National Pension Service Cuts Stake in Consolidated Edison, Inc. (NYSE:ED)

National Pension Service reduced its position in Consolidated Edison, Inc. (NYSE:ED - Free Report) by 7.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 431,337 shares of the utilities provider's stock after selling 37,235 shares during the quarter. National Pension Service owned about 0.12% of Consolidated Edison worth $38,488,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ED. State Street Corp raised its position in shares of Consolidated Edison by 1.7% in the third quarter. State Street Corp now owns 23,429,218 shares of the utilities provider's stock valued at $2,439,684,000 after buying an additional 399,034 shares during the last quarter. Geode Capital Management LLC grew its stake in Consolidated Edison by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 8,853,788 shares of the utilities provider's stock valued at $919,041,000 after acquiring an additional 107,281 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Consolidated Edison by 1.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,148,666 shares of the utilities provider's stock valued at $223,741,000 after acquiring an additional 28,254 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Consolidated Edison by 4.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,145,128 shares of the utilities provider's stock worth $223,373,000 after purchasing an additional 82,985 shares in the last quarter. Finally, Allianz Asset Management GmbH boosted its holdings in shares of Consolidated Edison by 13.8% during the 4th quarter. Allianz Asset Management GmbH now owns 1,847,034 shares of the utilities provider's stock worth $164,811,000 after purchasing an additional 224,258 shares during the last quarter. Hedge funds and other institutional investors own 66.29% of the company's stock.

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Consolidated Edison Trading Down 0.7 %

ED stock traded down $0.74 during mid-day trading on Tuesday, hitting $103.28. 1,927,931 shares of the company were exchanged, compared to its average volume of 2,588,551. Consolidated Edison, Inc. has a 12-month low of $87.16 and a 12-month high of $107.75. The firm has a market capitalization of $35.81 billion, a P/E ratio of 19.69, a PEG ratio of 3.05 and a beta of 0.39. The business has a fifty day simple moving average of $93.42 and a 200-day simple moving average of $97.97. 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 (NYSE:ED - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The utilities provider reported $0.98 earnings per share for the quarter, topping analysts' consensus estimates of $0.97 by $0.01. The firm had revenue of $3.67 billion during the quarter, compared to analysts' expectations of $3.63 billion. Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. On average, equities research analysts predict that Consolidated Edison, Inc. will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Wednesday, February 19th will be paid a dividend of $0.85 per share. This is a positive change from Consolidated Edison's previous quarterly dividend of $0.83. The ex-dividend date is Wednesday, February 19th. This represents a $3.40 annualized dividend and a yield of 3.29%. Consolidated Edison's dividend payout ratio is presently 64.89%.

Analyst Ratings Changes

ED has been the subject of several recent research reports. Mizuho increased their price target on Consolidated Edison from $92.00 to $95.00 and gave the company a "neutral" rating in a report on Monday, February 3rd. Evercore ISI downgraded Consolidated Edison from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, January 21st. Barclays boosted their price target on shares of Consolidated Edison from $92.00 to $95.00 and gave the company an "underweight" rating in a research report on Monday, February 24th. Morgan Stanley dropped their price objective on shares of Consolidated Edison from $88.00 to $85.00 and set an "underweight" rating for the company in a report on Friday, November 22nd. Finally, UBS Group lifted their target price on shares of Consolidated Edison from $105.00 to $110.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 25th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $101.50.

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.