QRG Capital Management Inc. Decreases Stake in Consolidated Edison, Inc. (NYSE:ED)

QRG Capital Management Inc. trimmed its position in shares of Consolidated Edison, Inc. (NYSE:ED - Free Report) by 1.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 346,153 shares of the utilities provider's stock after selling 6,669 shares during the period. QRG Capital Management Inc. owned approximately 0.10% of Consolidated Edison worth $30,887,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp raised its position in Consolidated Edison by 1.7% during 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 purchasing an additional 399,034 shares during the period. Geode Capital Management LLC raised its holdings 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 buying an additional 107,281 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Consolidated Edison by 1.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,148,666 shares of the utilities provider's stock worth $223,741,000 after buying an additional 28,254 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Consolidated Edison by 4.0% during the third quarter. JPMorgan Chase & Co. now owns 2,145,128 shares of the utilities provider's stock worth $223,373,000 after buying an additional 82,985 shares during the period. Finally, Allianz Asset Management GmbH increased its position in Consolidated Edison by 13.8% during the fourth quarter. Allianz Asset Management GmbH now owns 1,847,034 shares of the utilities provider's stock valued at $164,811,000 after acquiring an additional 224,258 shares during the last quarter. 66.29% of the stock is currently owned by institutional investors.

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Analysts Set New Price Targets

A number of equities analysts recently commented on ED shares. Barclays lifted their price target on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock an "underweight" rating in a research note on Monday, February 24th. Scotiabank upped their target price on Consolidated Edison from $100.00 to $101.00 and gave the company a "sector perform" rating in a research note on Monday, February 24th. Morgan Stanley dropped their price objective on Consolidated Edison from $88.00 to $85.00 and set an "underweight" rating for the company in a report on Friday, November 22nd. UBS Group raised their price target 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. Finally, Mizuho boosted 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. Two 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 company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $101.50.

Consolidated Edison Stock Up 2.5 %

Shares of ED stock traded up $2.57 during mid-day trading on Monday, hitting $104.09. 3,551,235 shares of the stock traded hands, compared to its average volume of 2,606,499. Consolidated Edison, Inc. has a 52-week low of $86.56 and a 52-week high of $107.75. The stock has a market cap of $36.09 billion, a P/E ratio of 19.86, a P/E/G ratio of 3.05 and a beta of 0.39. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93. The stock's fifty day moving average is $93.13 and its two-hundred day moving average is $97.93.

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. Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. The firm had revenue of $3.67 billion during the quarter, compared to analysts' expectations of $3.63 billion. Equities analysts predict that Consolidated Edison, Inc. will post 5.62 EPS for the current year.

Consolidated Edison Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Wednesday, February 19th will be paid a $0.85 dividend. The ex-dividend date is Wednesday, February 19th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.27%. This is a positive change from Consolidated Edison's previous quarterly dividend of $0.83. 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.