Victory Capital Management Inc. Acquires 152,843 Shares of Consolidated Edison, Inc. (NYSE:ED)

Victory Capital Management Inc. boosted its holdings in Consolidated Edison, Inc. (NYSE:ED - Free Report) by 29.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 668,076 shares of the utilities provider's stock after acquiring an additional 152,843 shares during the quarter. Victory Capital Management Inc. owned about 0.19% of Consolidated Edison worth $59,612,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ED. Point72 Asset Management L.P. raised its position in Consolidated Edison by 1,766.0% in the third quarter. Point72 Asset Management L.P. now owns 988,961 shares of the utilities provider's stock worth $102,980,000 after acquiring an additional 935,962 shares in the last quarter. FMR LLC raised its holdings in Consolidated Edison by 82.3% during the 3rd quarter. FMR LLC now owns 1,268,424 shares of the utilities provider's stock worth $132,081,000 after buying an additional 572,530 shares during the period. National Bank of Canada FI raised its holdings in Consolidated Edison by 350.6% during the 3rd quarter. National Bank of Canada FI now owns 620,705 shares of the utilities provider's stock worth $64,634,000 after buying an additional 482,953 shares during the period. State Street Corp raised its holdings in Consolidated Edison by 1.7% during the 3rd quarter. State Street Corp now owns 23,429,218 shares of the utilities provider's stock worth $2,439,684,000 after buying an additional 399,034 shares during the period. Finally, Unigestion Holding SA raised its holdings in Consolidated Edison by 1,904.8% during the 3rd quarter. Unigestion Holding SA now owns 320,188 shares of the utilities provider's stock worth $33,338,000 after buying an additional 304,217 shares during the period. 66.29% of the stock is currently owned by institutional investors.

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Consolidated Edison Stock Up 2.8 %

Shares of NYSE ED traded up $2.82 during trading hours 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 company has a market capitalization of $35.97 billion, a P/E ratio of 19.80, a P/E/G ratio of 3.05 and a beta of 0.30. The firm's 50-day moving average price is $94.39 and its two-hundred day moving average price is $98.03. 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 quick ratio of 0.93 and a current ratio of 1.01.

Consolidated Edison (NYSE:ED - Get Free Report) last announced its quarterly 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. The business had revenue of $3.67 billion during the quarter, compared to analysts' expectations of $3.63 billion. Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. Analysts anticipate that Consolidated Edison, Inc. will post 5.62 EPS for the current fiscal year.

Consolidated Edison Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Wednesday, February 19th will be issued a dividend of $0.85 per share. The ex-dividend date of this dividend is Wednesday, February 19th. This is a positive change 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 3.28%. Consolidated Edison's payout ratio is 64.89%.

Wall Street Analysts Forecast Growth

ED has been the topic of several recent analyst reports. Evercore ISI downgraded Consolidated Edison from a "strong-buy" rating to a "hold" rating in a report on Tuesday, January 21st. Barclays boosted their price objective on Consolidated Edison from $92.00 to $95.00 and gave the stock an "underweight" rating in a report on Monday, February 24th. UBS Group boosted their price objective on Consolidated Edison from $105.00 to $110.00 and gave the stock a "neutral" rating in a report on Tuesday, February 25th. Mizuho upped their target price on Consolidated Edison from $92.00 to $95.00 and gave the company a "neutral" rating in a report on Monday, February 3rd. Finally, Morgan Stanley dropped their target price on Consolidated Edison from $88.00 to $85.00 and set an "underweight" rating on the stock in a report on Friday, November 22nd. Two equities 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.com, the company presently has a consensus rating of "Hold" and an average target price of $101.50.

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.