Consolidated Edison, Inc. (NYSE:ED) Stock Position Raised by Forsta AP Fonden

Forsta AP Fonden raised its position in Consolidated Edison, Inc. (NYSE:ED) by 6.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 150,200 shares of the utilities provider’s stock after purchasing an additional 9,100 shares during the quarter. Forsta AP Fonden’s holdings in Consolidated Edison were worth $13,402,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in ED. TD Private Client Wealth LLC boosted its holdings in Consolidated Edison by 4.7% during the third quarter. TD Private Client Wealth LLC now owns 2,334 shares of the utilities provider’s stock worth $243,000 after buying an additional 104 shares in the last quarter. D.A. Davidson & CO. lifted its position in Consolidated Edison by 1.1% in the 3rd quarter. D.A. Davidson & CO. now owns 11,142 shares of the utilities provider’s stock worth $1,160,000 after buying an additional 124 shares in the last quarter. Townsquare Capital LLC lifted its position in Consolidated Edison by 2.4% in the 3rd quarter. Townsquare Capital LLC now owns 5,574 shares of the utilities provider’s stock worth $580,000 after buying an additional 130 shares in the last quarter. Brookstone Capital Management lifted its position in Consolidated Edison by 0.6% in the 3rd quarter. Brookstone Capital Management now owns 24,173 shares of the utilities provider’s stock worth $2,517,000 after buying an additional 136 shares in the last quarter. Finally, Cooper Financial Group lifted its position in Consolidated Edison by 5.1% in the 4th quarter. Cooper Financial Group now owns 2,799 shares of the utilities provider’s stock worth $250,000 after buying an additional 136 shares in the last quarter. 66.29% of the stock is currently owned by institutional investors.

Consolidated Edison Stock Performance

NYSE:ED opened at $92.60 on Thursday. Consolidated Edison, Inc. has a 1 year low of $85.85 and a 1 year high of $107.75. The firm’s fifty day simple moving average is $92.78 and its 200 day simple moving average is $98.10. 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 firm has a market capitalization of $32.08 billion, a PE ratio of 17.44, a PEG ratio of 2.89 and a beta of 0.38.

Consolidated Edison (NYSE:ED) last posted its earnings results on Thursday, November 7th. The utilities provider reported $1.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.56 by $0.12. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.70%. The business had revenue of $4.09 billion for the quarter, compared to analyst estimates of $4.02 billion. On average, sell-side analysts anticipate that Consolidated Edison, Inc. will post 5.35 EPS for the current year.

Consolidated Edison Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th will be given a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 3.67%. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend is Wednesday, February 19th. Consolidated Edison’s dividend payout ratio (DPR) is currently 62.52%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on ED shares. Scotiabank upgraded shares of Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and increased their target price for the stock from $90.00 to $100.00 in a research report on Thursday, December 12th. Barclays cut their price target on shares of Consolidated Edison from $99.00 to $92.00 and set an “underweight” rating on the stock in a report on Monday. Jefferies Financial Group started coverage on shares of Consolidated Edison in a report on Wednesday, October 9th. They set a “hold” rating and a $108.00 price target on the stock. Evercore ISI downgraded shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 21st. Finally, Morgan Stanley cut their price target on shares of Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating on the stock in a report on Friday, November 22nd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Consolidated Edison has an average rating of “Hold” and a consensus target price of $100.00.

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.