Geode Capital Management LLC Has $799.68 Million Stock Position in Consolidated Edison, Inc. (NYSE:ED)

Geode Capital Management LLC lifted its stake in Consolidated Edison, Inc. (NYSE:ED - Free Report) by 1.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,984,022 shares of the utilities provider's stock after acquiring an additional 130,234 shares during the period. Geode Capital Management LLC owned approximately 2.59% of Consolidated Edison worth $799,684,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. United Bank acquired a new position in Consolidated Edison in the third quarter worth about $227,000. FMR LLC grew its stake in shares of Consolidated Edison by 82.3% in the 3rd quarter. FMR LLC now owns 1,268,424 shares of the utilities provider's stock valued at $132,081,000 after purchasing an additional 572,530 shares during the period. Townsquare Capital LLC raised its holdings in shares of Consolidated Edison by 2.4% in the 3rd quarter. Townsquare Capital LLC now owns 5,574 shares of the utilities provider's stock worth $580,000 after buying an additional 130 shares in the last quarter. Verition Fund Management LLC lifted its position in shares of Consolidated Edison by 231.1% during the 3rd quarter. Verition Fund Management LLC now owns 15,382 shares of the utilities provider's stock worth $1,602,000 after buying an additional 10,736 shares during the period. Finally, Edgestream Partners L.P. acquired a new stake in Consolidated Edison in the 3rd quarter valued at $283,000. Institutional investors own 66.29% of the company's stock.

Analyst Ratings Changes

ED has been the subject of several recent analyst reports. Scotiabank increased their price objective on Consolidated Edison from $100.00 to $101.00 and gave the stock a "sector perform" rating in a research note on Monday, February 24th. Barclays lifted their price target on shares of Consolidated Edison from $92.00 to $95.00 and gave the company an "underweight" rating in a report on Monday, February 24th. Evercore ISI lowered shares of Consolidated Edison from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, January 21st. UBS Group raised their price objective on shares of Consolidated Edison from $110.00 to $113.00 and gave the stock a "neutral" rating in a report on Friday, March 21st. Finally, Morgan Stanley boosted 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 issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $102.40.

Remove Ads

Consolidated Edison Trading Down 2.5 %

Consolidated Edison stock traded down $2.75 during trading hours on Monday, reaching $106.57. 1,341,152 shares of the company's stock traded hands, compared to its average volume of 2,179,571. The firm has a market capitalization of $38.39 billion, a price-to-earnings ratio of 20.31, a PEG ratio of 3.05 and a beta of 0.27. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01. Consolidated Edison, Inc. has a fifty-two week low of $87.28 and a fifty-two week high of $114.87. The firm's 50 day moving average is $101.43 and its 200-day moving average is $98.70.

Consolidated Edison (NYSE:ED - Get Free Report) last issued 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. Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. The company had revenue of $3.67 billion during the quarter, compared to analysts' expectations of $3.63 billion. On average, analysts predict that Consolidated Edison, Inc. will post 5.62 earnings per share for the current year.

Consolidated Edison Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Wednesday, February 19th were paid a $0.85 dividend. The ex-dividend date of this dividend was Wednesday, February 19th. This is a boost from Consolidated Edison's previous quarterly dividend of $0.83. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.19%. Consolidated Edison's dividend payout ratio is 64.89%.

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.