Consolidated Edison, Inc. (NYSE:ED) Shares Acquired by Baillie Gifford & Co.

Baillie Gifford & Co. grew its holdings in Consolidated Edison, Inc. (NYSE:ED) by 69.0% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 11,628 shares of the utilities provider’s stock after buying an additional 4,748 shares during the quarter. Baillie Gifford & Co.’s holdings in Consolidated Edison were worth $1,058,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Retirement Group LLC grew its holdings in shares of Consolidated Edison by 74.8% in the fourth quarter. Retirement Group LLC now owns 271 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 116 shares during the period. Financial Gravity Asset Management Inc. grew its holdings in shares of Consolidated Edison by 215.6% in the third quarter. Financial Gravity Asset Management Inc. now owns 284 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 194 shares during the period. Level Financial Advisors Inc. purchased a new stake in shares of Consolidated Edison in the third quarter valued at about $26,000. Tyler Stone Wealth Management purchased a new stake in shares of Consolidated Edison in the second quarter valued at about $28,000. Finally, Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Consolidated Edison in the fourth quarter valued at about $29,000. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Consolidated Edison Stock Down 0.4 %

Shares of NYSE:ED opened at $88.55 on Friday. The firm’s 50 day moving average price is $88.96 and its 200 day moving average price is $89.47. The stock has a market cap of $30.59 billion, a price-to-earnings ratio of 12.33, a price-to-earnings-growth ratio of 8.54 and a beta of 0.35. Consolidated Edison, Inc. has a fifty-two week low of $80.46 and a fifty-two week high of $100.92. The company has a quick ratio of 0.94, a current ratio of 1.01 and a debt-to-equity ratio of 1.04.

Consolidated Edison (NYSE:ED) last issued its earnings results on Thursday, February 15th. The utilities provider reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.02. The firm had revenue of $3.44 billion for the quarter, compared to analysts’ expectations of $3.70 billion. Consolidated Edison had a net margin of 17.19% and a return on equity of 8.41%. The firm’s revenue was down 14.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.81 earnings per share. As a group, equities research analysts predict that Consolidated Edison, Inc. will post 5.3 earnings per share for the current fiscal year.

Consolidated Edison Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Wednesday, February 14th were issued a dividend of $0.83 per share. The ex-dividend date of this dividend was Tuesday, February 13th. This represents a $3.32 dividend on an annualized basis and a yield of 3.75%. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.81. Consolidated Edison’s dividend payout ratio (DPR) is presently 46.24%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. UBS Group dropped their price objective on shares of Consolidated Edison from $99.00 to $94.00 and set a “neutral” rating for the company in a report on Friday, February 16th. LADENBURG THALM/SH SH initiated coverage on shares of Consolidated Edison in a report on Wednesday, January 3rd. They issued a “neutral” rating and a $92.50 price objective for the company. Scotiabank increased their target price on shares of Consolidated Edison from $90.00 to $91.00 and gave the stock a “sector underperform” rating in a research note on Tuesday, February 20th. Barclays increased their target price on shares of Consolidated Edison from $86.00 to $87.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 14th. Finally, KeyCorp raised shares of Consolidated Edison from an “underweight” rating to a “sector weight” rating in a research note on Thursday, January 4th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Consolidated Edison presently has a consensus rating of “Hold” and an average target price of $87.96.

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.