Consolidated Edison, Inc. (NYSE:ED) Shares Purchased by Sterling Capital Management LLC

Sterling Capital Management LLC increased its stake in shares of Consolidated Edison, Inc. (NYSE:ED - Free Report) by 53.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 21,169 shares of the utilities provider's stock after purchasing an additional 7,358 shares during the period. Sterling Capital Management LLC's holdings in Consolidated Edison were worth $1,889,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Wilmington Savings Fund Society FSB bought a new position in shares of Consolidated Edison in the third quarter worth approximately $776,000. JPMorgan Chase & Co. increased 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 acquiring an additional 82,985 shares during the last quarter. Hennessy Advisors Inc. raised its stake in Consolidated Edison by 2.8% during the fourth quarter. Hennessy Advisors Inc. now owns 143,136 shares of the utilities provider's stock valued at $12,772,000 after purchasing an additional 3,900 shares in the last quarter. Gateway Investment Advisers LLC lifted its holdings in shares of Consolidated Edison by 102.7% in the 4th quarter. Gateway Investment Advisers LLC now owns 430,279 shares of the utilities provider's stock valued at $38,394,000 after acquiring an additional 217,981 shares during the last quarter. Finally, Jones Financial Companies Lllp lifted its stake in shares of Consolidated Edison by 81.4% in the 4th quarter. Jones Financial Companies Lllp now owns 9,921 shares of the utilities provider's stock valued at $885,000 after purchasing an additional 4,451 shares during the last quarter. 66.29% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. UBS Group boosted their price objective on shares of Consolidated Edison from $110.00 to $113.00 and gave the company a "neutral" rating in a research report on Friday, March 21st. Morgan Stanley raised their price objective on shares of Consolidated Edison from $85.00 to $91.00 and gave the stock an "underweight" rating in a research note on Thursday, March 20th. Evercore ISI cut Consolidated Edison from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, January 21st. Barclays boosted their price objective on Consolidated Edison from $92.00 to $95.00 and gave the company an "underweight" rating in a report on Monday, February 24th. Finally, Mizuho boosted their target price 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 equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Consolidated Edison has a consensus rating of "Hold" and an average target price of $102.80.

Consolidated Edison Stock Up 0.4 %

NYSE ED traded up $0.50 during midday trading on Friday, hitting $111.94. 2,055,237 shares of the company traded hands, compared to its average volume of 2,217,115. Consolidated Edison, Inc. has a 52 week low of $87.28 and a 52 week high of $114.87. The company's 50-day simple moving average is $104.76 and its 200-day simple moving average is $99.24. The company has a market cap of $40.32 billion, a PE ratio of 21.36, a price-to-earnings-growth ratio of 3.05 and a beta of 0.27. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93.

Consolidated Edison (NYSE:ED - Get Free Report) last posted its earnings results on Thursday, February 20th. The utilities provider reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.01. The company had revenue of $3.67 billion for the quarter, compared to analyst estimates 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 research analysts forecast that Consolidated Edison, Inc. will post 5.62 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Wednesday, May 14th will be given a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 3.04%. 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.