201,820 Shares in Consolidated Edison, Inc. (NYSE:ED) Acquired by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. purchased a new stake in Consolidated Edison, Inc. (NYSE:ED) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 201,820 shares of the utilities provider’s stock, valued at approximately $18,018,000. Resona Asset Management Co. Ltd. owned 0.06% of Consolidated Edison as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of ED. AlphaMark Advisors LLC acquired a new position in shares of Consolidated Edison during the 4th quarter valued at $27,000. Fairway Wealth LLC bought a new stake in Consolidated Edison in the fourth quarter valued at $36,000. OFI Invest Asset Management acquired a new position in shares of Consolidated Edison during the fourth quarter valued at about $35,000. Centricity Wealth Management LLC bought a new position in shares of Consolidated Edison during the 4th quarter worth about $39,000. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of Consolidated Edison in the 4th quarter valued at about $44,000. 66.29% of the stock is currently owned by institutional investors.

Consolidated Edison Price Performance

Consolidated Edison stock opened at $109.53 on Friday. Consolidated Edison, Inc. has a 52 week low of $87.28 and a 52 week high of $114.87. The company’s 50 day moving average price is $101.43 and its two-hundred day moving average price is $98.73. The stock has a market cap of $37.98 billion, a P/E ratio of 20.90, a P/E/G ratio of 3.05 and a beta of 0.30. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07.

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

Consolidated Edison Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th were paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 3.10%. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.83. The ex-dividend date was Wednesday, February 19th. Consolidated Edison’s payout ratio is presently 64.89%.

Analysts Set New Price Targets

ED has been the topic of several recent research reports. UBS Group increased their price target on Consolidated Edison from $110.00 to $113.00 and gave the stock a “neutral” rating in a report on Friday, March 21st. Evercore ISI cut Consolidated Edison from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 21st. Scotiabank boosted their price target on shares of Consolidated Edison from $100.00 to $101.00 and gave the company a “sector perform” rating in a research note on Monday, February 24th. Mizuho raised their price objective on shares of Consolidated Edison from $92.00 to $95.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Finally, Morgan Stanley boosted their target price on shares of Consolidated Edison from $85.00 to $91.00 and gave the stock an “underweight” rating in a research report on Thursday, March 20th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Consolidated Edison has an average rating of “Hold” and a consensus target price of $102.40.

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.