Allspring Global Investments Holdings LLC Purchases 93,956 Shares of Consolidated Edison, Inc. (NYSE:ED)

Allspring Global Investments Holdings LLC increased its stake in Consolidated Edison, Inc. (NYSE:ED - Free Report) by 44.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 306,197 shares of the utilities provider's stock after acquiring an additional 93,956 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.09% of Consolidated Edison worth $27,261,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Creative Planning boosted its stake in shares of Consolidated Edison by 7.9% during the 3rd quarter. Creative Planning now owns 98,928 shares of the utilities provider's stock worth $10,301,000 after purchasing an additional 7,269 shares during the period. nVerses Capital LLC bought a new stake in Consolidated Edison in the third quarter worth about $115,000. Aaron Wealth Advisors LLC boosted its position in shares of Consolidated Edison by 5.5% during the third quarter. Aaron Wealth Advisors LLC now owns 6,814 shares of the utilities provider's stock valued at $710,000 after buying an additional 358 shares during the period. Blue Trust Inc. grew its stake in shares of Consolidated Edison by 70.8% during the third quarter. Blue Trust Inc. now owns 4,695 shares of the utilities provider's stock valued at $489,000 after buying an additional 1,946 shares during the last quarter. Finally, Raymond James & Associates raised its holdings in shares of Consolidated Edison by 20.1% in the third quarter. Raymond James & Associates now owns 190,145 shares of the utilities provider's stock worth $19,800,000 after buying an additional 31,761 shares during the period. 66.29% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ED has been the subject of a number of recent analyst reports. Morgan Stanley dropped their price objective on Consolidated Edison from $88.00 to $85.00 and set an "underweight" rating for the company in a report on Friday, November 22nd. Scotiabank upgraded shares of Consolidated Edison from a "sector underperform" rating to a "sector perform" rating and upped their price target for the stock from $90.00 to $100.00 in a report on Thursday, December 12th. Evercore ISI downgraded shares of Consolidated Edison from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, January 21st. Mizuho boosted their price objective on shares of Consolidated Edison from $92.00 to $95.00 and gave the company a "neutral" rating in a research report on Monday, February 3rd. Finally, Barclays dropped their target price on shares of Consolidated Edison from $99.00 to $92.00 and set an "underweight" rating on the stock in a research note on Monday, January 27th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $100.70.

Consolidated Edison Stock Up 0.3 %

Shares of ED traded up $0.26 during mid-day trading on Wednesday, hitting $95.17. The company's stock had a trading volume of 1,212,943 shares, compared to its average volume of 2,364,786. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.07. The company's 50-day moving average is $91.86 and its 200-day moving average is $98.05. Consolidated Edison, Inc. has a 52-week low of $85.85 and a 52-week high of $107.75. The firm has a market capitalization of $32.97 billion, a price-to-earnings ratio of 17.92, a PEG ratio of 3.02 and a beta of 0.39.

Consolidated Edison Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th will be issued a dividend of $0.85 per share. The ex-dividend date is Wednesday, February 19th. This represents a $3.40 dividend on an annualized basis and a yield of 3.57%. This is a positive change from Consolidated Edison's previous quarterly dividend of $0.83. Consolidated Edison's dividend payout ratio is currently 62.52%.

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.