Todays Report: Today: Daiwa Securities Group Inc. invests in Consolidated Edison Inc. (ED) Shares

Today: Daiwa Securities Group Inc. invests in Consolidated Edison Inc. (ED) Shares

Daiwa Securities Group Inc. increased its position in Consolidated Edison Inc. (NYSE:ED) by 7.6% during the third quarter, according to its most recent disclosure with the SEC. The firm owned 48,700 shares of the company’s stock after buying an additional 3,450 shares during the period. Daiwa Securities Group Inc.’s holdings in Consolidated Edison were worth $3,667,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in ED. Jackson Grant Investment Advisers Inc. raised its stake in Consolidated Edison by 68.0% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 1,050 shares of the company’s stock worth $119,000 after buying an additional 425 shares during the last quarter. Tortoise Investment Management LLC raised its stake in Consolidated Edison by 380.2% in the second quarter. Tortoise Investment Management LLC now owns 1,263 shares of the company’s stock worth $102,000 after buying an additional 1,000 shares during the last quarter. Baker Ellis Asset Management LLC acquired a new stake in Consolidated Edison during the second quarter worth $105,000. Coconut Grove Bank raised its stake in Consolidated Edison by 51.7% in the second quarter. Coconut Grove Bank now owns 1,312 shares of the company’s stock worth $105,000 after buying an additional 447 shares in the last quarter. Finally, TCI Wealth Advisors Inc. raised its stake in Consolidated Edison by 62.5% in the second quarter. TCI Wealth Advisors Inc. now owns 1,347 shares of the company’s stock worth $108,000 after buying an additional 518 shares in the last quarter. Institutional investors and hedge funds own 53.11% of the company’s stock.

Consolidated Edison Inc. (NYSE:ED) traded up 2.14% during trading on Monday, reaching $72.17. 661,700 shares of the company traded hands. Consolidated Edison Inc. has a 52 week low of $60.30 and a 52 week high of $81.88. The company’s 50-day moving average price is $72.36 and its 200 day moving average price is $75.61. The firm has a market capitalization of $21.99 billion and a price-to-earnings ratio of 17.78.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Wednesday, November 16th will be paid a $0.67 dividend. The ex-dividend date is Monday, November 14th. This represents a $2.68 annualized dividend and a yield of 3.79%. Consolidated Edison’s payout ratio is 66.34%.

A number of equities research analysts have recently commented on ED shares. Citigroup Inc. reduced their price objective on shares of Consolidated Edison from $76.00 to $72.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 4th. Morgan Stanley set a $69.00 price objective on shares of Consolidated Edison and gave the company a “sell” rating in a research note on Wednesday, September 21st. Vetr raised shares of Consolidated Edison from a “hold” rating to a “buy” rating and set a $78.00 price objective on the stock in a research note on Monday, October 31st. Zacks Investment Research lowered shares of Consolidated Edison from a “hold” rating to a “sell” rating in a research note on Wednesday, September 21st. Finally, Deutsche Bank AG reaffirmed a “hold” rating on shares of Consolidated Edison in a research note on Friday, November 4th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company. Consolidated Edison presently has an average rating of “Hold” and an average target price of $74.36.

About Consolidated Edison

Consolidated Edison, Inc (Con Edison) is a holding company. The Company operates through its subsidiaries, which include Consolidated Edison Company of New York, Inc (CECONY), Orange and Rockland Utilities, Inc (O&R) and Con Edison Transmission, Inc It owns competitive energy businesses. The Company also owns Con Edison Transmission, Inc (Con Edison Transmission), which invests in electric and gas transmission projects through its subsidiaries, Consolidated Edison Transmission, LLC (CET Electric) and Con Edison Gas Midstream, LLC (CET Gas).

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