Consolidated Edison, Inc. (NYSE:ED) Shares Acquired by First Trust Advisors LP

First Trust Advisors LP grew its position in shares of Consolidated Edison, Inc. (NYSE:ED - Free Report) by 9.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 787,035 shares of the utilities provider's stock after purchasing an additional 68,004 shares during the period. First Trust Advisors LP owned approximately 0.23% of Consolidated Edison worth $70,227,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Jacobi Capital Management LLC grew its stake in shares of Consolidated Edison by 4.2% in the 4th quarter. Jacobi Capital Management LLC now owns 2,569 shares of the utilities provider's stock worth $229,000 after buying an additional 104 shares in the last quarter. Richwood Investment Advisors LLC lifted its holdings in shares of Consolidated Edison by 2.3% in the 4th quarter. Richwood Investment Advisors LLC now owns 5,194 shares of the utilities provider's stock valued at $463,000 after acquiring an additional 115 shares during the last quarter. Penobscot Investment Management Company Inc. grew its position in Consolidated Edison by 5.7% in the fourth quarter. Penobscot Investment Management Company Inc. now owns 2,300 shares of the utilities provider's stock worth $205,000 after acquiring an additional 125 shares in the last quarter. Trust Point Inc. increased its stake in Consolidated Edison by 4.9% during the fourth quarter. Trust Point Inc. now owns 2,790 shares of the utilities provider's stock worth $249,000 after acquiring an additional 131 shares during the last quarter. Finally, Haverford Trust Co raised its position in Consolidated Edison by 3.7% during the fourth quarter. Haverford Trust Co now owns 3,709 shares of the utilities provider's stock valued at $331,000 after purchasing an additional 132 shares during the period. 66.29% of the stock is owned by institutional investors.

Consolidated Edison Stock Down 0.8 %

Shares of ED traded down $0.87 during mid-day trading on Friday, hitting $110.42. The company's stock had a trading volume of 2,820,721 shares, compared to its average volume of 2,201,963. The firm has a market capitalization of $39.77 billion, a price-to-earnings ratio of 21.07, a PEG ratio of 3.05 and a beta of 0.27. The company's 50-day moving average is $106.12 and its 200-day moving average is $99.48. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.07. Consolidated Edison, Inc. has a 52-week low of $87.28 and a 52-week high of $114.87.

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

Consolidated Edison Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Wednesday, May 14th will be given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 3.08%. The ex-dividend date is Wednesday, May 14th. Consolidated Edison's dividend payout ratio is currently 64.89%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. UBS Group lifted their target price on Consolidated Edison from $110.00 to $113.00 and gave the stock a "neutral" rating in a report on Friday, March 21st. Morgan Stanley set a $94.00 target price on shares of Consolidated Edison and gave the stock an "overweight" rating in a report on Wednesday. Evercore ISI downgraded shares of Consolidated Edison from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, January 21st. Scotiabank lifted their target price on Consolidated Edison from $100.00 to $101.00 and gave the stock a "sector perform" rating in a research report on Monday, February 24th. Finally, Citigroup upped their target price on shares of Consolidated Edison from $116.00 to $120.00 and gave the stock a "buy" rating in a research note on Wednesday, April 9th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $103.60.

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.