Consolidated Edison, Inc. (NYSE:ED) Shares Acquired by Livforsakringsbolaget Skandia Omsesidigt

Livforsakringsbolaget Skandia Omsesidigt grew its holdings in Consolidated Edison, Inc. (NYSE:ED) by 38.7% during the 4th quarter, Holdings Channel reports. The firm owned 975 shares of the utilities provider’s stock after buying an additional 272 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Consolidated Edison were worth $89,000 at the end of the most recent reporting period.

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

Consolidated Edison Price Performance

Shares of ED stock opened at $91.77 on Friday. The firm has a market cap of $31.71 billion, a P/E ratio of 12.78, a P/E/G ratio of 8.57 and a beta of 0.35. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.01 and a quick ratio of 0.94. Consolidated Edison, Inc. has a 1-year low of $80.46 and a 1-year high of $100.92. The firm has a fifty day moving average of $88.97 and a two-hundred day moving average of $89.62.

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

Consolidated Edison Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Wednesday, May 15th will be given a $0.83 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.62%. Consolidated Edison’s payout ratio is currently 46.24%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on ED shares. UBS Group cut their price target on shares of Consolidated Edison from $99.00 to $94.00 and set a “neutral” rating on the stock in a research note on Friday, February 16th. KeyCorp raised shares of Consolidated Edison from an “underweight” rating to a “sector weight” rating in a report on Thursday, January 4th. LADENBURG THALM/SH SH assumed coverage on shares of Consolidated Edison in a report on Wednesday, January 3rd. They set a “neutral” rating and a $92.50 price target for the company. Scotiabank raised their price target on shares of Consolidated Edison from $90.00 to $91.00 and gave the company a “sector underperform” rating in a report on Tuesday, February 20th. Finally, Royal Bank of Canada lowered their price target on shares of Consolidated Edison from $94.00 to $93.00 and set a “sector perform” rating for the company in a report on Friday, February 16th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target 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.