Consolidated Edison Inc $ED Shares Purchased by Sei Investments Co.

Sei Investments Co. boosted its holdings in Consolidated Edison Inc (NYSE:ED) by 21.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 284,415 shares of the utilities provider’s stock after acquiring an additional 49,816 shares during the period. Sei Investments Co.’s holdings in Consolidated Edison were worth $32,190,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Lazard Asset Management LLC raised its position in Consolidated Edison by 121,543.9% in the third quarter. Lazard Asset Management LLC now owns 5,960,553 shares of the utilities provider’s stock valued at $599,155,000 after purchasing an additional 5,955,653 shares during the period. Norges Bank purchased a new position in shares of Consolidated Edison during the 4th quarter worth $489,806,000. Deutsche Bank AG increased its position in shares of Consolidated Edison by 101.4% during the 4th quarter. Deutsche Bank AG now owns 3,617,361 shares of the utilities provider’s stock worth $359,276,000 after purchasing an additional 1,820,877 shares during the last quarter. PFA Pension Forsikringsaktieselskab acquired a new stake in shares of Consolidated Edison during the 4th quarter worth about $113,977,000. Finally, AQR Capital Management LLC raised its holdings in Consolidated Edison by 104.6% in the 3rd quarter. AQR Capital Management LLC now owns 1,905,678 shares of the utilities provider’s stock valued at $190,530,000 after buying an additional 974,419 shares during the period. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ED has been the subject of several research analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Consolidated Edison in a research note on Tuesday, July 21st. KeyCorp lowered their price objective on shares of Consolidated Edison from $97.00 to $94.00 and set an “underweight” rating for the company in a research report on Thursday, July 23rd. Evercore set a $116.00 target price on Consolidated Edison in a research report on Monday, May 11th. Wells Fargo & Company set a $98.00 price target on Consolidated Edison in a research note on Tuesday, April 21st. Finally, Argus set a $112.00 price objective on Consolidated Edison in a research note on Tuesday, June 23rd. Two investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and six have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $108.47.

Consolidated Edison Trading Down 1.3%

NYSE ED opened at $111.50 on Tuesday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.09 and a current ratio of 1.19. The firm has a market cap of $41.09 billion, a price-to-earnings ratio of 18.77, a PEG ratio of 2.93 and a beta of 0.27. The firm has a 50 day simple moving average of $109.14 and a 200-day simple moving average of $109.17. Consolidated Edison Inc has a one year low of $94.96 and a one year high of $116.23.

Consolidated Edison Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Wednesday, August 19th will be issued a dividend of $0.8875 per share. The ex-dividend date is Wednesday, August 19th. This represents a $3.55 dividend on an annualized basis and a yield of 3.2%. Consolidated Edison’s dividend payout ratio is 59.76%.

Consolidated Edison Company Profile

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.