Park National Corp OH trimmed its position in shares of Consolidated Edison, Inc. (NYSE:ED) by 68.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,690 shares of the utilities provider’s stock after selling 16,602 shares during the period. Park National Corp OH’s holdings in Consolidated Edison were worth $600,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Legal & General Group Plc grew its stake in Consolidated Edison by 3.8% during the first quarter. Legal & General Group Plc now owns 3,094,166 shares of the utilities provider’s stock worth $241,174,000 after buying an additional 113,375 shares in the last quarter. Renaissance Technologies LLC grew its stake in Consolidated Edison by 40.7% during the fourth quarter. Renaissance Technologies LLC now owns 2,099,400 shares of the utilities provider’s stock worth $178,344,000 after buying an additional 607,000 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its stake in Consolidated Edison by 13.1% during the first quarter. Robeco Institutional Asset Management B.V. now owns 1,545,346 shares of the utilities provider’s stock worth $120,441,000 after buying an additional 179,064 shares in the last quarter. Royal Bank of Canada grew its stake in Consolidated Edison by 5.5% during the first quarter. Royal Bank of Canada now owns 1,278,754 shares of the utilities provider’s stock worth $99,668,000 after buying an additional 66,172 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its stake in Consolidated Edison by 4.0% during the first quarter. Schwab Charles Investment Management Inc. now owns 1,164,857 shares of the utilities provider’s stock worth $90,789,000 after buying an additional 44,631 shares in the last quarter. Hedge funds and other institutional investors own 57.08% of the company’s stock.

ED opened at $78.46 on Wednesday. Consolidated Edison, Inc. has a 1-year low of $71.12 and a 1-year high of $89.70. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.61 and a current ratio of 0.67. The company has a market capitalization of $24.34 billion, a PE ratio of 18.56, a P/E/G ratio of 4.60 and a beta of 0.07.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings results on Thursday, May 3rd. The utilities provider reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates of $1.33 by $0.05. Consolidated Edison had a net margin of 12.86% and a return on equity of 8.61%. The company had revenue of $3.36 billion for the quarter, compared to the consensus estimate of $3.23 billion. During the same period last year, the company posted $1.27 EPS. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. analysts expect that Consolidated Edison, Inc. will post 4.26 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, June 15th. Stockholders of record on Wednesday, May 16th were paid a $0.715 dividend. The ex-dividend date was Tuesday, May 15th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 3.65%. Consolidated Edison’s payout ratio is currently 69.93%.

A number of equities research analysts have issued reports on the stock. ValuEngine upgraded shares of Consolidated Edison from a “sell” rating to a “hold” rating in a research note on Tuesday, June 26th. Zacks Investment Research upgraded shares of Consolidated Edison from a “sell” rating to a “hold” rating in a research note on Wednesday, May 2nd. Morgan Stanley reduced their price objective on shares of Consolidated Edison from $75.00 to $71.00 and set an “underweight” rating on the stock in a research note on Wednesday, June 13th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Consolidated Edison from $75.00 to $78.00 and gave the stock a “sell” rating in a research note on Tuesday, April 10th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $81.94.

Consolidated Edison Profile

Consolidated Edison, Inc (Con Edison) is a holding company. The Company operates through its subsidiaries, which include Consolidated Edison Company of New York, Inc (CECONY), Orange and Rockland Utilities, Inc (O&R), Con Edison Clean Energy Businesses, Inc (the Clean Energy Businesses) and Con Edison Transmission, Inc (Con Edison Transmission).

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

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