Consolidated Edison, Inc. (NYSE:ED) Position Increased by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. raised its position in Consolidated Edison, Inc. (NYSE:EDFree Report) by 34.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,742 shares of the utilities provider’s stock after purchasing an additional 3,494 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Consolidated Edison were worth $1,250,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its holdings in shares of Consolidated Edison by 0.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,126,595 shares of the utilities provider’s stock valued at $102,484,000 after purchasing an additional 6,176 shares in the last quarter. QRG Capital Management Inc. boosted its stake in shares of Consolidated Edison by 6.7% during the 4th quarter. QRG Capital Management Inc. now owns 351,411 shares of the utilities provider’s stock worth $31,968,000 after acquiring an additional 22,215 shares in the last quarter. Johnson Investment Counsel Inc. increased its holdings in shares of Consolidated Edison by 3.8% during the 4th quarter. Johnson Investment Counsel Inc. now owns 13,944 shares of the utilities provider’s stock valued at $1,268,000 after acquiring an additional 512 shares during the last quarter. Teacher Retirement System of Texas raised its stake in shares of Consolidated Edison by 0.4% in the 4th quarter. Teacher Retirement System of Texas now owns 230,114 shares of the utilities provider’s stock valued at $20,933,000 after acquiring an additional 917 shares in the last quarter. Finally, Principal Securities Inc. acquired a new stake in Consolidated Edison in the 4th quarter worth approximately $411,000. 66.29% of the stock is owned by institutional investors and hedge funds.

Consolidated Edison Stock Performance

ED opened at $97.10 on Friday. The stock’s 50 day simple moving average is $92.02 and its 200-day simple moving average is $90.80. The company has a current ratio of 0.99, a quick ratio of 0.92 and a debt-to-equity ratio of 1.01. The stock has a market cap of $33.58 billion, a PE ratio of 18.64, a P/E/G ratio of 9.12 and a beta of 0.34. Consolidated Edison, Inc. has a 1 year low of $80.46 and a 1 year high of $98.85.

Consolidated Edison (NYSE:EDGet Free Report) last announced its quarterly earnings results on Thursday, May 2nd. The utilities provider reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.26. The firm had revenue of $4.28 billion for the quarter, compared to analyst estimates of $4.40 billion. Consolidated Edison had a net margin of 12.43% and a return on equity of 8.79%. The business’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.83 EPS. Sell-side analysts forecast that Consolidated Edison, Inc. will post 5.31 EPS for the current year.

Consolidated Edison Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Wednesday, May 15th will be issued a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date is Tuesday, May 14th. Consolidated Edison’s payout ratio is 63.72%.

Analyst Upgrades and Downgrades

ED has been the topic of several analyst reports. Barclays increased their price target on Consolidated Edison from $89.00 to $97.00 and gave the company an “equal weight” rating in a report on Tuesday, May 7th. UBS Group dropped their target price on shares of Consolidated Edison from $99.00 to $94.00 and set a “neutral” rating on the stock in a report on Friday, February 16th. Royal Bank of Canada decreased their price target on shares of Consolidated Edison from $94.00 to $93.00 and set a “sector perform” rating for the company in a report on Friday, February 16th. Scotiabank lowered their price target on Consolidated Edison from $91.00 to $85.00 and set a “sector underperform” rating on the stock in a research report on Monday, April 22nd. Finally, Wells Fargo & Company increased their target price on Consolidated Edison from $93.00 to $97.00 and gave the company an “equal weight” rating in a research note on Friday, May 3rd. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $88.46.

Read Our Latest Report on ED

Consolidated Edison Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Consolidated Edison (NYSE:ED)

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