Asset Management One Co. Ltd. Boosts Stock Position in Consolidated Edison Inc (NYSE:ED)

Asset Management One Co. Ltd. lifted its holdings in Consolidated Edison Inc (NYSE:ED) by 2.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 185,671 shares of the utilities provider’s stock after purchasing an additional 4,848 shares during the quarter. Asset Management One Co. Ltd. owned 0.05% of Consolidated Edison worth $20,533,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Jacobi Capital Management LLC grew its holdings 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 purchasing an additional 104 shares in the last quarter. Glen Eagle Advisors LLC lifted its position in Consolidated Edison by 6.2% in the fourth quarter. Glen Eagle Advisors LLC now owns 1,902 shares of the utilities provider’s stock worth $170,000 after buying an additional 111 shares during the last quarter. Richwood Investment Advisors LLC lifted its position in Consolidated Edison by 2.3% in the fourth quarter. Richwood Investment Advisors LLC now owns 5,194 shares of the utilities provider’s stock worth $463,000 after buying an additional 115 shares during the last quarter. Integrated Advisors Network LLC lifted its position in Consolidated Edison by 1.6% in the first quarter. Integrated Advisors Network LLC now owns 7,842 shares of the utilities provider’s stock worth $867,000 after buying an additional 121 shares during the last quarter. Finally, Penobscot Investment Management Company Inc. lifted its position in Consolidated Edison by 5.7% in the fourth quarter. Penobscot Investment Management Company Inc. now owns 2,300 shares of the utilities provider’s stock worth $205,000 after buying an additional 125 shares during the last quarter. 66.29% of the stock is owned by hedge funds and other institutional investors.

Consolidated Edison Trading Down 2.2%

NYSE ED opened at $98.03 on Thursday. The company’s 50-day moving average price is $105.40 and its 200-day moving average price is $100.63. The company has a current ratio of 1.28, a quick ratio of 1.19 and a debt-to-equity ratio of 1.04. The stock has a market cap of $35.32 billion, a PE ratio of 18.12, a PEG ratio of 3.20 and a beta of 0.27. Consolidated Edison Inc has a 12 month low of $87.28 and a 12 month high of $114.87.

Consolidated Edison (NYSE:ED) last released its quarterly earnings data on Thursday, May 1st. The utilities provider reported $2.25 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.05). The firm had revenue of $4.80 billion during the quarter, compared to the consensus estimate of $4.21 billion. Consolidated Edison had a net margin of 11.98% and a return on equity of 8.61%. During the same quarter in the previous year, the firm earned $2.15 earnings per share. Equities research analysts forecast that Consolidated Edison Inc will post 5.62 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Wednesday, May 14th were issued a $0.85 dividend. The ex-dividend date was Wednesday, May 14th. This represents a $3.40 annualized dividend and a dividend yield of 3.47%. Consolidated Edison’s payout ratio is currently 62.85%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ED. KeyCorp downgraded Consolidated Edison from a “sector weight” rating to an “underweight” rating and set a $90.00 price target for the company. in a research report on Wednesday, May 14th. Citigroup raised their price target on Consolidated Edison from $116.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, April 9th. Barclays raised their price target on Consolidated Edison from $100.00 to $101.00 and gave the stock an “underweight” rating in a research report on Monday, May 5th. Guggenheim raised their price target on Consolidated Edison from $96.00 to $103.00 and gave the stock a “neutral” rating in a research report on Friday, May 2nd. Finally, UBS Group raised their price target on Consolidated Edison from $110.00 to $113.00 and gave the stock a “neutral” rating in a research report on Friday, March 21st. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Consolidated Edison has a consensus rating of “Hold” and an average target price of $104.18.

About Consolidated Edison

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.