Livforsakringsbolaget Skandia Omsesidigt Boosts Stake in Consolidated Edison, Inc. (NYSE:ED)

Livforsakringsbolaget Skandia Omsesidigt boosted its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 38.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 975 shares of the utilities provider’s stock after buying an additional 272 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Consolidated Edison were worth $89,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Geode Capital Management LLC lifted its holdings in shares of Consolidated Edison by 2.0% during the 1st quarter. Geode Capital Management LLC now owns 7,949,371 shares of the utilities provider’s stock valued at $761,387,000 after purchasing an additional 154,945 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of Consolidated Edison by 0.5% during the 3rd quarter. Legal & General Group Plc now owns 6,201,026 shares of the utilities provider’s stock valued at $530,373,000 after purchasing an additional 27,850 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Consolidated Edison by 8.2% during the 3rd quarter. Northern Trust Corp now owns 4,484,026 shares of the utilities provider’s stock valued at $383,519,000 after purchasing an additional 340,239 shares during the last quarter. Morgan Stanley increased its position in shares of Consolidated Edison by 1.8% in the 3rd quarter. Morgan Stanley now owns 4,221,543 shares of the utilities provider’s stock valued at $361,069,000 after acquiring an additional 72,915 shares during the period. Finally, Moneta Group Investment Advisors LLC increased its position in shares of Consolidated Edison by 89,231.2% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 4,145,861 shares of the utilities provider’s stock valued at $395,142,000 after acquiring an additional 4,141,220 shares during the period. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on ED shares. Barclays upped their target price on Consolidated Edison from $86.00 to $87.00 and gave the company an “equal weight” rating in a research report on Thursday, March 14th. KeyCorp raised Consolidated Edison from an “underweight” rating to a “sector weight” rating in a research report on Thursday, January 4th. Royal Bank of Canada cut their target price on Consolidated Edison from $94.00 to $93.00 and set a “sector perform” rating on the stock in a research report on Friday, February 16th. LADENBURG THALM/SH SH began coverage on Consolidated Edison in a research report on Wednesday, January 3rd. They set a “neutral” rating and a $92.50 price target on the stock. Finally, UBS Group dropped their target price on Consolidated Edison from $99.00 to $94.00 and set a “neutral” rating on the stock in a research report on Friday, February 16th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Consolidated Edison currently has a consensus rating of “Hold” and a consensus target price of $87.96.

Consolidated Edison Trading Up 1.0 %

ED opened at $91.77 on Friday. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.01 and a quick ratio of 0.94. The company’s 50 day simple moving average is $88.97 and its two-hundred day simple moving average is $89.62. Consolidated Edison, Inc. has a 1-year low of $80.46 and a 1-year high of $100.92. The firm has a market capitalization of $31.71 billion, a price-to-earnings ratio of 12.78, a price-to-earnings-growth ratio of 8.57 and a beta of 0.35.

Consolidated Edison (NYSE:ED) last released its quarterly earnings results on Thursday, February 15th. The utilities provider reported $1.00 EPS for the quarter, beating the consensus estimate of $0.98 by $0.02. The firm had revenue of $3.44 billion for the quarter, compared to analyst estimates of $3.70 billion. Consolidated Edison had a net margin of 17.19% and a return on equity of 8.41%. The business’s revenue for the quarter was down 14.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.81 EPS. Analysts expect that Consolidated Edison, Inc. will post 5.3 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Wednesday, May 15th will be given a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 3.62%. The ex-dividend date is Tuesday, May 14th. Consolidated Edison’s payout ratio is presently 46.24%.

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.