Marshall Wace LLP Has $11.35 Million Stock Holdings in Consolidated Edison, Inc. (NYSE:ED)

Marshall Wace LLP raised its holdings in Consolidated Edison, Inc. (NYSE:ED) by 142.2% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 126,938 shares of the utilities provider’s stock after acquiring an additional 74,538 shares during the period. Marshall Wace LLP’s holdings in Consolidated Edison were worth $11,351,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in ED. TD Asset Management Inc grew its stake in shares of Consolidated Edison by 2.3% in the fourth quarter. TD Asset Management Inc now owns 323,567 shares of the utilities provider’s stock worth $29,435,000 after acquiring an additional 7,285 shares during the last quarter. Stifel Financial Corp grew its position in Consolidated Edison by 2.5% in the 4th quarter. Stifel Financial Corp now owns 111,985 shares of the utilities provider’s stock worth $10,187,000 after purchasing an additional 2,720 shares during the last quarter. Scotia Capital Inc. increased its holdings in shares of Consolidated Edison by 5.8% during the 4th quarter. Scotia Capital Inc. now owns 22,492 shares of the utilities provider’s stock worth $2,046,000 after purchasing an additional 1,223 shares during the period. Bank of Nova Scotia raised its position in shares of Consolidated Edison by 25.2% during the fourth quarter. Bank of Nova Scotia now owns 49,194 shares of the utilities provider’s stock valued at $4,475,000 after buying an additional 9,897 shares during the last quarter. Finally, GM Advisory Group LLC bought a new stake in shares of Consolidated Edison in the fourth quarter valued at about $229,000. 66.29% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Guggenheim boosted their price target on Consolidated Edison from $88.00 to $91.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Morgan Stanley upped their target price on Consolidated Edison from $82.00 to $87.00 and gave the company an “underweight” rating in a research note on Wednesday. UBS Group lifted their price target on shares of Consolidated Edison from $105.00 to $106.00 and gave the stock a “neutral” rating in a research note on Friday, September 20th. Wells Fargo & Company boosted their price target on shares of Consolidated Edison from $97.00 to $105.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. Finally, Argus raised shares of Consolidated Edison to a “strong-buy” rating in a report on Friday, June 7th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $93.81.

Consolidated Edison Stock Performance

NYSE:ED opened at $104.05 on Friday. The stock has a market capitalization of $35.98 billion, a P/E ratio of 19.97, a price-to-earnings-growth ratio of 3.52 and a beta of 0.36. The company has a current ratio of 1.04, a quick ratio of 0.97 and a debt-to-equity ratio of 1.08. Consolidated Edison, Inc. has a 1 year low of $80.46 and a 1 year high of $105.99. The firm has a 50 day moving average of $101.15 and a 200-day moving average of $95.09.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.02. The firm had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.08 billion. Consolidated Edison had a return on equity of 8.67% and a net margin of 12.03%. During the same quarter in the previous year, the company posted $0.61 EPS. As a group, sell-side analysts anticipate that Consolidated Edison, Inc. will post 5.3 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Wednesday, August 14th were issued a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date of this dividend was Wednesday, August 14th. Consolidated Edison’s dividend payout ratio is currently 63.72%.

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.