Consolidated Edison, Inc. (NYSE:ED) Shares Purchased by Marshall Wace LLP

Marshall Wace LLP raised its position in Consolidated Edison, Inc. (NYSE:ED) by 232.3% during the fourth quarter, HoldingsChannel reports. The firm owned 1,053,339 shares of the utilities provider’s stock after purchasing an additional 736,348 shares during the period. Marshall Wace LLP’s holdings in Consolidated Edison were worth $93,989,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Wilmington Savings Fund Society FSB acquired a new position in Consolidated Edison during the third quarter worth about $776,000. JPMorgan Chase & Co. lifted its stake in Consolidated Edison by 4.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,145,128 shares of the utilities provider’s stock worth $223,373,000 after purchasing an additional 82,985 shares in the last quarter. Hennessy Advisors Inc. boosted its holdings in shares of Consolidated Edison by 2.8% during the 4th quarter. Hennessy Advisors Inc. now owns 143,136 shares of the utilities provider’s stock worth $12,772,000 after purchasing an additional 3,900 shares during the last quarter. Gateway Investment Advisers LLC grew its position in shares of Consolidated Edison by 102.7% in the fourth quarter. Gateway Investment Advisers LLC now owns 430,279 shares of the utilities provider’s stock valued at $38,394,000 after purchasing an additional 217,981 shares in the last quarter. Finally, Jones Financial Companies Lllp increased its holdings in shares of Consolidated Edison by 81.4% in the fourth quarter. Jones Financial Companies Lllp now owns 9,921 shares of the utilities provider’s stock valued at $885,000 after purchasing an additional 4,451 shares during the last quarter. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Stock Performance

NYSE:ED opened at $111.64 on Thursday. Consolidated Edison, Inc. has a fifty-two week low of $87.28 and a fifty-two week high of $114.87. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01. The company has a 50 day moving average price of $104.14 and a 200 day moving average price of $99.14. The stock has a market capitalization of $40.21 billion, a P/E ratio of 21.31, a PEG ratio of 3.05 and a beta of 0.27.

Consolidated Edison (NYSE:ED) last released its quarterly earnings results on Thursday, February 20th. The utilities provider reported $0.98 EPS for the quarter, topping the consensus estimate of $0.97 by $0.01. The business had revenue of $3.67 billion during the quarter, compared to analyst estimates 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.

Analysts Set New Price Targets

A number of research firms have weighed in on ED. UBS Group boosted their price objective on Consolidated Edison from $110.00 to $113.00 and gave the stock a “neutral” rating in a research note on Friday, March 21st. Evercore ISI cut shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 21st. Citigroup raised their price objective on shares of Consolidated Edison from $116.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, April 9th. Barclays boosted their target price on shares of Consolidated Edison from $92.00 to $95.00 and gave the company an “underweight” rating in a report on Monday, February 24th. Finally, Mizuho raised their price target on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $102.80.

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.