Duff & Phelps Investment Management Co. Acquires 11,174 Shares of Consolidated Edison, Inc. (NYSE:ED)

Duff & Phelps Investment Management Co. raised its stake in shares of Consolidated Edison, Inc. (NYSE:ED - Free Report) by 139.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,169 shares of the utilities provider's stock after buying an additional 11,174 shares during the period. Duff & Phelps Investment Management Co.'s holdings in Consolidated Edison were worth $1,996,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in ED. Capital Performance Advisors LLP bought a new position in Consolidated Edison in the 3rd quarter worth $27,000. Ashton Thomas Securities LLC acquired a new position in shares of Consolidated Edison during the 3rd quarter worth about $30,000. TruNorth Capital Management LLC bought a new stake in Consolidated Edison during the 2nd quarter valued at approximately $33,000. Cultivar Capital Inc. acquired a new stake in Consolidated Edison in the 2nd quarter valued at approximately $54,000. Finally, Future Financial Wealth Managment LLC bought a new position in Consolidated Edison in the 3rd quarter worth approximately $55,000. Institutional investors and hedge funds own 66.29% of the company's stock.

Consolidated Edison Price Performance

Consolidated Edison stock traded down $0.08 on Tuesday, reaching $94.70. The company's stock had a trading volume of 1,695,422 shares, compared to its average volume of 1,893,423. The business's fifty day moving average price is $100.90 and its 200 day moving average price is $98.23. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01. The company has a market cap of $32.81 billion, a price-to-earnings ratio of 17.83, a PEG ratio of 3.18 and a beta of 0.36. Consolidated Edison, Inc. has a twelve month low of $85.85 and a twelve month high of $107.75.

Consolidated Edison (NYSE:ED - Get Free Report) last issued its quarterly earnings results on Thursday, November 7th. The utilities provider reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.56 by $0.12. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.70%. The business had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $4.02 billion. Equities analysts expect that Consolidated Edison, Inc. will post 5.34 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Wednesday, November 13th will be issued a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date of this dividend is Wednesday, November 13th. Consolidated Edison's dividend payout ratio is currently 62.52%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on ED shares. Evercore ISI raised Consolidated Edison from a "hold" rating to a "strong-buy" rating in a research report on Friday, November 8th. Barclays decreased their target price on Consolidated Edison from $104.00 to $99.00 and set an "underweight" rating on the stock in a research report on Friday, November 8th. UBS Group upped their price target on Consolidated Edison from $105.00 to $106.00 and gave the company a "neutral" rating in a report on Friday, September 20th. Scotiabank lifted their price objective on Consolidated Edison from $85.00 to $90.00 and gave the stock a "sector underperform" rating in a report on Tuesday, August 20th. Finally, Jefferies Financial Group started coverage on Consolidated Edison in a research note on Wednesday, October 9th. They issued a "hold" rating and a $108.00 target price for the company. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $99.13.

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.