Asset Management One Co. Ltd. raised its holdings in Consolidated Edison, Inc. (NYSE:ED - Free Report) by 3.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 180,823 shares of the utilities provider's stock after purchasing an additional 5,318 shares during the period. Asset Management One Co. Ltd. owned about 0.05% of Consolidated Edison worth $16,195,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. TD Private Client Wealth LLC raised its position in shares of Consolidated Edison by 4.7% during the 3rd quarter. TD Private Client Wealth LLC now owns 2,334 shares of the utilities provider's stock valued at $243,000 after acquiring an additional 104 shares in the last quarter. D.A. Davidson & CO. raised its position in shares of Consolidated Edison by 1.1% during the 3rd quarter. D.A. Davidson & CO. now owns 11,142 shares of the utilities provider's stock valued at $1,160,000 after acquiring an additional 124 shares in the last quarter. Townsquare Capital LLC raised its position in shares of Consolidated Edison by 2.4% during the 3rd quarter. Townsquare Capital LLC now owns 5,574 shares of the utilities provider's stock valued at $580,000 after acquiring an additional 130 shares in the last quarter. Trust Point Inc. raised its position in shares of Consolidated Edison by 4.9% during the 4th quarter. Trust Point Inc. now owns 2,790 shares of the utilities provider's stock valued at $249,000 after acquiring an additional 131 shares in the last quarter. Finally, Cooper Financial Group raised its position in shares of Consolidated Edison by 5.1% during the 4th quarter. Cooper Financial Group now owns 2,799 shares of the utilities provider's stock valued at $250,000 after acquiring an additional 136 shares in the last quarter. 66.29% of the stock is owned by institutional investors and hedge funds.
Consolidated Edison Stock Up 0.3 %
Consolidated Edison stock traded up $0.26 during mid-day trading on Wednesday, hitting $95.17. The company's stock had a trading volume of 1,857,548 shares, compared to its average volume of 2,394,880. The firm's 50 day moving average is $91.86 and its 200 day moving average is $98.05. The company has a market cap of $32.97 billion, a PE ratio of 17.92, a price-to-earnings-growth ratio of 3.02 and a beta of 0.39. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93. Consolidated Edison, Inc. has a 52-week low of $85.85 and a 52-week high of $107.75.
Consolidated Edison Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th will be given a $0.85 dividend. This is a positive change from Consolidated Edison's previous quarterly dividend of $0.83. This represents a $3.40 annualized dividend and a yield of 3.57%. The ex-dividend date of this dividend is Wednesday, February 19th. Consolidated Edison's dividend payout ratio is presently 62.52%.
Wall Street Analyst Weigh In
Several equities research analysts recently issued reports on the company. Barclays dropped their price target on Consolidated Edison from $99.00 to $92.00 and set an "underweight" rating on the stock in a research report on Monday, January 27th. Mizuho upped their price objective on Consolidated Edison from $92.00 to $95.00 and gave the stock a "neutral" rating in a research note on Monday, February 3rd. Scotiabank upgraded Consolidated Edison from a "sector underperform" rating to a "sector perform" rating and upped their price objective for the stock from $90.00 to $100.00 in a research note on Thursday, December 12th. Morgan Stanley decreased their price target on Consolidated Edison from $88.00 to $85.00 and set an "underweight" rating for the company in a research note on Friday, November 22nd. Finally, Evercore ISI cut Consolidated Edison from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, January 21st. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $100.70.
View Our Latest Stock Analysis on Consolidated Edison
Consolidated Edison Profile
(
Free Report)
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.
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