US Bancorp DE Has $4.76 Million Stock Holdings in Consolidated Edison, Inc. (NYSE:ED)

US Bancorp DE cut its holdings in shares of Consolidated Edison, Inc. (NYSE:ED - Free Report) by 18.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 53,373 shares of the utilities provider's stock after selling 12,040 shares during the quarter. US Bancorp DE's holdings in Consolidated Edison were worth $4,763,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. TD Private Client Wealth LLC grew its holdings in Consolidated Edison by 4.7% in the 3rd quarter. TD Private Client Wealth LLC now owns 2,334 shares of the utilities provider's stock valued at $243,000 after buying an additional 104 shares in the last quarter. D.A. Davidson & CO. grew its holdings in Consolidated Edison by 1.1% in the 3rd quarter. D.A. Davidson & CO. now owns 11,142 shares of the utilities provider's stock valued at $1,160,000 after buying an additional 124 shares in the last quarter. Townsquare Capital LLC grew its holdings 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 in the last quarter. Trust Point Inc. grew its holdings in Consolidated Edison by 4.9% in the 4th quarter. Trust Point Inc. now owns 2,790 shares of the utilities provider's stock valued at $249,000 after buying an additional 131 shares in the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund grew its holdings in Consolidated Edison by 1.3% in the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 10,372 shares of the utilities provider's stock valued at $925,000 after buying an additional 133 shares in the last quarter. 66.29% of the stock is owned by institutional investors and hedge funds.

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Consolidated Edison Price Performance

Shares of ED stock traded up $2.82 on Friday, hitting $103.73. 2,865,756 shares of the company's stock were exchanged, compared to its average volume of 2,740,435. Consolidated Edison, Inc. has a 12 month low of $87.16 and a 12 month high of $107.75. The company has a 50 day moving average of $94.39 and a 200 day moving average of $98.03. 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 has a market cap of $35.97 billion, a P/E ratio of 19.80, a price-to-earnings-growth ratio of 3.05 and a beta of 0.30.

Consolidated Edison (NYSE:ED - Get Free Report) last issued 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. 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 analysts' expectations of $3.63 billion. On average, equities research analysts predict that Consolidated Edison, Inc. will post 5.62 EPS for the current year.

Consolidated Edison Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th will be issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 3.28%. The ex-dividend date of this dividend is Wednesday, February 19th. This is a boost from Consolidated Edison's previous quarterly dividend of $0.83. Consolidated Edison's dividend payout ratio is presently 64.89%.

Wall Street Analysts Forecast Growth

ED has been the subject of a number of recent analyst reports. UBS Group upped their target price on Consolidated Edison from $105.00 to $110.00 and gave the company a "neutral" rating in a research report on Tuesday, February 25th. Evercore ISI downgraded Consolidated Edison from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, January 21st. 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 cut their target price on Consolidated Edison from $88.00 to $85.00 and set an "underweight" rating for the company in a research report on Friday, November 22nd. Finally, 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 report on Monday, February 24th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $101.50.

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.