Consolidated Edison Inc $ED Holdings Reduced by Groupama Asset Managment

Groupama Asset Managment lowered its position in Consolidated Edison Inc (NYSE:ED) by 68.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,692 shares of the utilities provider’s stock after selling 14,720 shares during the quarter. Groupama Asset Managment’s holdings in Consolidated Edison were worth $757,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Sachetta LLC grew its holdings in Consolidated Edison by 72.9% in the 1st quarter. Sachetta LLC now owns 242 shares of the utilities provider’s stock worth $27,000 after buying an additional 102 shares in the last quarter. JPL Wealth Management LLC acquired a new stake in Consolidated Edison in the 3rd quarter valued at approximately $26,000. Basepoint Wealth LLC bought a new stake in Consolidated Edison during the 4th quarter valued at $26,000. Westfuller Advisors LLC bought a new stake in Consolidated Edison during the 4th quarter valued at $27,000. Finally, WealthCollab LLC raised its stake in Consolidated Edison by 68.4% during the 4th quarter. WealthCollab LLC now owns 315 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 128 shares in the last quarter. Institutional investors own 66.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on ED shares. Morgan Stanley reissued an “underweight” rating on shares of Consolidated Edison in a research note on Wednesday, July 22nd. Mizuho set a $114.00 price objective on shares of Consolidated Edison in a research note on Monday, July 27th. KeyCorp reduced their price objective on shares of Consolidated Edison from $97.00 to $94.00 and set an “underweight” rating for the company in a report on Thursday, July 23rd. Wells Fargo & Company set a $98.00 target price on shares of Consolidated Edison in a research report on Tuesday, April 21st. Finally, Barclays lowered their target price on shares of Consolidated Edison from $110.00 to $107.00 and set an “underweight” rating on the stock in a research note on Monday, May 11th. Two equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and six have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $108.47.

Consolidated Edison Stock Performance

Shares of NYSE ED opened at $108.98 on Monday. Consolidated Edison Inc has a 1 year low of $94.96 and a 1 year high of $116.23. The firm has a market cap of $40.16 billion, a P/E ratio of 18.35, a PEG ratio of 2.82 and a beta of 0.27. The stock has a fifty day moving average price of $109.39 and a two-hundred day moving average price of $109.49. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.09 and a current ratio of 1.19.

Consolidated Edison Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Wednesday, August 19th will be issued a $0.8875 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $3.55 annualized dividend and a dividend yield of 3.3%. Consolidated Edison’s dividend payout ratio is 59.76%.

About Consolidated Edison

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.