Consolidated Edison, Inc. (NYSE:ED) Shares Acquired by Centre Asset Management LLC

Centre Asset Management LLC raised its position in shares of Consolidated Edison, Inc. (NYSE:ED) by 7.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,519 shares of the utilities provider’s stock after purchasing an additional 169 shares during the period. Centre Asset Management LLC’s holdings in Consolidated Edison were worth $225,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Capital Performance Advisors LLP acquired a new position in shares of Consolidated Edison during the third quarter worth approximately $27,000. Ashton Thomas Securities LLC bought a new stake in Consolidated Edison during the 3rd quarter valued at $30,000. Future Financial Wealth Managment LLC acquired a new position in Consolidated Edison during the 3rd quarter worth $55,000. FSA Wealth Management LLC bought a new position in shares of Consolidated Edison in the third quarter worth $55,000. Finally, Webster Bank N. A. increased its holdings in shares of Consolidated Edison by 189.5% during the third quarter. Webster Bank N. A. now owns 579 shares of the utilities provider’s stock valued at $60,000 after purchasing an additional 379 shares during the period. Institutional investors own 66.29% of the company’s stock.

Analyst Ratings Changes

ED has been the subject of several research analyst reports. Citigroup raised shares of Consolidated Edison from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $103.00 to $116.00 in a report on Tuesday, October 15th. Scotiabank upgraded shares of Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and increased their price objective for the company from $90.00 to $100.00 in a report on Thursday, December 12th. UBS Group boosted their target price on Consolidated Edison from $105.00 to $106.00 and gave the stock a “neutral” rating in a report on Friday, September 20th. Evercore ISI raised Consolidated Edison from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 8th. Finally, Barclays dropped their price objective on Consolidated Edison from $104.00 to $99.00 and set an “underweight” rating on the stock in a research note on Friday, November 8th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $99.96.

Consolidated Edison Trading Up 0.6 %

Shares of NYSE:ED traded up $0.51 during midday trading on Friday, reaching $89.54. The company had a trading volume of 149,524 shares, compared to its average volume of 833,694. The company has a fifty day simple moving average of $95.85 and a two-hundred day simple moving average of $97.88. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01. The firm has a market cap of $31.02 billion, a price-to-earnings ratio of 16.86, a price-to-earnings-growth ratio of 3.11 and a beta of 0.36. Consolidated Edison, Inc. has a 1-year low of $85.85 and a 1-year high of $107.75.

Consolidated Edison (NYSE:ED) last released its earnings results on Thursday, November 7th. The utilities provider reported $1.68 earnings per share for the quarter, topping the consensus estimate 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 net margin of 12.27% and a return on equity of 8.70%. Research analysts predict that Consolidated Edison, Inc. will post 5.34 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Wednesday, November 13th were given a $0.83 dividend. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $3.32 annualized dividend and a dividend yield of 3.71%. Consolidated Edison’s dividend payout ratio (DPR) is presently 62.52%.

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.