Consolidated Edison, Inc. (NYSE:ED) Shares Acquired by AGF Management Ltd.

AGF Management Ltd. boosted its holdings in Consolidated Edison, Inc. (NYSE:ED) by 18.7% in the second quarter, HoldingsChannel.com reports. The firm owned 31,751 shares of the utilities provider’s stock after acquiring an additional 5,005 shares during the period. AGF Management Ltd.’s holdings in Consolidated Edison were worth $2,839,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in the business. Beacon Capital Management LLC boosted its holdings in shares of Consolidated Edison by 2,307.7% in the 1st quarter. Beacon Capital Management LLC now owns 313 shares of the utilities provider’s stock valued at $28,000 after buying an additional 300 shares during the period. Tidemark LLC bought a new position in Consolidated Edison in the fourth quarter worth about $29,000. Raleigh Capital Management Inc. bought a new position in shares of Consolidated Edison during the fourth quarter valued at approximately $29,000. Atlantic Edge Private Wealth Management LLC acquired a new stake in shares of Consolidated Edison during the 4th quarter worth approximately $33,000. Finally, Pathway Financial Advisers LLC acquired a new stake in shares of Consolidated Edison during the 1st quarter worth approximately $33,000. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Trading Down 0.4 %

Consolidated Edison stock opened at $103.38 on Friday. Consolidated Edison, Inc. has a 12-month low of $80.46 and a 12-month high of $105.99. The stock has a market capitalization of $35.75 billion, a PE ratio of 19.84, a price-to-earnings-growth ratio of 3.49 and a beta of 0.36. The firm has a 50 day simple moving average of $98.42 and a 200-day simple moving average of $93.92. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.04 and a quick ratio of 0.97.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02. Consolidated Edison had a return on equity of 8.67% and a net margin of 12.03%. The firm had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.08 billion. During the same period last year, the company posted $0.61 EPS. As a group, equities research analysts expect that Consolidated Edison, Inc. will post 5.31 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Wednesday, August 14th will be issued a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date of this dividend is Wednesday, August 14th. Consolidated Edison’s payout ratio is currently 63.72%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Guggenheim upped their price objective on Consolidated Edison from $88.00 to $91.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Mizuho boosted their price target on shares of Consolidated Edison from $93.00 to $95.00 and gave the company a “neutral” rating in a report on Tuesday, May 28th. UBS Group increased their price objective on shares of Consolidated Edison from $92.00 to $96.00 and gave the stock a “neutral” rating in a report on Friday, July 19th. Barclays boosted their target price on shares of Consolidated Edison from $92.00 to $98.00 and gave the company an “underweight” rating in a research note on Monday, August 5th. Finally, Argus upgraded shares of Consolidated Edison to a “strong-buy” rating in a research report on Friday, June 7th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Consolidated Edison has a consensus rating of “Hold” and an average price target of $92.65.

About Consolidated Edison

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.