Mariner LLC Boosts Holdings in Consolidated Edison, Inc. (NYSE:ED)

Mariner LLC raised its position in Consolidated Edison, Inc. (NYSE:ED - Free Report) by 9.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 103,336 shares of the utilities provider's stock after acquiring an additional 8,491 shares during the quarter. Mariner LLC's holdings in Consolidated Edison were worth $9,221,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of ED. AlphaMark Advisors LLC purchased a new stake in Consolidated Edison in the fourth quarter worth about $27,000. OFI Invest Asset Management purchased a new stake in shares of Consolidated Edison during the fourth quarter valued at approximately $35,000. Fairway Wealth LLC bought a new position in Consolidated Edison in the 4th quarter valued at approximately $36,000. Centricity Wealth Management LLC purchased a new stake in Consolidated Edison during the 4th quarter valued at $39,000. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of Consolidated Edison in the 4th quarter worth $44,000. 66.29% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Barclays increased their price objective on Consolidated Edison from $95.00 to $100.00 and gave the company an "underweight" rating in a research report on Tuesday. Morgan Stanley boosted their price objective on shares of Consolidated Edison from $85.00 to $91.00 and gave the company an "underweight" rating in a report on Thursday, March 20th. Evercore ISI downgraded shares of Consolidated Edison from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, January 21st. Scotiabank lifted their target price on shares of 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 increased their price target on Consolidated Edison from $116.00 to $120.00 and gave the company a "buy" rating in a report on Wednesday, April 9th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $103.30.

Consolidated Edison Price Performance

ED traded down $0.64 during trading on Thursday, reaching $111.88. The company's stock had a trading volume of 567,876 shares, compared to its average volume of 2,191,547. 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 $87.28 and a 1 year high of $114.87. The firm has a fifty day simple moving average of $105.80 and a two-hundred day simple moving average of $99.41. The company has a market cap of $40.30 billion, a price-to-earnings ratio of 21.35, a PEG ratio of 3.05 and a beta of 0.27.

Consolidated Edison (NYSE:ED - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The utilities provider reported $0.98 earnings per share for the quarter, topping 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 company had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.63 billion. As a group, analysts anticipate that Consolidated Edison, Inc. will post 5.62 EPS for the current year.

Consolidated Edison Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Wednesday, May 14th will be issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date is Wednesday, May 14th. Consolidated Edison's dividend payout ratio is presently 64.89%.

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.