Cbre Investment Management Listed Real Assets LLC Invests $37.15 Million in Consolidated Edison, Inc. (NYSE:ED)

Cbre Investment Management Listed Real Assets LLC acquired a new position in shares of Consolidated Edison, Inc. (NYSE:ED) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 416,307 shares of the utilities provider’s stock, valued at approximately $37,147,000.

Other large investors have also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new position in Consolidated Edison during the third quarter worth $27,000. Ashton Thomas Securities LLC bought a new position in Consolidated Edison during the third quarter worth $30,000. AlphaMark Advisors LLC bought a new stake in Consolidated Edison in the fourth quarter valued at $27,000. Centricity Wealth Management LLC bought a new stake in Consolidated Edison in the fourth quarter valued at $39,000. Finally, FSA Wealth Management LLC bought a new stake in Consolidated Edison in the third quarter valued at $55,000. 66.29% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Scotiabank raised their target price on Consolidated Edison from $100.00 to $101.00 and gave the company a “sector perform” rating in a research note on Monday, February 24th. Morgan Stanley cut their target price on Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating on the stock in a research note on Friday, November 22nd. Barclays raised their target price on Consolidated Edison from $92.00 to $95.00 and gave the company an “underweight” rating in a research note on Monday, February 24th. Mizuho raised their target price on Consolidated Edison from $92.00 to $95.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Finally, Evercore ISI cut Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 21st. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Consolidated Edison currently has a consensus rating of “Hold” and a consensus target price of $101.50.

Consolidated Edison Price Performance

Shares of ED opened at $102.38 on Wednesday. The stock’s fifty day moving average is $93.67 and its 200-day moving average is $97.98. The firm has a market capitalization of $35.49 billion, a price-to-earnings ratio of 19.54, a price-to-earnings-growth ratio of 3.05 and a beta of 0.39. Consolidated Edison, Inc. has a one year low of $87.16 and a one year high of $107.75. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01.

Consolidated Edison (NYSE:ED) last released its earnings results on Thursday, February 20th. The utilities provider reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.01. The firm had revenue of $3.67 billion for 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 analysts anticipate that Consolidated Edison, Inc. will post 5.62 EPS for the current year.

Consolidated Edison Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Wednesday, February 19th will be issued a dividend of $0.85 per share. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.83. This represents a $3.40 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date is Wednesday, February 19th. Consolidated Edison’s payout ratio is presently 64.89%.

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.