Consolidated Edison Inc $ED Stock Holdings Decreased by Renaissance Technologies LLC

Renaissance Technologies LLC lessened its stake in Consolidated Edison Inc (NYSE:ED) by 63.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 141,100 shares of the utilities provider’s stock after selling 247,600 shares during the quarter. Renaissance Technologies LLC’s holdings in Consolidated Edison were worth $15,970,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Basepoint Wealth LLC acquired a new position in Consolidated Edison in the fourth quarter worth about $26,000. JPL Wealth Management LLC acquired a new stake in Consolidated Edison during the third quarter valued at approximately $26,000. Westfuller Advisors LLC bought a new position in Consolidated Edison during the 4th quarter worth approximately $27,000. Sachetta LLC grew its position in shares of 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 acquiring an additional 102 shares in the last quarter. Finally, Dorato Capital Management acquired a new position in shares of Consolidated Edison in the 4th quarter worth approximately $28,000. Institutional investors own 66.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company set a $98.00 price target on Consolidated Edison in a report on Tuesday, April 21st. Evercore set a $116.00 price objective on shares of Consolidated Edison in a report on Monday, May 11th. The Goldman Sachs Group reaffirmed a “sell” rating and issued a $105.00 price objective on shares of Consolidated Edison in a report on Thursday, May 14th. KeyCorp lowered their target price on shares of Consolidated Edison from $97.00 to $94.00 and set an “underweight” rating for the company in a research note on Thursday, July 23rd. Finally, Mizuho set a $114.00 target price on shares of Consolidated Edison in a report on Monday. Two equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and six have assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $108.47.

Consolidated Edison Stock Down 0.6%

Shares of Consolidated Edison stock opened at $108.98 on Friday. The company has a current ratio of 1.19, a quick ratio of 1.09 and a debt-to-equity ratio of 1.00. The business’s 50 day simple moving average is $109.39 and its 200-day simple moving average is $109.42. The stock has a market capitalization of $40.16 billion, a price-to-earnings ratio of 18.35, a PEG ratio of 2.85 and a beta of 0.27. Consolidated Edison Inc has a twelve month low of $94.96 and a twelve month high of $116.23.

Consolidated Edison Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Wednesday, August 19th will be given a $0.8875 dividend. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $3.55 annualized dividend and a yield of 3.3%. Consolidated Edison’s dividend payout ratio (DPR) is currently 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.