Mather Group LLC. Buys 484 Shares of Consolidated Edison, Inc. (NYSE:ED)

Mather Group LLC. increased its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 8.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 6,194 shares of the utilities provider’s stock after acquiring an additional 484 shares during the quarter. Mather Group LLC.’s holdings in Consolidated Edison were worth $563,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of ED. Newport Trust Company LLC acquired a new position in Consolidated Edison in the third quarter valued at approximately $51,134,000. International Assets Investment Management LLC increased its position in shares of Consolidated Edison by 9,063.6% during the fourth quarter. International Assets Investment Management LLC now owns 519,028 shares of the utilities provider’s stock worth $47,216,000 after acquiring an additional 513,364 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC bought a new stake in shares of Consolidated Edison during the third quarter worth $39,556,000. Northern Trust Corp increased its position in shares of Consolidated Edison by 8.2% during the third quarter. Northern Trust Corp now owns 4,484,026 shares of the utilities provider’s stock worth $383,519,000 after acquiring an additional 340,239 shares in the last quarter. Finally, QRG Capital Management Inc. bought a new stake in shares of Consolidated Edison during the third quarter worth $28,156,000. 66.29% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Barclays increased their price objective on shares of Consolidated Edison from $86.00 to $87.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 14th. Scotiabank lowered their price objective on shares of Consolidated Edison from $91.00 to $85.00 and set a “sector underperform” rating for the company in a research report on Monday, April 22nd. UBS Group lowered their price objective on shares of Consolidated Edison from $99.00 to $94.00 and set a “neutral” rating for the company in a research report on Friday, February 16th. KeyCorp raised shares of Consolidated Edison from an “underweight” rating to a “sector weight” rating in a research report on Thursday, January 4th. Finally, LADENBURG THALM/SH SH started coverage on shares of Consolidated Edison in a research report on Wednesday, January 3rd. They issued a “neutral” rating and a $92.50 target price for the company. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $87.54.

Consolidated Edison Price Performance

Shares of Consolidated Edison stock opened at $94.78 on Thursday. Consolidated Edison, Inc. has a twelve month low of $80.46 and a twelve month high of $100.44. The company has a quick ratio of 0.94, a current ratio of 1.01 and a debt-to-equity ratio of 1.04. The company has a 50-day simple moving average of $89.91 and a two-hundred day simple moving average of $90.04. The stock has a market capitalization of $32.75 billion, a price-to-earnings ratio of 13.20, a price-to-earnings-growth ratio of 8.85 and a beta of 0.35.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings data on Thursday, February 15th. The utilities provider reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.02. Consolidated Edison had a net margin of 17.19% and a return on equity of 8.41%. The business had revenue of $3.44 billion during the quarter, compared to analysts’ expectations of $3.70 billion. During the same quarter in the previous year, the company earned $0.81 EPS. The business’s revenue was down 14.6% on a year-over-year basis. Analysts forecast that Consolidated Edison, Inc. will post 5.31 EPS for the current year.

Consolidated Edison Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Wednesday, May 15th will be given a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 3.50%. The ex-dividend date is Tuesday, May 14th. Consolidated Edison’s payout ratio is presently 46.24%.

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.