Consolidated Edison, Inc. (NYSE:ED) Shares Purchased by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co boosted its holdings in shares of Consolidated Edison, Inc. (NYSE:ED) by 30.4% in the 4th quarter, Holdings Channel reports. The fund owned 39,796 shares of the utilities provider’s stock after acquiring an additional 9,268 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Consolidated Edison were worth $3,551,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of ED. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Consolidated Edison by 8.4% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 609,563 shares of the utilities provider’s stock worth $54,397,000 after purchasing an additional 47,181 shares during the last quarter. Korea Investment CORP lifted its position in Consolidated Edison by 50.1% during the fourth quarter. Korea Investment CORP now owns 237,034 shares of the utilities provider’s stock worth $21,151,000 after buying an additional 79,154 shares in the last quarter. Graney & King LLC acquired a new position in Consolidated Edison during the fourth quarter worth $300,000. Penobscot Investment Management Company Inc. boosted its stake in Consolidated Edison by 5.7% during the fourth quarter. Penobscot Investment Management Company Inc. now owns 2,300 shares of the utilities provider’s stock worth $205,000 after buying an additional 125 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp grew its holdings in Consolidated Edison by 7.2% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 583,870 shares of the utilities provider’s stock valued at $52,099,000 after buying an additional 39,246 shares in the last quarter. Institutional investors and hedge funds own 66.29% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Morgan Stanley lifted their price target on Consolidated Edison from $85.00 to $91.00 and gave the stock an “underweight” rating in a report on Thursday, March 20th. Barclays lifted their target price on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock an “underweight” rating in a research note on Monday, February 24th. Scotiabank boosted their target price on shares of Consolidated Edison from $100.00 to $101.00 and gave the company a “sector perform” rating in a report on Monday, February 24th. Evercore ISI downgraded shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 21st. Finally, Mizuho lifted their price target on shares of Consolidated Edison from $92.00 to $95.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $102.40.

Consolidated Edison Stock Up 0.9 %

Shares of NYSE ED opened at $108.81 on Friday. 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 business’s 50 day moving average is $99.56 and its two-hundred day moving average is $98.56. Consolidated Edison, Inc. has a 52-week low of $87.28 and a 52-week high of $109.44. The firm has a market cap of $37.73 billion, a price-to-earnings ratio of 20.77, a PEG 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 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.63 billion. Research analysts predict that Consolidated Edison, Inc. will post 5.62 EPS for the current year.

Consolidated Edison Increases Dividend

The firm 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. The ex-dividend date was Wednesday, February 19th. This represents a $3.40 annualized dividend and a dividend yield of 3.12%. Consolidated Edison’s dividend payout ratio (DPR) is presently 64.89%.

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.