SWS Partners Has $1.84 Million Stock Holdings in Consolidated Edison, Inc. (NYSE:ED)

SWS Partners increased its position in shares of Consolidated Edison, Inc. (NYSE:ED) by 11.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,563 shares of the utilities provider’s stock after acquiring an additional 2,150 shares during the period. SWS Partners’ holdings in Consolidated Edison were worth $1,835,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. State Street Corp grew its position in Consolidated Edison by 1.7% in the third quarter. State Street Corp now owns 23,429,218 shares of the utilities provider’s stock worth $2,439,684,000 after acquiring an additional 399,034 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Consolidated Edison by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 8,853,788 shares of the utilities provider’s stock valued at $919,041,000 after purchasing an additional 107,281 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Consolidated Edison by 3.6% in the fourth 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 in the last quarter. JPMorgan Chase & Co. increased its position 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 worth $223,373,000 after buying an additional 82,985 shares during the last quarter. Finally, Allianz Asset Management GmbH raised its holdings in Consolidated Edison by 13.8% during the fourth quarter. Allianz Asset Management GmbH now owns 1,847,034 shares of the utilities provider’s stock valued at $164,811,000 after buying an additional 224,258 shares in the last quarter. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Stock Performance

NYSE ED opened at $104.09 on Tuesday. The company’s fifty day moving average is $93.42 and its two-hundred day moving average is $97.97. Consolidated Edison, Inc. has a 52-week low of $86.56 and a 52-week high of $107.75. 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 firm has a market capitalization of $36.09 billion, a price-to-earnings ratio of 19.86, a P/E/G ratio of 3.05 and a beta of 0.39.

Consolidated Edison (NYSE:ED) last released its 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 for the quarter, compared to the consensus estimate of $3.63 billion. Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. Equities research analysts forecast 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. Investors of record on Wednesday, February 19th will be paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.27%. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend is Wednesday, February 19th. Consolidated Edison’s dividend payout ratio is presently 64.89%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ED. Morgan Stanley decreased their price target 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. Mizuho increased their price target on Consolidated Edison from $92.00 to $95.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. UBS Group lifted their price target on shares of 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 shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 21st. Finally, 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 report on Monday, February 24th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Consolidated Edison has an average rating of “Hold” and a consensus price target of $101.50.

Consolidated Edison Company 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.