Forsta AP Fonden Acquires 9,100 Shares of Consolidated Edison, Inc. (NYSE:ED)

Forsta AP Fonden grew its position in shares of Consolidated Edison, Inc. (NYSE:ED - Free Report) by 6.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 150,200 shares of the utilities provider's stock after buying an additional 9,100 shares during the period. Forsta AP Fonden's holdings in Consolidated Edison were worth $13,402,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. State Street Corp increased its stake 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 acquiring an additional 399,034 shares during the period. Geode Capital Management LLC increased its position in shares of Consolidated Edison by 1.2% in the third quarter. Geode Capital Management LLC now owns 8,853,788 shares of the utilities provider's stock worth $919,041,000 after purchasing an additional 107,281 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Consolidated Edison by 1.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,148,666 shares of the utilities provider's stock valued at $223,741,000 after purchasing an additional 28,254 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Consolidated Edison by 4.0% during the third quarter. JPMorgan Chase & Co. now owns 2,145,128 shares of the utilities provider's stock worth $223,373,000 after purchasing an additional 82,985 shares during the period. Finally, FMR LLC grew its stake in Consolidated Edison by 82.3% during the third 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 in the last quarter. Institutional investors and hedge funds own 66.29% of the company's stock.

Consolidated Edison Trading Up 0.8 %

NYSE ED traded up $0.70 on Thursday, hitting $93.27. The company's stock had a trading volume of 398,051 shares, compared to its average volume of 2,188,726. The firm has a market cap of $32.31 billion, a PE ratio of 17.57, a PEG ratio of 2.89 and a beta of 0.38. The company's 50-day moving average is $92.67 and its 200 day moving average is $98.06. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07. Consolidated Edison, Inc. has a 1-year low of $85.85 and a 1-year high of $107.75.

Consolidated Edison (NYSE:ED - Get Free Report) last announced its 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 return on equity of 8.70% and a net margin of 12.27%. The business had revenue of $4.09 billion during the quarter, compared to analyst estimates of $4.02 billion. As a group, analysts predict that Consolidated Edison, Inc. will post 5.35 earnings per share for the current fiscal year.

Consolidated Edison Increases Dividend

The business also recently declared 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 dividend on an annualized basis and a yield of 3.65%. This is a boost from Consolidated Edison's previous quarterly dividend of $0.83. The ex-dividend date is Wednesday, February 19th. Consolidated Edison's dividend payout ratio (DPR) is presently 62.52%.

Analyst Ratings Changes

ED has been the subject of several analyst reports. Scotiabank upgraded shares of Consolidated Edison from a "sector underperform" rating to a "sector perform" rating and boosted their target price for the company from $90.00 to $100.00 in a research report on Thursday, December 12th. Citigroup upgraded shares of Consolidated Edison from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $103.00 to $116.00 in a research report on Tuesday, October 15th. Jefferies Financial Group started coverage on Consolidated Edison in a research note on Wednesday, October 9th. They set a "hold" rating and a $108.00 target price for the company. Morgan Stanley decreased their price target 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. Finally, Barclays lowered their price target on Consolidated Edison from $99.00 to $92.00 and set an "underweight" rating for the company in a report on Monday. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $100.00.

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.