Mufg Securities Americas Inc. Purchases New Shares in Consolidated Edison, Inc. (NYSE:ED)

Mufg Securities Americas Inc. bought a new stake in Consolidated Edison, Inc. (NYSE:ED) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm bought 5,114 shares of the utilities provider’s stock, valued at approximately $456,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. JPMorgan Chase & Co. increased its holdings in Consolidated Edison by 4.0% in the third 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. grew its stake in Consolidated Edison by 2.8% in the 4th quarter. Hennessy Advisors Inc. now owns 143,136 shares of the utilities provider’s stock valued at $12,772,000 after buying an additional 3,900 shares in the last quarter. Gateway Investment Advisers LLC increased its position in shares of Consolidated Edison by 102.7% during the fourth quarter. Gateway Investment Advisers LLC now owns 430,279 shares of the utilities provider’s stock valued at $38,394,000 after buying an additional 217,981 shares during the period. Jones Financial Companies Lllp boosted its stake in Consolidated Edison by 81.4% during the fourth quarter. Jones Financial Companies Lllp now owns 9,921 shares of the utilities provider’s stock valued at $885,000 after buying an additional 4,451 shares during the period. Finally, Nisa Investment Advisors LLC increased its holdings in shares of Consolidated Edison by 2.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 132,754 shares of the utilities provider’s stock worth $11,846,000 after buying an additional 3,135 shares during the last quarter. Institutional investors own 66.29% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Wells Fargo & Company upped their price target on shares of Consolidated Edison from $103.00 to $114.00 and gave the company an “equal weight” rating in a report on Friday, May 2nd. Guggenheim upped their price target on shares of Consolidated Edison from $96.00 to $103.00 and gave the company a “neutral” rating in a research report on Friday, May 2nd. Morgan Stanley set a $94.00 price objective on shares of Consolidated Edison and gave the company an “overweight” rating in a report on Wednesday, April 23rd. Evercore ISI cut shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 21st. Finally, Citigroup raised their price target on Consolidated Edison from $116.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday, April 9th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $104.36.

Consolidated Edison Stock Performance

Shares of ED opened at $101.94 on Friday. Consolidated Edison, Inc. has a 12-month low of $87.28 and a 12-month high of $114.87. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.07. The company’s 50 day simple moving average is $108.44 and its 200-day simple moving average is $99.83. The firm has a market cap of $36.73 billion, a PE ratio of 19.45, a price-to-earnings-growth ratio of 3.05 and a beta of 0.29.

Consolidated Edison (NYSE:ED) last released its quarterly earnings results on Thursday, May 1st. The utilities provider reported $2.25 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.05). Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. The business had revenue of $4.80 billion during the quarter, compared to analyst estimates of $4.21 billion. During the same quarter in the prior year, the company earned $2.15 earnings per share. As a group, equities analysts predict that Consolidated Edison, Inc. will post 5.62 EPS for the current year.

Consolidated Edison Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Wednesday, May 14th will be paid a dividend of $0.85 per share. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $3.40 dividend on an annualized basis and a yield of 3.34%. Consolidated Edison’s dividend payout ratio (DPR) is 62.85%.

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.