77% and a net margin of 11.06%. During the same quarter in the prior year, the firm posted $1.54 earnings per share. As a group, equities analysts expect that Consolidated Edison, Inc. will post 4.22 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Wednesday, November 18th will be issued a $0.765 dividend. This represents a $3.06 annualized dividend and a dividend yield of 3.95%. The ex-dividend date of this dividend is Tuesday, November 17th. Consolidated Edison’s dividend payout ratio is 70.02%.

ED has been the subject of several recent analyst reports. Barclays upped their target price on shares of Consolidated Edison from $74.00 to $83.00 and gave the stock an “underweight” rating in a research note on Wednesday. The Goldman Sachs Group lowered shares of Consolidated Edison from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $86.00 to $78.00 in a research note on Monday, October 19th. Morgan Stanley upped their target price on shares of Consolidated Edison from $79.00 to $82.00 and gave the stock an “underweight” rating in a research note on Tuesday, November 17th. Bank of America lowered shares of Consolidated Edison from a “buy” rating to a “neutral” rating and set a $82.00 target price for the company. in a research note on Thursday, October 15th. Finally, Guggenheim upgraded shares of Consolidated Edison from a “sell” rating to a “neutral” rating and set a $73.00 price target for the company in a research report on Monday, September 14th. Four analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $80.11.

Consolidated Edison Profile

Consolidated Edison, Inc, through its subsidiaries, engages in regulated electric, gas, and steam delivery businesses in the United States. The company 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 1,589 customers in parts of Manhattan.

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

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