B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund Has $14.84 Million Position in Consolidated Edison, Inc. (NYSE:ED)

B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund increased its position in Consolidated Edison, Inc. (NYSE:ED) by 75.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 175,000 shares of the utilities provider’s stock after buying an additional 75,000 shares during the quarter. Consolidated Edison accounts for approximately 2.6% of B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund’s holdings, making the stock its 14th biggest holding. B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund’s holdings in Consolidated Edison were worth $14,842,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of ED. OLD National Bancorp IN increased its position in Consolidated Edison by 0.5% during the 1st quarter. OLD National Bancorp IN now owns 29,556 shares of the utilities provider’s stock valued at $2,506,000 after purchasing an additional 136 shares during the period. Girard Partners LTD. increased its position in Consolidated Edison by 3.8% during the 4th quarter. Girard Partners LTD. now owns 4,120 shares of the utilities provider’s stock valued at $315,000 after purchasing an additional 151 shares during the period. Kaizen Advisory LLC increased its position in Consolidated Edison by 21.3% during the 4th quarter. Kaizen Advisory LLC now owns 867 shares of the utilities provider’s stock valued at $66,000 after purchasing an additional 152 shares during the period. CIBC Private Wealth Group LLC increased its position in Consolidated Edison by 0.6% during the 4th quarter. CIBC Private Wealth Group LLC now owns 31,955 shares of the utilities provider’s stock valued at $2,443,000 after purchasing an additional 176 shares during the period. Finally, JOYN Advisors Inc. increased its position in Consolidated Edison by 9.9% during the 4th quarter. JOYN Advisors Inc. now owns 2,069 shares of the utilities provider’s stock valued at $158,000 after purchasing an additional 186 shares during the period. 59.44% of the stock is currently owned by institutional investors.

A number of research analysts have issued reports on the stock. Zacks Investment Research downgraded shares of Consolidated Edison from a “buy” rating to a “hold” rating in a research report on Monday, February 25th. Mizuho assumed coverage on shares of Consolidated Edison in a research report on Monday, March 11th. They set a “neutral” rating and a $85.00 price objective on the stock. Morgan Stanley boosted their price objective on shares of Consolidated Edison from $86.00 to $87.00 and gave the company an “underweight” rating in a research report on Thursday, May 16th. Bank of America raised shares of Consolidated Edison from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $96.00 to $94.00 in a research report on Friday, April 26th. They noted that the move was a valuation call. Finally, Credit Suisse Group boosted their price objective on shares of Consolidated Edison from $77.00 to $78.00 and gave the company an “underperform” rating in a research report on Monday, February 25th. Five research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. Consolidated Edison has an average rating of “Hold” and a consensus price target of $79.26.

Shares of ED stock opened at $88.54 on Monday. Consolidated Edison, Inc. has a 12 month low of $72.63 and a 12 month high of $90.51. The firm has a market cap of $28.96 billion, a PE ratio of 20.50, a price-to-earnings-growth ratio of 10.12 and a beta of 0.13. The company has a current ratio of 0.60, a quick ratio of 0.54 and a debt-to-equity ratio of 1.01.

Consolidated Edison (NYSE:ED) last announced its earnings results on Thursday, May 2nd. The utilities provider reported $1.39 EPS for the quarter, beating the Zacks’ consensus estimate of $1.35 by $0.04. Consolidated Edison had a net margin of 11.03% and a return on equity of 8.31%. The firm had revenue of $3.51 billion for the quarter, compared to analysts’ expectations of $3.39 billion. During the same quarter in the previous year, the business posted $1.38 EPS. As a group, analysts expect that Consolidated Edison, Inc. will post 4.38 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Wednesday, May 15th will be issued a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date of this dividend is Tuesday, May 14th. Consolidated Edison’s dividend payout ratio (DPR) is presently 68.52%.

WARNING: “B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund Has $14.84 Million Position in Consolidated Edison, Inc. (NYSE:ED)” was first posted by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are reading this news story on another website, it was illegally stolen and reposted in violation of US and international copyright laws. The legal version of this news story can be accessed at https://www.dispatchtribunal.com/2019/06/17/b-s-pension-fund-trustee-ltd-acting-for-the-british-steel-pension-fund-has-14-84-million-position-in-consolidated-edison-inc-nyseed.html.

Consolidated Edison Company Profile

Consolidated Edison, Inc, through its subsidiaries, engages in regulated electric, gas, and steam delivery businesses in the United States. The company offers electric services to approximately 3.5 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 1,622 customers in parts of Manhattan.

Read More: What is dollar cost averaging (DCA)?

Want to see what other hedge funds are holding ED? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Consolidated Edison, Inc. (NYSE:ED).

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

Receive News & Ratings for Consolidated Edison Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Consolidated Edison and related companies with MarketBeat.com's FREE daily email newsletter.