Windle Wealth LLC Grows Stock Position in Consolidated Edison, Inc. (NYSE:ED)

Windle Wealth LLC grew its holdings in Consolidated Edison, Inc. (NYSE:ED - Free Report) by 5.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 72,568 shares of the utilities provider's stock after acquiring an additional 3,443 shares during the period. Consolidated Edison comprises approximately 3.6% of Windle Wealth LLC's holdings, making the stock its 21st biggest holding. Windle Wealth LLC's holdings in Consolidated Edison were worth $6,475,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. State Street Corp increased its stake in shares of Consolidated Edison by 1.7% in 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 stake in shares of 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 worth $919,041,000 after purchasing an additional 107,281 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Consolidated Edison by 3.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,225,989 shares of the utilities provider's stock worth $198,625,000 after purchasing an additional 77,323 shares during the last quarter. Amundi lifted its position in shares of Consolidated Edison by 12.2% in the fourth quarter. Amundi now owns 2,221,729 shares of the utilities provider's stock worth $197,795,000 after buying an additional 242,243 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings 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 valued at $223,373,000 after purchasing an additional 82,985 shares during the last quarter. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on ED. UBS Group upped their target price on shares of Consolidated Edison from $105.00 to $110.00 and gave the company a "neutral" rating in a research note on Tuesday, February 25th. 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 note on Friday, November 22nd. Scotiabank increased their price target on shares of Consolidated Edison from $100.00 to $101.00 and gave the stock a "sector perform" rating in a research report on Monday, February 24th. Evercore ISI lowered Consolidated Edison from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, January 21st. Finally, Mizuho boosted their price target on 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 assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Consolidated Edison currently has an average rating of "Hold" and an average price target of $101.50.

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Consolidated Edison Stock Performance

NYSE ED opened at $103.85 on Wednesday. Consolidated Edison, Inc. has a 52-week low of $87.16 and a 52-week high of $107.97. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01. The company has a 50-day simple moving average of $95.04 and a 200 day simple moving average of $98.07. The company has a market capitalization of $36.01 billion, a PE ratio of 19.82, a price-to-earnings-growth ratio of 3.05 and a beta of 0.30.

Consolidated Edison (NYSE:ED - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The utilities provider reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.01. The firm had revenue of $3.67 billion for the quarter, compared to analysts' expectations of $3.63 billion. Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. On average, research analysts predict that Consolidated Edison, Inc. will post 5.62 EPS for the current year.

Consolidated Edison Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th will be given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 3.27%. This is a boost from Consolidated Edison's previous quarterly dividend of $0.83. The ex-dividend date is Wednesday, February 19th. Consolidated Edison's payout ratio is presently 64.89%.

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.

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