Te Ahumairangi Investment Management Ltd Increases Stock Position in Consolidated Edison, Inc. (NYSE:ED)

Te Ahumairangi Investment Management Ltd raised its stake in shares of Consolidated Edison, Inc. (NYSE:ED - Free Report) by 5.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 72,698 shares of the utilities provider's stock after buying an additional 4,012 shares during the quarter. Consolidated Edison comprises about 1.4% of Te Ahumairangi Investment Management Ltd's investment portfolio, making the stock its 21st biggest holding. Te Ahumairangi Investment Management Ltd's holdings in Consolidated Edison were worth $6,487,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of ED. AlphaMark Advisors LLC purchased a new position in Consolidated Edison in the 4th quarter worth approximately $27,000. Fairway Wealth LLC bought a new stake in shares of Consolidated Edison in the 4th quarter worth $36,000. OFI Invest Asset Management purchased a new position in shares of Consolidated Edison in the fourth quarter worth $35,000. Centricity Wealth Management LLC bought a new position in shares of Consolidated Edison during the fourth quarter valued at $39,000. Finally, Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of Consolidated Edison during the fourth quarter valued at $44,000. 66.29% of the stock is owned by hedge funds and other institutional investors.

Consolidated Edison Stock Performance

Shares of NYSE:ED traded down $3.19 during mid-day trading on Friday, reaching $109.53. 6,395,484 shares of the company traded hands, compared to its average volume of 2,182,709. The company's 50 day moving average price is $101.43 and its 200-day moving average price is $98.73. The firm has a market cap of $39.45 billion, a PE ratio of 20.90, a PEG ratio of 3.05 and a beta of 0.27. Consolidated Edison, Inc. has a 52 week low of $87.28 and a 52 week high of $114.87. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93.

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Consolidated Edison (NYSE:ED - Get Free Report) last posted its quarterly earnings results 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 business had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.63 billion. Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. On average, equities analysts expect that Consolidated Edison, Inc. will post 5.62 EPS for the current fiscal year.

Consolidated Edison Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Wednesday, February 19th were paid a $0.85 dividend. This is a positive change from Consolidated Edison's previous quarterly dividend of $0.83. The ex-dividend date was Wednesday, February 19th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.10%. Consolidated Edison's dividend payout ratio is 64.89%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ED. Evercore ISI lowered Consolidated Edison from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, January 21st. UBS Group increased 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. Barclays lifted their target price on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock an "underweight" rating in a research report on Monday, February 24th. Scotiabank raised their price target on Consolidated Edison from $100.00 to $101.00 and gave the stock a "sector perform" rating in a research note on Monday, February 24th. Finally, Mizuho upped their price objective on Consolidated Edison from $92.00 to $95.00 and gave the company a "neutral" rating in a research report on Monday, February 3rd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Consolidated Edison has a consensus 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.