OLD Mission Capital LLC Invests $2.91 Million in Consolidated Edison, Inc. (NYSE:ED)

OLD Mission Capital LLC acquired a new position in Consolidated Edison, Inc. (NYSE:ED - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 32,634 shares of the utilities provider's stock, valued at approximately $2,912,000.

Other large investors have also bought and sold shares of the company. TD Private Client Wealth LLC lifted its stake in shares of Consolidated Edison by 4.7% in the 3rd quarter. TD Private Client Wealth LLC now owns 2,334 shares of the utilities provider's stock valued at $243,000 after purchasing an additional 104 shares during the period. Jacobi Capital Management LLC raised its holdings in Consolidated Edison by 4.2% in the fourth quarter. Jacobi Capital Management LLC now owns 2,569 shares of the utilities provider's stock worth $229,000 after purchasing an additional 104 shares in the last quarter. Richwood Investment Advisors LLC lifted its position in Consolidated Edison by 2.3% during the fourth quarter. Richwood Investment Advisors LLC now owns 5,194 shares of the utilities provider's stock valued at $463,000 after buying an additional 115 shares during the period. Penobscot Investment Management Company Inc. boosted its holdings in shares of Consolidated Edison by 5.7% during the 4th quarter. Penobscot Investment Management Company Inc. now owns 2,300 shares of the utilities provider's stock valued at $205,000 after buying an additional 125 shares in the last quarter. Finally, Townsquare Capital LLC increased its stake in shares of Consolidated Edison by 2.4% in the 3rd quarter. Townsquare Capital LLC now owns 5,574 shares of the utilities provider's stock worth $580,000 after acquiring an additional 130 shares in the last quarter. 66.29% of the stock is owned by institutional investors.

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Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on ED shares. Morgan Stanley upped their price objective on shares of Consolidated Edison from $85.00 to $91.00 and gave the stock an "underweight" rating in a report on Thursday, March 20th. Mizuho raised their price objective on Consolidated Edison from $92.00 to $95.00 and gave the company a "neutral" rating in a research report on Monday, February 3rd. Barclays lifted their price objective on Consolidated Edison from $92.00 to $95.00 and gave the company an "underweight" rating in a research note on Monday, February 24th. Evercore ISI downgraded Consolidated Edison from a "strong-buy" rating to a "hold" rating in a report on Tuesday, January 21st. Finally, UBS Group lifted their price target on Consolidated Edison from $110.00 to $113.00 and gave the stock a "neutral" rating in a research report on Friday, March 21st. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Consolidated Edison currently has an average rating of "Hold" and an average price target of $102.40.

Consolidated Edison Stock Performance

Shares of ED stock traded down $3.19 during trading hours on Friday, reaching $109.53. The company had a trading volume of 6,395,484 shares, compared to its average volume of 2,182,709. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01. The business has a fifty day moving average price of $101.43 and a 200-day moving average price of $98.73. Consolidated Edison, Inc. has a one year low of $87.28 and a one year high of $114.87. The firm has a market cap of $37.98 billion, a PE ratio of 20.90, a price-to-earnings-growth ratio of 3.05 and a beta of 0.30.

Consolidated Edison (NYSE:ED - Get Free Report) last posted its earnings results on Thursday, February 20th. The utilities provider reported $0.98 EPS for the quarter, topping analysts' consensus estimates of $0.97 by $0.01. The business had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.63 billion. Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. Sell-side analysts predict that Consolidated Edison, Inc. will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th were given a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 3.10%. This is a boost from Consolidated Edison's previous quarterly dividend of $0.83. The ex-dividend date was Wednesday, February 19th. Consolidated Edison's dividend payout ratio (DPR) is presently 64.89%.

Consolidated Edison Company Profile

Consolidated Edison, Inc, through its subsidiaries, engages in the regulated electric, gas, and steam delivery businesses in the United States. It offers electric services to approximately 3.7 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 1,530 customers in parts of Manhattan.