BNP PARIBAS ASSET MANAGEMENT Holding S.A. Has $16.32 Million Position in Consolidated Edison, Inc. (NYSE:ED)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. lowered its holdings in Consolidated Edison, Inc. (NYSE:ED) by 59.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 156,762 shares of the utilities provider’s stock after selling 225,568 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Consolidated Edison were worth $16,324,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Capital Performance Advisors LLP acquired a new position in Consolidated Edison during the third quarter worth $27,000. Ashton Thomas Securities LLC acquired a new stake in shares of Consolidated Edison during the 3rd quarter worth about $30,000. Beacon Capital Management LLC increased its position in shares of Consolidated Edison by 2,307.7% during the 1st quarter. Beacon Capital Management LLC now owns 313 shares of the utilities provider’s stock worth $28,000 after purchasing an additional 300 shares in the last quarter. Pathway Financial Advisers LLC bought a new position in Consolidated Edison during the 1st quarter valued at about $33,000. Finally, TruNorth Capital Management LLC acquired a new position in Consolidated Edison in the second quarter valued at about $33,000. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Price Performance

Shares of ED stock opened at $98.36 on Friday. The firm’s 50 day moving average price is $102.01 and its two-hundred day moving average price is $98.08. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01. Consolidated Edison, Inc. has a 52-week low of $85.85 and a 52-week high of $107.75. The stock has a market cap of $34.07 billion, a PE ratio of 18.52, a PEG ratio of 3.32 and a beta of 0.36.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings results on Thursday, November 7th. The utilities provider reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.56 by $0.12. The business had revenue of $4.09 billion for the quarter, compared to analyst estimates of $4.02 billion. Consolidated Edison had a return on equity of 8.70% and a net margin of 12.27%. As a group, analysts forecast that Consolidated Edison, Inc. will post 5.33 EPS for the current year.

Consolidated Edison Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Wednesday, November 13th will be given a dividend of $0.83 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.38%. Consolidated Edison’s dividend payout ratio is 62.52%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Bank of America lifted their target price on shares of Consolidated Edison from $97.00 to $109.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Barclays cut their price objective on Consolidated Edison from $104.00 to $99.00 and set an “underweight” rating for the company in a research report on Friday, November 8th. Guggenheim increased their target price on Consolidated Edison from $88.00 to $91.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Evercore ISI raised Consolidated Edison from a “hold” rating to a “strong-buy” rating in a report on Friday, November 8th. Finally, UBS Group upped their price target on shares of Consolidated Edison from $105.00 to $106.00 and gave the stock a “neutral” rating in a research report on Friday, September 20th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $98.19.

Consolidated Edison Profile

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.