Consolidated Edison, Inc. (NYSE:ED) Stake Raised by Mutual Advisors LLC

Mutual Advisors LLC boosted its holdings in Consolidated Edison, Inc. (NYSE:ED – Get Rating) by 17.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,700 shares of the utilities provider’s stock after acquiring an additional 1,010 shares during the quarter. Mutual Advisors LLC’s holdings in Consolidated Edison were worth $575,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ED. Lazard Asset Management LLC raised its holdings in Consolidated Edison by 8.7% during the 2nd quarter. Lazard Asset Management LLC now owns 6,885,619 shares of the utilities provider’s stock worth $654,821,000 after buying an additional 550,853 shares during the period. Los Angeles Capital Management LLC raised its holdings in Consolidated Edison by 902.1% during the 2nd quarter. Los Angeles Capital Management LLC now owns 453,569 shares of the utilities provider’s stock worth $43,134,000 after buying an additional 408,308 shares during the period. Renaissance Technologies LLC raised its holdings in Consolidated Edison by 97.0% during the 2nd quarter. Renaissance Technologies LLC now owns 694,668 shares of the utilities provider’s stock worth $66,063,000 after buying an additional 342,000 shares during the period. Amundi raised its holdings in Consolidated Edison by 25.8% during the 2nd quarter. Amundi now owns 1,601,465 shares of the utilities provider’s stock worth $150,230,000 after buying an additional 328,235 shares during the period. Finally, Assetmark Inc. raised its holdings in Consolidated Edison by 12,211.9% during the 3rd quarter. Assetmark Inc. now owns 258,303 shares of the utilities provider’s stock worth $22,152,000 after buying an additional 256,205 shares during the period. 64.95% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ED has been the topic of several recent analyst reports. UBS Group boosted their price objective on Consolidated Edison to $96.00 in a report on Monday, November 21st. Mizuho downgraded Consolidated Edison from a “buy” rating to a “neutral” rating and upped their target price for the company from $91.00 to $98.00 in a report on Monday, January 9th. KeyCorp dropped their target price on Consolidated Edison from $75.00 to $69.00 and set an “underweight” rating on the stock in a report on Thursday, October 20th. Guggenheim dropped their target price on Consolidated Edison from $94.00 to $82.00 in a report on Monday, October 24th. Finally, Wells Fargo & Company upped their target price on Consolidated Edison from $87.00 to $98.00 in a report on Wednesday, December 14th. Four research analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $86.73.

Consolidated Edison Trading Up 0.5 %

Shares of NYSE ED opened at $94.05 on Wednesday. The stock has a market cap of $33.37 billion, a price-to-earnings ratio of 19.72, a PEG ratio of 9.60 and a beta of 0.34. The business has a 50 day simple moving average of $96.00 and a 200 day simple moving average of $94.07. Consolidated Edison, Inc. has a 52 week low of $78.10 and a 52 week high of $102.21. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.75 and a current ratio of 0.83.

Consolidated Edison (NYSE:ED – Get Rating) last announced its quarterly earnings results on Thursday, November 3rd. The utilities provider reported $1.63 EPS for the quarter, beating the consensus estimate of $1.47 by $0.16. The business had revenue of $4.17 billion during the quarter, compared to analysts’ expectations of $3.73 billion. Consolidated Edison had a return on equity of 8.17% and a net margin of 11.25%. On average, research analysts predict that Consolidated Edison, Inc. will post 4.56 earnings per share for the current fiscal year.

Consolidated Edison Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 15th. Investors of record on Wednesday, February 15th will be paid a $0.81 dividend. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.79. The ex-dividend date is Tuesday, February 14th. This represents a $3.24 annualized dividend and a dividend yield of 3.44%. Consolidated Edison’s payout ratio is presently 66.25%.

Consolidated Edison Company Profile

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Consolidated Edison, Inc operates as a holding company, which through its subsidiaries engages in the business of regulated electric, gas, and steam delivery. It operates through the following segments: Consolidated Edison Company of New York(CECONY), Orange and Rockland Utilities(O&R), Con Edison Clean Energy Businesses and Con Edison Transmission.