Canada Pension Plan Investment Board Acquires 20,288 Shares of Consolidated Edison, Inc. (NYSE:ED)

Canada Pension Plan Investment Board raised its position in Consolidated Edison, Inc. (NYSE:ED - Free Report) by 2.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 713,317 shares of the utilities provider's stock after purchasing an additional 20,288 shares during the quarter. Canada Pension Plan Investment Board owned about 0.21% of Consolidated Edison worth $63,649,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in ED. AlphaMark Advisors LLC bought a new stake in Consolidated Edison during the fourth quarter worth approximately $27,000. OFI Invest Asset Management bought a new stake in shares of Consolidated Edison in the 4th quarter worth $35,000. Fairway Wealth LLC acquired a new stake in shares of Consolidated Edison in the fourth quarter valued at $36,000. Centricity Wealth Management LLC acquired a new position in Consolidated Edison during the fourth quarter worth about $39,000. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new stake in Consolidated Edison in the fourth quarter worth about $44,000. Institutional investors own 66.29% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ED. Morgan Stanley lifted their price objective on shares of Consolidated Edison from $85.00 to $91.00 and gave the stock an "underweight" rating in a research note on Thursday, March 20th. Evercore ISI lowered shares of Consolidated Edison from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, January 21st. Mizuho increased 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. Scotiabank lifted their target price on Consolidated Edison from $100.00 to $101.00 and gave the stock a "sector perform" rating in a report on Monday, February 24th. Finally, Barclays upped their target price on Consolidated Edison from $95.00 to $100.00 and gave the company an "underweight" rating in a report on Tuesday. Two research analysts have rated the stock with a sell rating, seven have issued 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, the stock has an average rating of "Hold" and an average price target of $103.30.

Consolidated Edison Trading Down 0.7 %

Shares of ED stock traded down $0.75 during trading hours on Thursday, reaching $111.78. 632,095 shares of the stock traded hands, compared to its average volume of 2,787,391. Consolidated Edison, Inc. has a 1-year low of $87.28 and a 1-year high of $114.87. The business has a fifty day moving average price of $105.80 and a 200 day moving average price of $99.41. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07. The firm has a market capitalization of $40.26 billion, a PE ratio of 21.33, a PEG ratio of 3.05 and a beta of 0.27.

Consolidated Edison (NYSE:ED - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The utilities provider reported $0.98 EPS for the quarter, beating analysts' consensus estimates of $0.97 by $0.01. Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. The firm had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.63 billion. On average, equities research analysts forecast that Consolidated Edison, Inc. will post 5.62 EPS for the current year.

Consolidated Edison Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Wednesday, May 14th will be given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date of this dividend is Wednesday, May 14th. Consolidated Edison's payout ratio is presently 64.89%.

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.