Consolidated Edison, Inc. (NYSE:ED) Shares Bought by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC raised its position in shares of Consolidated Edison, Inc. (NYSE:ED) by 1,327.9% in the fourth quarter, Holdings Channel.com reports. The fund owned 322,436 shares of the utilities provider’s stock after acquiring an additional 299,855 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Consolidated Edison were worth $28,700,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in ED. Vanguard Group Inc. boosted its position in Consolidated Edison by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 42,455,662 shares of the utilities provider’s stock worth $3,788,319,000 after acquiring an additional 488,752 shares during the last quarter. State Street Corp lifted its stake in Consolidated Edison by 1.7% in the 3rd quarter. State Street Corp now owns 23,429,218 shares of the utilities provider’s stock worth $2,439,684,000 after purchasing an additional 399,034 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Consolidated Edison by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 8,853,788 shares of the utilities provider’s stock worth $919,041,000 after purchasing an additional 107,281 shares during the last quarter. Norges Bank purchased a new stake in shares of Consolidated Edison in the fourth quarter valued at approximately $399,824,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Consolidated Edison by 3.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,225,989 shares of the utilities provider’s stock valued at $198,625,000 after purchasing an additional 77,323 shares during the last quarter. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Analyst Upgrades and Downgrades

ED has been the topic of a number of recent research reports. Mizuho boosted their price objective on Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Evercore ISI lowered shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 21st. Barclays boosted their target price on shares of Consolidated Edison from $92.00 to $95.00 and gave the company an “underweight” rating in a report on Monday, February 24th. Scotiabank raised their price target on shares of Consolidated Edison from $100.00 to $101.00 and gave the stock a “sector perform” rating in a report on Monday, February 24th. Finally, Morgan Stanley upped their price objective on Consolidated Edison from $85.00 to $91.00 and gave the company an “underweight” rating in a report on Thursday, March 20th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Consolidated Edison presently has a consensus rating of “Hold” and a consensus target price of $102.40.

Consolidated Edison Stock Up 1.8 %

NYSE:ED opened at $110.69 on Tuesday. Consolidated Edison, Inc. has a 52 week low of $87.28 and a 52 week high of $111.14. The stock’s fifty day moving average is $99.90 and its two-hundred day moving average is $98.53. The stock has a market capitalization of $38.38 billion, a price-to-earnings ratio of 21.12, a price-to-earnings-growth 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 (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 anticipate 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 3.07%. 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.