Assetmark Inc. Has $53.93 Million Stock Holdings in Consolidated Edison, Inc. (NYSE:ED)

Assetmark Inc. raised its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 1.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 604,376 shares of the utilities provider’s stock after purchasing an additional 8,818 shares during the period. Assetmark Inc. owned 0.17% of Consolidated Edison worth $53,929,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new stake in shares of Consolidated Edison in the third quarter worth $27,000. Ashton Thomas Securities LLC bought a new position in Consolidated Edison in the third quarter worth $30,000. AlphaMark Advisors LLC bought a new position in Consolidated Edison in the fourth quarter worth $27,000. Centricity Wealth Management LLC bought a new position in Consolidated Edison in the fourth quarter worth $39,000. Finally, FSA Wealth Management LLC bought a new position in Consolidated Edison in the third quarter worth $55,000. Institutional investors and hedge funds own 66.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ED. Barclays raised their target price on Consolidated Edison from $92.00 to $95.00 and gave the stock an “underweight” rating in a research report on Monday, February 24th. Morgan Stanley reduced their target price on Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating for the company in a research report on Friday, November 22nd. Mizuho raised their target price on Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Scotiabank lifted their price objective on Consolidated Edison from $100.00 to $101.00 and gave the company a “sector perform” rating in a report on Monday, February 24th. Finally, UBS Group lifted their price objective on Consolidated Edison from $105.00 to $110.00 and gave the company a “neutral” rating in a report on Tuesday, February 25th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $101.50.

Consolidated Edison Stock Down 1.9 %

ED stock opened at $100.18 on Thursday. 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 $34.73 billion, a PE ratio of 19.12, a PEG ratio of 3.05 and a beta of 0.39. Consolidated Edison, Inc. has a 1-year low of $87.16 and a 1-year high of $107.75. The business’s 50 day simple moving average is $93.89 and its 200 day simple moving average is $98.00.

Consolidated Edison (NYSE:ED) last posted its earnings results on Thursday, February 20th. The utilities provider reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.01. Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. The business had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.63 billion. As a group, research analysts anticipate that Consolidated Edison, Inc. will post 5.62 EPS for the current year.

Consolidated Edison Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders 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 annualized dividend and a dividend yield of 3.39%. The ex-dividend date is Wednesday, February 19th. Consolidated Edison’s dividend payout ratio is 64.89%.

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.