Cbre Investment Management Listed Real Assets LLC acquired a new stake in Consolidated Edison, Inc. (NYSE:ED - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 416,307 shares of the utilities provider's stock, valued at approximately $37,147,000. Cbre Investment Management Listed Real Assets LLC owned about 0.12% of Consolidated Edison as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Capital Performance Advisors LLP bought a new stake in Consolidated Edison in the third quarter valued at approximately $27,000. Ashton Thomas Securities LLC bought a new stake in Consolidated Edison in the third quarter valued at approximately $30,000. AlphaMark Advisors LLC bought a new stake in Consolidated Edison in the fourth quarter valued at approximately $27,000. Centricity Wealth Management LLC purchased a new position in shares of Consolidated Edison during the fourth quarter valued at approximately $39,000. Finally, FSA Wealth Management LLC purchased a new position in shares of Consolidated Edison during the third quarter valued at approximately $55,000. Institutional investors own 66.29% of the company's stock.
Consolidated Edison Stock Up 2.8 %
ED stock traded up $2.82 during midday trading on Friday, hitting $103.73. The stock had a trading volume of 2,865,756 shares, compared to its average volume of 2,740,435. The firm has a market cap of $35.97 billion, a price-to-earnings ratio of 19.80, a price-to-earnings-growth ratio of 3.05 and a beta of 0.30. The business has a 50-day moving average of $94.39 and a two-hundred day moving average of $98.04. Consolidated Edison, Inc. has a 52-week low of $87.16 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.
Consolidated Edison (NYSE:ED - Get Free Report) last released its earnings results on Thursday, February 20th. The utilities provider reported $0.98 EPS for the quarter, topping the consensus estimate of $0.97 by $0.01. Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. The business had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.63 billion. As a group, equities research analysts forecast that Consolidated Edison, Inc. will post 5.62 earnings per share for the current fiscal year.
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 $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 3.28%. This is an increase from Consolidated Edison's previous quarterly dividend of $0.83. The ex-dividend date is Wednesday, February 19th. Consolidated Edison's payout ratio is 64.89%.
Wall Street Analysts Forecast Growth
Several equities analysts have recently issued reports on ED shares. Barclays boosted their target price on Consolidated Edison from $92.00 to $95.00 and gave the company an "underweight" rating in a research note on Monday, February 24th. Morgan Stanley reduced their target price on Consolidated Edison from $88.00 to $85.00 and set an "underweight" rating on the stock in a research note on Friday, November 22nd. Scotiabank boosted their target price on Consolidated Edison from $100.00 to $101.00 and gave the company a "sector perform" rating in a research note on Monday, February 24th. UBS Group boosted their target price on Consolidated Edison from $105.00 to $110.00 and gave the company a "neutral" rating in a research note on Tuesday, February 25th. Finally, Mizuho boosted their target price on Consolidated Edison from $92.00 to $95.00 and gave the company a "neutral" rating in a research note on Monday, February 3rd. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $101.50.
View Our Latest Research Report 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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