Consolidated Edison, Inc. (NYSE:ED) Position Increased by KCM Investment Advisors LLC

KCM Investment Advisors LLC raised its stake in Consolidated Edison, Inc. (NYSE:ED) by 19.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,405 shares of the utilities provider’s stock after buying an additional 545 shares during the period. KCM Investment Advisors LLC’s holdings in Consolidated Edison were worth $304,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of Consolidated Edison by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 42,455,662 shares of the utilities provider’s stock worth $3,788,319,000 after acquiring an additional 488,752 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Consolidated Edison by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 8,984,022 shares of the utilities provider’s stock valued at $799,684,000 after purchasing an additional 130,234 shares during the period. Norges Bank purchased a new position in Consolidated Edison in the 4th quarter worth about $399,824,000. Charles Schwab Investment Management Inc. raised its holdings in Consolidated Edison by 3.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,225,989 shares of the utilities provider’s stock worth $198,625,000 after buying an additional 77,323 shares during the period. Finally, Amundi lifted its stake in Consolidated Edison by 12.2% during the fourth quarter. Amundi now owns 2,221,729 shares of the utilities provider’s stock valued at $197,795,000 after buying an additional 242,243 shares in the last quarter. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Price Performance

NYSE ED opened at $109.53 on Monday. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07. The stock has a market capitalization of $39.45 billion, a PE ratio of 20.90, a price-to-earnings-growth ratio of 3.05 and a beta of 0.27. Consolidated Edison, Inc. has a 12-month low of $87.28 and a 12-month high of $114.87. The company has a 50 day moving average price of $101.43 and a two-hundred day moving average price of $98.70.

Consolidated Edison (NYSE:ED) last released its quarterly earnings data on Thursday, February 20th. The utilities provider reported $0.98 earnings per share (EPS) for the quarter, beating 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 net margin of 11.93% and a return on equity of 8.62%. As a group, equities analysts predict that Consolidated Edison, Inc. will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th were issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 3.10%. The ex-dividend date was Wednesday, February 19th. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.83. Consolidated Edison’s dividend payout ratio (DPR) is 64.89%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Barclays boosted their price target 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. Morgan Stanley increased their target price on Consolidated Edison from $85.00 to $91.00 and gave the company an “underweight” rating in a report on Thursday, March 20th. UBS Group raised their target price on Consolidated Edison from $110.00 to $113.00 and gave the stock a “neutral” rating in a research report on Friday, March 21st. Evercore ISI lowered Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 21st. Finally, Mizuho increased their price target on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $102.40.

About Consolidated Edison

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.