Xponance Inc. raised its holdings in shares of Consolidated Edison, Inc. (NYSE:ED – Get Rating) by 16.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 50,038 shares of the utilities provider’s stock after purchasing an additional 7,239 shares during the period. Xponance Inc.’s holdings in Consolidated Edison were worth $4,769,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in ED. Roundview Capital LLC bought a new stake in Consolidated Edison during the first quarter valued at $680,000. Dimensional Fund Advisors LP boosted its holdings in shares of Consolidated Edison by 22.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,030,616 shares of the utilities provider’s stock valued at $97,579,000 after acquiring an additional 190,138 shares during the period. Sei Investments Co. boosted its holdings in shares of Consolidated Edison by 54.4% during the first quarter. Sei Investments Co. now owns 18,204 shares of the utilities provider’s stock valued at $1,693,000 after acquiring an additional 6,412 shares during the period. Cetera Investment Advisers boosted its holdings in shares of Consolidated Edison by 1.3% during the first quarter. Cetera Investment Advisers now owns 19,489 shares of the utilities provider’s stock valued at $1,845,000 after acquiring an additional 254 shares during the period. Finally, Sequoia Financial Advisors LLC acquired a new position in shares of Consolidated Edison during the first quarter valued at $214,000. Institutional investors own 64.95% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities analysts have recently issued reports on the stock. Morgan Stanley reduced their price target on shares of Consolidated Edison from $76.00 to $70.00 and set an “underweight” rating for the company in a report on Tuesday, March 21st. StockNews.com started coverage on shares of Consolidated Edison in a report on Thursday, March 16th. They issued a “hold” rating for the company. Royal Bank of Canada upped their price objective on shares of Consolidated Edison from $94.00 to $95.00 and gave the stock a “sector perform” rating in a report on Monday, February 27th. Citigroup upped their price objective on shares of Consolidated Edison from $92.00 to $103.00 and gave the stock a “neutral” rating in a report on Wednesday, February 22nd. Finally, Credit Suisse Group reduced their price objective on shares of Consolidated Edison from $95.00 to $91.00 and set a “neutral” rating for the company in a report on Friday, February 17th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Consolidated Edison currently has a consensus rating of “Hold” and an average price target of $90.50.
Consolidated Edison Price Performance
Consolidated Edison (NYSE:ED – Get Rating) last posted its quarterly earnings data on Thursday, February 16th. The utilities provider reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.03. The firm had revenue of $4.03 billion for the quarter, compared to the consensus estimate of $3.18 billion. Consolidated Edison had a return on equity of 7.79% and a net margin of 10.59%. The business’s revenue for the quarter was up 18.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.00 EPS. On average, analysts predict that Consolidated Edison, Inc. will post 4.84 EPS for the current year.
Consolidated Edison Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 15th. Stockholders of record on Wednesday, February 15th were issued a $0.81 dividend. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.79. The ex-dividend date of this dividend was Tuesday, February 14th. This represents a $3.24 dividend on an annualized basis and a dividend yield of 3.39%. Consolidated Edison’s dividend payout ratio is currently 69.38%.
Consolidated Edison Profile
Consolidated Edison, Inc is a holding company, which engages in the business of regulated electric, gas, and steam delivery. It operates through the following segments: Consolidated Edison Company of New York (CECONY), Orange and Rockland Utilities(O&R), Con Edison Clean Energy Businesses and Con Edison Transmission.
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