Truist Financial Corp Boosts Holdings in Consolidated Edison, Inc. (NYSE:ED)

Truist Financial Corp boosted its position in shares of Consolidated Edison, Inc. (NYSE:ED) by 1.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 32,676 shares of the utilities provider’s stock after acquiring an additional 502 shares during the period. Truist Financial Corp’s holdings in Consolidated Edison were worth $2,372,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Ballentine Partners LLC raised its holdings in shares of Consolidated Edison by 4.7% in the second quarter. Ballentine Partners LLC now owns 2,950 shares of the utilities provider’s stock worth $212,000 after buying an additional 133 shares during the last quarter. St. Johns Investment Management Company LLC raised its holdings in shares of Consolidated Edison by 2.6% in the third quarter. St. Johns Investment Management Company LLC now owns 5,524 shares of the utilities provider’s stock worth $401,000 after buying an additional 138 shares during the last quarter. 180 Wealth Advisors LLC raised its holdings in shares of Consolidated Edison by 2.7% in the second quarter. 180 Wealth Advisors LLC now owns 5,327 shares of the utilities provider’s stock worth $407,000 after buying an additional 140 shares during the last quarter. Seeyond raised its holdings in shares of Consolidated Edison by 0.4% in the second quarter. Seeyond now owns 33,598 shares of the utilities provider’s stock worth $2,409,000 after buying an additional 150 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado raised its holdings in shares of Consolidated Edison by 0.3% in the second quarter. Public Employees Retirement Association of Colorado now owns 57,464 shares of the utilities provider’s stock worth $4,121,000 after buying an additional 162 shares during the last quarter. 61.61% of the stock is owned by institutional investors.

In related news, VP Yukari Saegusa sold 1,451 shares of the firm’s stock in a transaction on Friday, December 3rd. The shares were sold at an average price of $80.45, for a total transaction of $116,732.95. The transaction was disclosed in a document filed with the SEC, which is available at this link. In the last 90 days, insiders have purchased 138 shares of company stock worth $10,413. 0.17% of the stock is owned by company insiders.

ED has been the subject of a number of research analyst reports. Bank of America cut shares of Consolidated Edison from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $74.00 to $68.00 in a report on Monday, October 18th. TheStreet raised shares of Consolidated Edison from a “c+” rating to a “b-” rating in a report on Wednesday, October 20th. Citigroup increased their price objective on shares of Consolidated Edison from $77.00 to $84.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 8th. Mizuho cut their price objective on shares of Consolidated Edison from $78.00 to $75.00 and set a “neutral” rating on the stock in a research note on Thursday, October 7th. Finally, Royal Bank of Canada increased their price objective on shares of Consolidated Edison from $78.00 to $85.00 and gave the stock a “sector perform” rating in a research note on Wednesday, December 22nd. Six investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Sell” and a consensus price target of $76.00.

ED stock opened at $83.52 on Friday. The firm has a market cap of $29.51 billion, a PE ratio of 24.93, a P/E/G ratio of 9.26 and a beta of 0.22. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.89 and a current ratio of 0.97. The firm’s fifty day moving average is $81.66 and its 200 day moving average is $77.14. Consolidated Edison, Inc. has a one year low of $65.56 and a one year high of $86.25.

Consolidated Edison (NYSE:ED) last released its quarterly earnings results on Thursday, November 4th. The utilities provider reported $1.41 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.45 by ($0.04). The firm had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.46 billion. Consolidated Edison had a net margin of 8.81% and a return on equity of 7.24%. During the same quarter in the prior year, the business posted $1.48 EPS. Research analysts predict that Consolidated Edison, Inc. will post 4.22 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 15th. Investors of record on Wednesday, November 17th were given a dividend of $0.775 per share. The ex-dividend date of this dividend was Tuesday, November 16th. This represents a $3.10 annualized dividend and a yield of 3.71%. Consolidated Edison’s dividend payout ratio is presently 92.54%.

Consolidated Edison Company Profile

Consolidated Edison, Inc operates as holding company, which through its subsidiaries engages in the business of regulated electric, gas, and steam delivery. It operates through the following segments: Consolidated Edison Company of New York, Inc (CECONY), Orange and Rockland Utilities, Inc (O&R), Con Edison Clean Energy Businesses, Inc and Con Edison Transmission, Inc.

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

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