Consolidated Edison, Inc. (NYSE:ED) Stock Position Raised by JPMorgan Chase & Co.

JPMorgan Chase & Co. raised its position in Consolidated Edison, Inc. (NYSE:ED - Free Report) by 4.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,145,128 shares of the utilities provider's stock after purchasing an additional 82,985 shares during the quarter. JPMorgan Chase & Co. owned about 0.62% of Consolidated Edison worth $223,373,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Capital Performance Advisors LLP acquired a new stake in Consolidated Edison in the third quarter worth about $27,000. Ashton Thomas Securities LLC acquired a new stake in shares of Consolidated Edison in the 3rd quarter worth approximately $30,000. Future Financial Wealth Managment LLC acquired a new stake in shares of Consolidated Edison in the 3rd quarter worth approximately $55,000. FSA Wealth Management LLC bought a new position in shares of Consolidated Edison in the third quarter valued at approximately $55,000. Finally, Webster Bank N. A. increased its stake in shares of Consolidated Edison by 189.5% during the third quarter. Webster Bank N. A. now owns 579 shares of the utilities provider's stock valued at $60,000 after acquiring an additional 379 shares during the period. Institutional investors own 66.29% of the company's stock.

Consolidated Edison Trading Up 0.1 %

NYSE ED traded up $0.07 on Tuesday, hitting $89.23. 1,640,959 shares of the stock were exchanged, compared to its average volume of 1,909,892. The company's 50-day moving average price is $96.57 and its two-hundred day moving average price is $98.00. 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, Inc. has a 52-week low of $85.85 and a 52-week high of $107.75. The company has a market capitalization of $30.91 billion, a price-to-earnings ratio of 16.80, a P/E/G ratio of 3.11 and a beta of 0.36.

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

Consolidated Edison Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Wednesday, November 13th were paid a $0.83 dividend. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $3.32 annualized dividend and a yield of 3.72%. Consolidated Edison's dividend payout ratio is presently 62.52%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on ED shares. Morgan Stanley cut their target price on Consolidated Edison from $88.00 to $85.00 and set an "underweight" rating for the company in a research report on Friday, November 22nd. Barclays decreased their target price on Consolidated Edison from $104.00 to $99.00 and set an "underweight" rating for the company in a research note on Friday, November 8th. Scotiabank upgraded shares of Consolidated Edison from a "sector underperform" rating to a "sector perform" rating and boosted their price target for the stock from $90.00 to $100.00 in a research report on Thursday, December 12th. Evercore ISI upgraded shares of Consolidated Edison from a "hold" rating to a "strong-buy" rating in a research report on Friday, November 8th. Finally, Citigroup raised shares of Consolidated Edison from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $103.00 to $116.00 in a research note on Tuesday, October 15th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, two have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $99.96.

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.