NewEdge Advisors LLC increased its position in shares of Consolidated Edison, Inc. (NYSE:ED - Free Report) by 33.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 21,584 shares of the utilities provider's stock after buying an additional 5,387 shares during the quarter. NewEdge Advisors LLC's holdings in Consolidated Edison were worth $1,926,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Barclays PLC grew its holdings in shares of Consolidated Edison by 30.1% during the third quarter. Barclays PLC now owns 1,231,924 shares of the utilities provider's stock valued at $128,279,000 after buying an additional 285,115 shares during the last quarter. World Investment Advisors LLC acquired a new position in Consolidated Edison during the 3rd quarter valued at about $453,000. Sfmg LLC bought a new stake in Consolidated Edison during the 3rd quarter worth approximately $208,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Consolidated Edison in the third quarter worth approximately $776,000. Finally, Tidal Investments LLC lifted its holdings in shares of Consolidated Edison by 4.5% in the third quarter. Tidal Investments LLC now owns 6,437 shares of the utilities provider's stock valued at $670,000 after purchasing an additional 276 shares in the last quarter. Institutional investors own 66.29% of the company's stock.
Consolidated Edison Stock Up 2.1 %
Consolidated Edison stock opened at $113.28 on Wednesday. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07. The company has a market capitalization of $40.80 billion, a P/E ratio of 21.62, a P/E/G ratio of 3.05 and a beta of 0.27. The firm has a 50 day moving average price of $105.44 and a 200-day moving average price of $99.32. Consolidated Edison, Inc. has a twelve month low of $87.28 and a twelve month high of $114.87.
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, topping analysts' consensus estimates of $0.97 by $0.01. The business had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.63 billion. Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. As a group, equities analysts predict that Consolidated Edison, Inc. will post 5.62 EPS for the current year.
Consolidated Edison Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Wednesday, May 14th will be given a dividend of $0.85 per share. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $3.40 dividend on an annualized basis and a yield of 3.00%. Consolidated Edison's dividend payout ratio is presently 64.89%.
Wall Street Analyst Weigh In
Several equities research analysts recently issued reports on the company. Scotiabank upped their price target on Consolidated Edison from $100.00 to $101.00 and gave the stock a "sector perform" rating in a report on Monday, February 24th. Barclays upped their target price on shares of Consolidated Edison from $95.00 to $100.00 and gave the stock an "underweight" rating in a research note on Tuesday. Evercore ISI lowered shares of Consolidated Edison from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, January 21st. Citigroup upped their price objective on shares of Consolidated Edison from $116.00 to $120.00 and gave the stock a "buy" rating in a research report on Wednesday, April 9th. Finally, Mizuho increased their price objective on shares of Consolidated Edison from $92.00 to $95.00 and gave the company a "neutral" rating in a research note on Monday, February 3rd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $103.30.
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About Consolidated Edison
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Free Report)
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.
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