Intech Investment Management LLC Decreases Position in Consolidated Edison, Inc. (NYSE:ED)

Intech Investment Management LLC cut its stake in Consolidated Edison, Inc. (NYSE:EDFree Report) by 12.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 133,601 shares of the utilities provider’s stock after selling 18,817 shares during the quarter. Intech Investment Management LLC’s holdings in Consolidated Edison were worth $12,154,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Private Advisor Group LLC increased its holdings in shares of Consolidated Edison by 2.1% during the 3rd quarter. Private Advisor Group LLC now owns 48,129 shares of the utilities provider’s stock worth $4,108,000 after buying an additional 972 shares during the last quarter. MGO One Seven LLC increased its holdings in shares of Consolidated Edison by 2.1% during the 3rd quarter. MGO One Seven LLC now owns 5,727 shares of the utilities provider’s stock worth $490,000 after buying an additional 119 shares during the last quarter. Corient Private Wealth LLC increased its holdings in shares of Consolidated Edison by 2.8% during the 3rd quarter. Corient Private Wealth LLC now owns 167,691 shares of the utilities provider’s stock worth $14,344,000 after buying an additional 4,575 shares during the last quarter. NBC Securities Inc. acquired a new stake in shares of Consolidated Edison during the 3rd quarter worth approximately $312,000. Finally, Ieq Capital LLC increased its holdings in shares of Consolidated Edison by 4.0% during the 3rd quarter. Ieq Capital LLC now owns 9,920 shares of the utilities provider’s stock worth $848,000 after buying an additional 380 shares during the last quarter. 66.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Barclays raised their price target on shares of Consolidated Edison from $89.00 to $97.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 7th. 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 research report on Friday, February 16th. Wells Fargo & Company raised their price target on shares of Consolidated Edison from $93.00 to $97.00 and gave the company an “equal weight” rating in a research report on Friday, May 3rd. UBS Group decreased their price target 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. Finally, Scotiabank decreased their price target 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. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $88.46.

Get Our Latest Report on ED

Consolidated Edison Stock Performance

Shares of Consolidated Edison stock traded up $0.56 on Friday, reaching $94.43. 1,639,105 shares of the stock were exchanged, compared to its average volume of 2,007,665. Consolidated Edison, Inc. has a 1-year low of $80.46 and a 1-year high of $98.85. 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 business has a fifty day moving average price of $92.60 and a two-hundred day moving average price of $90.99. The firm has a market capitalization of $32.66 billion, a PE ratio of 18.12, a PEG ratio of 2.38 and a beta of 0.34.

Consolidated Edison (NYSE:EDGet Free Report) last released its quarterly earnings data on Thursday, May 2nd. The utilities provider reported $2.15 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.26. Consolidated Edison had a net margin of 12.43% and a return on equity of 8.79%. The firm had revenue of $4.28 billion for the quarter, compared to the consensus estimate of $4.40 billion. During the same quarter in the previous year, the firm earned $1.83 earnings per share. The firm’s revenue was down 2.8% on a year-over-year basis. As a group, research analysts anticipate that Consolidated Edison, Inc. will post 5.34 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Wednesday, May 15th will be issued a $0.83 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.52%. Consolidated Edison’s dividend payout ratio (DPR) is presently 63.72%.

About Consolidated Edison

(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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