Consolidated Edison, Inc. (NYSE:ED) Stock Position Lifted by O Shaughnessy Asset Management LLC

O Shaughnessy Asset Management LLC boosted its stake in Consolidated Edison, Inc. (NYSE:ED - Free Report) by 4.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 67,504 shares of the utilities provider's stock after purchasing an additional 2,916 shares during the period. O Shaughnessy Asset Management LLC's holdings in Consolidated Edison were worth $6,023,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. United Bank acquired a new position in shares of Consolidated Edison during the third quarter worth $227,000. FMR LLC lifted its holdings in Consolidated Edison by 82.3% in the 3rd quarter. FMR LLC now owns 1,268,424 shares of the utilities provider's stock worth $132,081,000 after buying an additional 572,530 shares in the last quarter. Townsquare Capital LLC boosted its position in Consolidated Edison by 2.4% in the 3rd quarter. Townsquare Capital LLC now owns 5,574 shares of the utilities provider's stock valued at $580,000 after buying an additional 130 shares during the last quarter. CreativeOne Wealth LLC grew its stake in shares of Consolidated Edison by 11.9% during the third quarter. CreativeOne Wealth LLC now owns 3,415 shares of the utilities provider's stock valued at $356,000 after acquiring an additional 363 shares in the last quarter. Finally, Verition Fund Management LLC grew its stake in shares of Consolidated Edison by 231.1% during the third quarter. Verition Fund Management LLC now owns 15,382 shares of the utilities provider's stock valued at $1,602,000 after acquiring an additional 10,736 shares in the last quarter. 66.29% of the stock is owned by hedge funds and other institutional investors.

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Consolidated Edison Stock Performance

ED stock traded down $3.19 during midday trading on Friday, reaching $109.53. The company had a trading volume of 6,395,484 shares, compared to its average volume of 2,182,709. The firm has a market capitalization of $39.45 billion, a PE ratio of 20.90, a P/E/G ratio of 3.05 and a beta of 0.27. The stock has a 50 day moving average price of $101.43 and a 200 day moving average price of $98.70. Consolidated Edison, Inc. has a fifty-two week low of $87.28 and a fifty-two week high of $114.87. 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 released its quarterly earnings data 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 business had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.63 billion. Analysts anticipate that Consolidated Edison, Inc. will post 5.62 earnings per share for the current year.

Consolidated Edison Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Wednesday, February 19th were issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.10%. 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 dividend payout ratio (DPR) is 64.89%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on ED shares. Mizuho upped their target price on Consolidated Edison from $92.00 to $95.00 and gave the company a "neutral" rating in a research report on Monday, February 3rd. Morgan Stanley increased their price objective on shares of Consolidated Edison from $85.00 to $91.00 and gave the company an "underweight" rating in a research note on Thursday, March 20th. UBS Group raised their price objective on shares of Consolidated Edison from $110.00 to $113.00 and gave the stock a "neutral" rating in a report on Friday, March 21st. Barclays upped their target price on shares of Consolidated Edison from $92.00 to $95.00 and gave the company an "underweight" rating in a research note on Monday, February 24th. Finally, Evercore ISI downgraded Consolidated Edison from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, January 21st. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $102.40.

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.