Assetmark Inc. Purchases 8,818 Shares of Consolidated Edison, Inc. (NYSE:ED)

Assetmark Inc. raised its position in Consolidated Edison, Inc. (NYSE:ED) by 1.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 604,376 shares of the utilities provider’s stock after purchasing an additional 8,818 shares during the quarter. Assetmark Inc.’s holdings in Consolidated Edison were worth $53,929,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of ED. TD Private Client Wealth LLC increased its stake in shares of Consolidated Edison by 4.7% in the third 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 during the period. Jacobi Capital Management LLC increased its stake in shares of Consolidated Edison by 4.2% in the fourth quarter. Jacobi Capital Management LLC now owns 2,569 shares of the utilities provider’s stock valued at $229,000 after buying an additional 104 shares during the period. D.A. Davidson & CO. increased its stake in shares of Consolidated Edison by 1.1% in the third 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 during the period. Townsquare Capital LLC increased its stake in shares of Consolidated Edison by 2.4% in the third 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 during the period. Finally, Trust Point Inc. increased its stake in shares of Consolidated Edison by 4.9% in the fourth 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 during the period. 66.29% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on ED shares. Scotiabank increased their price target on Consolidated Edison from $100.00 to $101.00 and gave the company a “sector perform” rating in a research note on Monday, February 24th. Evercore ISI cut Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 21st. Mizuho increased 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. UBS Group raised their target price on Consolidated Edison from $105.00 to $110.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 25th. Finally, Morgan Stanley decreased 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. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $101.50.

Consolidated Edison Trading Down 1.9 %

ED opened at $100.18 on Thursday. The business has a 50 day simple moving average of $93.89 and a two-hundred day simple moving average of $98.00. The firm has a market capitalization of $34.73 billion, a price-to-earnings ratio of 19.12, a PEG ratio of 3.05 and a beta of 0.39. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93. Consolidated Edison, Inc. has a one year low of $87.16 and a one year high of $107.75.

Consolidated Edison (NYSE:ED) last posted 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 firm 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%. Analysts predict that Consolidated Edison, Inc. will post 5.62 EPS for the current year.

Consolidated Edison Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Wednesday, February 19th will be given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date of this dividend is Wednesday, February 19th. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.83. Consolidated Edison’s dividend payout ratio (DPR) is 64.89%.

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.