Aware Super Pty Ltd as trustee of Aware Super Makes New $2.78 Million Investment in Consolidated Edison, Inc. (NYSE:ED)

Aware Super Pty Ltd as trustee of Aware Super bought a new stake in shares of Consolidated Edison, Inc. (NYSE:ED - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 31,169 shares of the utilities provider's stock, valued at approximately $2,781,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Wilmington Savings Fund Society FSB acquired a new position in Consolidated Edison in the 3rd quarter worth $776,000. JPMorgan Chase & Co. lifted its stake in shares of Consolidated Edison by 4.0% in the third quarter. JPMorgan Chase & Co. now owns 2,145,128 shares of the utilities provider's stock worth $223,373,000 after acquiring an additional 82,985 shares in the last quarter. Hennessy Advisors Inc. boosted its holdings in Consolidated Edison by 2.8% in the fourth quarter. Hennessy Advisors Inc. now owns 143,136 shares of the utilities provider's stock valued at $12,772,000 after purchasing an additional 3,900 shares during the last quarter. Gateway Investment Advisers LLC grew its stake in Consolidated Edison by 102.7% during the 4th quarter. Gateway Investment Advisers LLC now owns 430,279 shares of the utilities provider's stock valued at $38,394,000 after purchasing an additional 217,981 shares in the last quarter. Finally, Jones Financial Companies Lllp increased its holdings in Consolidated Edison by 81.4% during the 4th quarter. Jones Financial Companies Lllp now owns 9,921 shares of the utilities provider's stock worth $885,000 after purchasing an additional 4,451 shares during the last quarter. 66.29% of the stock is owned by hedge funds and other institutional investors.

Consolidated Edison Stock Performance

NYSE:ED traded up $0.50 during midday trading on Friday, reaching $111.94. 2,055,237 shares of the company traded hands, compared to its average volume of 2,217,115. The firm has a market capitalization of $40.32 billion, a price-to-earnings ratio of 21.36, a price-to-earnings-growth ratio of 3.05 and a beta of 0.27. The company has a fifty day moving average price of $104.76 and a 200 day moving average price of $99.24. 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 twelve month low of $87.28 and a twelve month high of $114.87.

Consolidated Edison (NYSE:ED - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The utilities provider reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.01. The company 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%. On average, analysts expect that Consolidated Edison, Inc. will post 5.62 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Wednesday, May 14th will be issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 3.04%. Consolidated Edison's dividend payout ratio (DPR) is 64.89%.

Analysts Set New Price Targets

ED has been the subject of a number of recent analyst reports. UBS Group lifted their price target on shares of Consolidated Edison from $110.00 to $113.00 and gave the stock a "neutral" rating in a research note on Friday, March 21st. Scotiabank boosted their target price on shares of Consolidated Edison from $100.00 to $101.00 and gave the stock a "sector perform" rating in a research report on Monday, February 24th. Barclays increased their price target on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock an "underweight" rating in a research report on Monday, February 24th. Evercore ISI lowered Consolidated Edison from a "strong-buy" rating to a "hold" rating in a report on Tuesday, January 21st. Finally, Morgan Stanley increased their target price on Consolidated Edison from $85.00 to $91.00 and gave the stock an "underweight" rating in a report on Thursday, March 20th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $102.80.

About Consolidated Edison

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.