UniSuper Management Pty Ltd Has $2.94 Million Holdings in Consolidated Edison, Inc. (NYSE:ED)

UniSuper Management Pty Ltd boosted its position in shares of Consolidated Edison, Inc. (NYSE:ED) by 30.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,977 shares of the utilities provider’s stock after acquiring an additional 7,708 shares during the period. UniSuper Management Pty Ltd’s holdings in Consolidated Edison were worth $2,943,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. TD Private Client Wealth LLC grew its stake in shares of Consolidated Edison by 4.7% in the third quarter. TD Private Client Wealth LLC now owns 2,334 shares of the utilities provider’s stock worth $243,000 after acquiring an additional 104 shares during the last quarter. Jacobi Capital Management LLC boosted its holdings in Consolidated Edison by 4.2% in the 4th quarter. Jacobi Capital Management LLC now owns 2,569 shares of the utilities provider’s stock valued at $229,000 after purchasing an additional 104 shares during the period. Richwood Investment Advisors LLC grew its position in Consolidated Edison by 2.3% in the 4th quarter. Richwood Investment Advisors LLC now owns 5,194 shares of the utilities provider’s stock worth $463,000 after purchasing an additional 115 shares during the last quarter. D.A. Davidson & CO. increased its holdings in shares of Consolidated Edison by 1.1% during the 3rd quarter. D.A. Davidson & CO. now owns 11,142 shares of the utilities provider’s stock worth $1,160,000 after purchasing an additional 124 shares during the period. Finally, Penobscot Investment Management Company Inc. raised its position in shares of 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 valued at $205,000 after buying an additional 125 shares during the last quarter. 66.29% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Scotiabank lifted their target price on Consolidated Edison from $100.00 to $101.00 and gave the stock a “sector perform” rating in a research report on Monday, February 24th. UBS Group boosted their price objective on Consolidated Edison from $110.00 to $113.00 and gave the company a “neutral” rating in a research report on Friday, March 21st. Mizuho raised their target price on Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Morgan Stanley lifted their price target on shares of Consolidated Edison from $85.00 to $91.00 and gave the stock an “underweight” rating in a research note on Thursday, March 20th. Finally, Barclays increased their price objective on shares of Consolidated Edison from $92.00 to $95.00 and gave the company an “underweight” rating in a research note on Monday, February 24th. 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 issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $102.40.

Consolidated Edison Price Performance

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 firm has a market cap of $37.73 billion, a PE ratio of 20.77, a price-to-earnings-growth ratio of 3.05 and a beta of 0.30. Consolidated Edison, Inc. has a 12 month low of $87.28 and a 12 month high of $109.44. The company’s 50-day moving average price is $99.56 and its two-hundred day moving average price is $98.51.

Consolidated Edison (NYSE:ED) last announced its earnings results on Thursday, February 20th. The utilities provider reported $0.98 EPS 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 the consensus estimate of $3.63 billion. On average, equities analysts anticipate that Consolidated Edison, Inc. will post 5.62 EPS for the current fiscal year.

Consolidated Edison Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Wednesday, February 19th were given a dividend of $0.85 per share. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend was Wednesday, February 19th. This represents a $3.40 annualized dividend and a yield of 3.12%. Consolidated Edison’s dividend payout ratio is 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.