Consolidated Edison, Inc. (NYSE:ED) Stake Boosted by Martingale Asset Management L P

Martingale Asset Management L P lifted its holdings in shares of Consolidated Edison, Inc. (NYSE:ED - Free Report) by 32.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 200,266 shares of the utilities provider's stock after buying an additional 49,364 shares during the period. Martingale Asset Management L P owned approximately 0.06% of Consolidated Edison worth $17,870,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in ED. AlphaMark Advisors LLC acquired a new position in Consolidated Edison during the 4th quarter worth $27,000. OFI Invest Asset Management acquired a new stake in Consolidated Edison in the fourth quarter worth about $35,000. Fairway Wealth LLC acquired a new stake in Consolidated Edison in the fourth quarter worth about $36,000. Centricity Wealth Management LLC bought a new position in Consolidated Edison in the 4th quarter valued at about $39,000. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new position in Consolidated Edison during the 4th quarter valued at about $44,000. 66.29% of the stock is owned by institutional investors.

Consolidated Edison Trading Up 1.6 %

Shares of NYSE:ED traded up $1.75 during mid-day trading on Monday, hitting $111.59. The stock had a trading volume of 550,495 shares, compared to its average volume of 2,220,544. The company's 50 day moving average is $103.19 and its 200-day moving average is $98.91. Consolidated Edison, Inc. has a 12-month low of $87.28 and a 12-month high of $114.87. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01. The company has a market cap of $40.19 billion, a PE ratio of 21.30, a P/E/G ratio of 3.05 and a beta of 0.27.

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Consolidated Edison (NYSE:ED - Get Free Report) last released its earnings results on Thursday, February 20th. The utilities provider reported $0.98 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $3.63 billion. On average, sell-side analysts predict that Consolidated Edison, Inc. will post 5.62 EPS for the current year.

Consolidated Edison Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th were paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 3.05%. The ex-dividend date of this dividend was Wednesday, February 19th. This is a boost from Consolidated Edison's previous quarterly dividend of $0.83. Consolidated Edison's payout ratio is 64.89%.

Wall Street Analysts Forecast Growth

ED has been the subject of several recent analyst reports. Barclays increased their price objective on shares of Consolidated Edison from $92.00 to $95.00 and gave the company an "underweight" rating in a report on Monday, February 24th. UBS Group lifted their price target on Consolidated Edison from $110.00 to $113.00 and gave the company a "neutral" rating in a research report on Friday, March 21st. Citigroup raised their target price on Consolidated Edison from $116.00 to $120.00 and gave the company a "buy" rating in a research note on Wednesday, April 9th. Scotiabank boosted their price target 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, Mizuho raised their price objective on shares of Consolidated Edison from $92.00 to $95.00 and gave the company a "neutral" rating in a research report on Monday, February 3rd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $102.80.

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.