Parallel Advisors LLC Has $1.01 Million Position in Consolidated Edison, Inc. (NYSE:ED)

Parallel Advisors LLC grew its position in Consolidated Edison, Inc. (NYSE:ED) by 25.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,328 shares of the utilities provider’s stock after buying an additional 2,332 shares during the quarter. Parallel Advisors LLC’s holdings in Consolidated Edison were worth $1,011,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in ED. United Bank acquired a new position in shares of Consolidated Edison in the 3rd quarter valued at approximately $227,000. Empowered Funds LLC increased its position in Consolidated Edison by 7.6% during the 3rd quarter. Empowered Funds LLC now owns 5,785 shares of the utilities provider’s stock worth $602,000 after purchasing an additional 409 shares in the last quarter. Natixis Advisors LLC increased its position in Consolidated Edison by 7.1% during the 3rd quarter. Natixis Advisors LLC now owns 171,322 shares of the utilities provider’s stock worth $17,840,000 after purchasing an additional 11,419 shares in the last quarter. Thrivent Financial for Lutherans increased its position in Consolidated Edison by 11.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 35,104 shares of the utilities provider’s stock worth $3,655,000 after purchasing an additional 3,716 shares in the last quarter. Finally, Meeder Advisory Services Inc. increased its position in Consolidated Edison by 3.6% during the 3rd quarter. Meeder Advisory Services Inc. now owns 9,814 shares of the utilities provider’s stock worth $1,022,000 after purchasing an additional 341 shares in the last quarter. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Consolidated Edison Trading Down 0.3 %

NYSE:ED opened at $107.53 on Thursday. The firm’s fifty day moving average is $97.12 and its 200-day moving average is $98.32. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01. Consolidated Edison, Inc. has a 52 week low of $87.16 and a 52 week high of $108.43. The firm has a market cap of $37.29 billion, a P/E ratio of 20.52, a P/E/G ratio of 3.05 and a beta of 0.30.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings data on Thursday, February 20th. The utilities provider reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.01. Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. The company had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.63 billion. Equities analysts expect that Consolidated Edison, Inc. will post 5.62 earnings per share for the current year.

Consolidated Edison Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Wednesday, February 19th were paid a $0.85 dividend. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.83. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date was Wednesday, February 19th. Consolidated Edison’s dividend payout ratio is currently 64.89%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Barclays upped their price objective on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock an “underweight” rating in a research report on Monday, February 24th. Scotiabank upped their price objective on shares of Consolidated Edison from $100.00 to $101.00 and gave the stock a “sector perform” rating in a research report on Monday, February 24th. Morgan Stanley lowered their price objective on shares of Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating for the company in a research report on Friday, November 22nd. Mizuho upped their price objective on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Finally, Evercore ISI lowered shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 21st. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Consolidated Edison presently has an average rating of “Hold” and a consensus price target of $101.50.

Consolidated Edison 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.