Consolidated Edison, Inc. (NYSE:ED) Position Boosted by Bryn Mawr Capital Management LLC

Bryn Mawr Capital Management LLC raised its stake in Consolidated Edison, Inc. (NYSE:ED - Free Report) by 1,676.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 58,584 shares of the utilities provider's stock after purchasing an additional 55,286 shares during the period. Bryn Mawr Capital Management LLC's holdings in Consolidated Edison were worth $5,227,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Kentucky Retirement Systems Insurance Trust Fund increased its position in shares of Consolidated Edison by 1.3% in the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 10,372 shares of the utilities provider's stock worth $925,000 after purchasing an additional 133 shares during the last quarter. Venturi Wealth Management LLC increased its position in shares of Consolidated Edison by 613.2% in the 4th quarter. Venturi Wealth Management LLC now owns 4,793 shares of the utilities provider's stock worth $428,000 after purchasing an additional 4,121 shares during the last quarter. CIBC Asset Management Inc increased its position in shares of Consolidated Edison by 1.4% in the 4th quarter. CIBC Asset Management Inc now owns 121,869 shares of the utilities provider's stock worth $10,862,000 after purchasing an additional 1,641 shares during the last quarter. Baillie Gifford & Co. increased its position in shares of Consolidated Edison by 64.2% in the 4th quarter. Baillie Gifford & Co. now owns 19,093 shares of the utilities provider's stock worth $1,704,000 after purchasing an additional 7,465 shares during the last quarter. Finally, Sheaff Brock Investment Advisors LLC bought a new stake in shares of Consolidated Edison in the 4th quarter worth about $377,000. Institutional investors own 66.29% of the company's stock.

Wall Street Analyst Weigh In

ED has been the subject of a number of recent research reports. Barclays lowered their price objective on shares of Consolidated Edison from $99.00 to $92.00 and set an "underweight" rating for the company in a research report on Monday, January 27th. 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. Evercore ISI downgraded shares of Consolidated Edison from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, January 21st. Morgan Stanley lowered their price objective on shares of Consolidated Edison from $88.00 to $85.00 and set an "underweight" rating for the company in a research report on Friday, November 22nd. Finally, Scotiabank raised shares of Consolidated Edison from a "sector underperform" rating to a "sector perform" rating and boosted their price objective for the company from $90.00 to $100.00 in a research report on Thursday, December 12th. Two research analysts have rated the stock with a sell rating, seven have issued 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.com, the company has a consensus rating of "Hold" and an average target price of $100.70.

Consolidated Edison Price Performance

Shares of ED traded up $3.08 during midday trading on Friday, reaching $98.84. The stock had a trading volume of 2,747,225 shares, compared to its average volume of 2,405,073. Consolidated Edison, Inc. has a 52 week low of $85.85 and a 52 week high of $107.75. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93. The firm's 50 day moving average price is $91.98 and its 200-day moving average price is $98.02. The company has a market capitalization of $34.24 billion, a P/E ratio of 18.69, a P/E/G ratio of 3.04 and a beta of 0.39.

Consolidated Edison (NYSE:ED - Get Free Report) last announced its earnings results on Thursday, February 20th. The utilities provider reported $0.98 EPS for the quarter, beating the consensus estimate 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 return on equity of 8.70% and a net margin of 12.27%. On average, analysts forecast that Consolidated Edison, Inc. will post 5.35 earnings per share for the current fiscal year.

Consolidated Edison Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Wednesday, February 19th will be paid a $0.85 dividend. The ex-dividend date is Wednesday, February 19th. This represents a $3.40 dividend on an annualized basis and a yield of 3.44%. This is a boost from Consolidated Edison's previous quarterly dividend of $0.83. Consolidated Edison's dividend payout ratio (DPR) is currently 64.03%.

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.