Los Angeles Capital Management LLC Raises Stock Position in Consolidated Edison, Inc. (NYSE:ED)

Los Angeles Capital Management LLC raised its holdings in shares of Consolidated Edison, Inc. (NYSE:ED - Free Report) by 5.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 272,310 shares of the utilities provider's stock after buying an additional 13,342 shares during the period. Los Angeles Capital Management LLC owned about 0.08% of Consolidated Edison worth $28,356,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Retirement Planning Co of New England Inc. raised its stake in shares of Consolidated Edison by 4.2% during the second quarter. Retirement Planning Co of New England Inc. now owns 2,501 shares of the utilities provider's stock valued at $224,000 after acquiring an additional 100 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its stake in shares of Consolidated Edison by 13.0% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 868 shares of the utilities provider's stock valued at $78,000 after acquiring an additional 100 shares during the last quarter. Brookstone Capital Management raised its stake in shares of Consolidated Edison by 0.6% during the third quarter. Brookstone Capital Management now owns 24,173 shares of the utilities provider's stock valued at $2,517,000 after acquiring an additional 136 shares during the last quarter. Checchi Capital Advisers LLC raised its stake in shares of Consolidated Edison by 2.6% during the second quarter. Checchi Capital Advisers LLC now owns 5,627 shares of the utilities provider's stock valued at $503,000 after acquiring an additional 141 shares during the last quarter. Finally, Center For Asset Management LLC raised its stake in shares of Consolidated Edison by 3.5% during the second quarter. Center For Asset Management LLC now owns 4,358 shares of the utilities provider's stock valued at $390,000 after acquiring an additional 147 shares during the last quarter. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

Consolidated Edison Stock Up 0.4 %

ED traded up $0.35 during midday trading on Monday, reaching $98.48. The company's stock had a trading volume of 1,953,667 shares, compared to its average volume of 1,862,791. The firm has a market capitalization of $34.09 billion, a price-to-earnings ratio of 18.48, a PEG ratio of 3.31 and a beta of 0.36. The company has a current ratio of 1.04, a quick ratio of 0.97 and a debt-to-equity ratio of 1.08. Consolidated Edison, Inc. has a 1 year low of $85.85 and a 1 year high of $107.75. The stock's 50-day moving average is $103.35 and its 200-day moving average is $97.96.

Consolidated Edison (NYSE:ED - Get Free Report) last posted its quarterly earnings results on Thursday, November 7th. The utilities provider reported $1.68 EPS for the quarter, beating analysts' consensus estimates of $1.56 by $0.12. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.75%. The firm had revenue of $4.09 billion for the quarter, compared to analysts' expectations of $4.02 billion. As a group, research analysts expect that Consolidated Edison, Inc. will post 5.33 EPS for the current year.

Consolidated Edison Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Wednesday, November 13th will be issued a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date of this dividend is Wednesday, November 13th. Consolidated Edison's payout ratio is 62.52%.

Analysts Set New Price Targets

Several equities analysts have recently commented on ED shares. UBS Group upped their price objective on shares of Consolidated Edison from $105.00 to $106.00 and gave the company a "neutral" rating in a research note on Friday, September 20th. Bank of America upped their price objective on shares of Consolidated Edison from $97.00 to $109.00 and gave the company a "buy" rating in a research note on Monday, August 5th. Jefferies Financial Group began coverage on shares of Consolidated Edison in a research note on Wednesday, October 9th. They issued a "hold" rating and a $108.00 price target for the company. Citigroup raised shares of Consolidated Edison from a "neutral" rating to a "buy" rating and increased their price target for the stock from $103.00 to $116.00 in a research note on Tuesday, October 15th. Finally, Wells Fargo & Company increased their price target on shares of Consolidated Edison from $97.00 to $105.00 and gave the stock an "equal weight" rating in a research note on Friday, August 2nd. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $98.35.

Consolidated Edison 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.