Douglas Lane & Associates LLC Boosts Stock Position in Consolidated Edison, Inc. (NYSE:ED)

Douglas Lane & Associates LLC raised its holdings in Consolidated Edison, Inc. (NYSE:ED) by 54.7% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,504 shares of the utilities provider’s stock after acquiring an additional 1,947 shares during the quarter. Douglas Lane & Associates LLC’s holdings in Consolidated Edison were worth $491,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Diversified Trust Co grew its holdings in shares of Consolidated Edison by 0.3% in the fourth quarter. Diversified Trust Co now owns 44,317 shares of the utilities provider’s stock worth $3,954,000 after purchasing an additional 138 shares during the last quarter. Centre Asset Management LLC boosted its position in Consolidated Edison by 7.2% in the 4th quarter. Centre Asset Management LLC now owns 2,519 shares of the utilities provider’s stock valued at $225,000 after buying an additional 169 shares during the period. JPMorgan Chase & Co. boosted its position in Consolidated Edison by 4.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,145,128 shares of the utilities provider’s stock valued at $223,373,000 after buying an additional 82,985 shares during the period. Principal Financial Group Inc. grew its stake in Consolidated Edison by 5.1% in the 3rd quarter. Principal Financial Group Inc. now owns 477,722 shares of the utilities provider’s stock worth $49,745,000 after acquiring an additional 23,024 shares in the last quarter. Finally, Peapack Gladstone Financial Corp increased its position in shares of Consolidated Edison by 6.0% during the third quarter. Peapack Gladstone Financial Corp now owns 25,606 shares of the utilities provider’s stock worth $2,667,000 after acquiring an additional 1,441 shares during the period. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Consolidated Edison Trading Up 1.1 %

NYSE ED opened at $88.93 on Thursday. The firm has a market cap of $30.81 billion, a PE ratio of 16.75, a price-to-earnings-growth ratio of 3.11 and a beta of 0.38. Consolidated Edison, Inc. has a 52 week low of $85.85 and a 52 week high of $107.75. 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 company has a 50 day moving average price of $94.64 and a 200 day moving average price of $97.88.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Thursday, November 7th. The utilities provider reported $1.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.56 by $0.12. The business had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $4.02 billion. Consolidated Edison had a return on equity of 8.70% and a net margin of 12.27%. As a group, sell-side analysts forecast that Consolidated Edison, Inc. will post 5.34 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Wednesday, November 13th were issued a $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 3.73%. The ex-dividend date was Wednesday, November 13th. Consolidated Edison’s dividend payout ratio is presently 62.52%.

Analyst Upgrades and Downgrades

ED has been the subject of a number of research reports. Evercore ISI upgraded Consolidated Edison from a “hold” rating to a “strong-buy” rating in a report on Friday, November 8th. UBS Group increased their price target on Consolidated Edison from $105.00 to $106.00 and gave the stock a “neutral” rating in a research report on Friday, September 20th. Jefferies Financial Group began coverage on Consolidated Edison in a report on Wednesday, October 9th. They issued a “hold” rating and a $108.00 price objective for the company. Barclays dropped their target price on shares of Consolidated Edison from $104.00 to $99.00 and set an “underweight” rating on the stock in a report on Friday, November 8th. Finally, Citigroup upgraded shares of Consolidated Edison from a “neutral” rating to a “buy” rating and boosted their price target for the company from $103.00 to $116.00 in a report on Tuesday, October 15th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, two have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $100.64.

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.