Consolidated Edison, Inc. (NYSE:ED) Position Lessened by AGF Management Ltd.

AGF Management Ltd. decreased its position in shares of Consolidated Edison, Inc. (NYSE:ED - Free Report) by 13.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 32,633 shares of the utilities provider's stock after selling 5,245 shares during the period. AGF Management Ltd.'s holdings in Consolidated Edison were worth $2,912,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Ashton Thomas Securities LLC purchased a new stake in shares of Consolidated Edison during the 3rd quarter worth about $30,000. AlphaMark Advisors LLC acquired a new position in Consolidated Edison in the fourth quarter worth approximately $27,000. Fairway Wealth LLC bought a new position in Consolidated Edison during the fourth quarter valued at approximately $36,000. OFI Invest Asset Management acquired a new stake in Consolidated Edison in the fourth quarter valued at approximately $35,000. Finally, Centricity Wealth Management LLC acquired a new stake in Consolidated Edison in the fourth quarter valued at approximately $39,000. Hedge funds and other institutional investors own 66.29% of the company's stock.

Wall Street Analyst Weigh In

ED has been the topic of a number of recent research reports. Morgan Stanley cut their price target on shares of Consolidated Edison from $88.00 to $85.00 and set an "underweight" rating on the stock in a report on Friday, November 22nd. Barclays raised their target price on Consolidated Edison from $92.00 to $95.00 and gave the company an "underweight" rating in a report on Monday, February 24th. Evercore ISI downgraded Consolidated Edison from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, January 21st. Scotiabank increased their price objective on Consolidated Edison from $100.00 to $101.00 and gave the company a "sector perform" rating in a report on Monday, February 24th. Finally, UBS Group boosted their target price on Consolidated Edison from $105.00 to $110.00 and gave the stock a "neutral" rating in a report on Tuesday, February 25th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $101.50.

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Consolidated Edison Stock Performance

Consolidated Edison stock opened at $102.72 on Thursday. The firm has a market capitalization of $35.62 billion, a P/E ratio of 19.60, a P/E/G ratio of 3.05 and a beta of 0.30. The stock has a fifty day moving average price of $95.30 and a two-hundred day moving average price of $98.11. Consolidated Edison, Inc. has a 52-week low of $87.16 and a 52-week high of $107.97. 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 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 firm 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%. As a group, analysts anticipate that Consolidated Edison, Inc. will post 5.62 EPS for the current fiscal year.

Consolidated Edison Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th will be given a $0.85 dividend. This is an increase from Consolidated Edison's previous quarterly dividend of $0.83. The ex-dividend date is Wednesday, February 19th. This represents a $3.40 annualized dividend and a yield of 3.31%. 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.

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