Rothschild Investment LLC Increases Stake in Consolidated Edison, Inc. (NYSE:ED)

Rothschild Investment LLC boosted its holdings in Consolidated Edison, Inc. (NYSE:ED) by 0.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 28,763 shares of the utilities provider’s stock after purchasing an additional 154 shares during the quarter. Rothschild Investment LLC’s holdings in Consolidated Edison were worth $2,567,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB purchased a new stake in shares of Consolidated Edison in the third quarter worth $776,000. JPMorgan Chase & Co. lifted its holdings in shares of Consolidated Edison by 4.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,145,128 shares of the utilities provider’s stock worth $223,373,000 after acquiring an additional 82,985 shares during the last quarter. Hennessy Advisors Inc. lifted its holdings in Consolidated Edison by 2.8% during the 4th quarter. Hennessy Advisors Inc. now owns 143,136 shares of the utilities provider’s stock valued at $12,772,000 after buying an additional 3,900 shares in the last quarter. Gateway Investment Advisers LLC increased its position in Consolidated Edison by 102.7% during the 4th quarter. Gateway Investment Advisers LLC now owns 430,279 shares of the utilities provider’s stock valued at $38,394,000 after purchasing an additional 217,981 shares during the period. Finally, National Pension Service grew its position in shares of Consolidated Edison by 7.0% in the 3rd quarter. National Pension Service now owns 468,572 shares of the utilities provider’s stock worth $48,792,000 after buying an additional 30,838 shares during the last quarter. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Stock Up 2.6 %

Shares of NYSE:ED opened at $98.27 on Monday. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.07. Consolidated Edison, Inc. has a 12 month low of $85.85 and a 12 month high of $107.75. The company has a 50-day moving average price of $92.09 and a 200 day moving average price of $97.96. The company has a market cap of $34.04 billion, a price-to-earnings ratio of 18.75, a PEG ratio of 3.05 and a beta of 0.39.

Consolidated Edison (NYSE:ED) last issued its earnings results on Thursday, February 20th. The utilities provider reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.01. The business had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.63 billion. Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. As a group, equities research 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 will be paid on Friday, March 14th. Stockholders of record on Wednesday, February 19th will be paid a dividend of $0.85 per share. The ex-dividend date of this dividend is Wednesday, February 19th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.46%. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.83. Consolidated Edison’s payout ratio is currently 64.89%.

Analyst Upgrades and Downgrades

ED has been the subject of several recent analyst reports. Mizuho boosted their price target on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Barclays dropped their price objective on shares of Consolidated Edison from $99.00 to $92.00 and set an “underweight” rating for the company in a research note on Monday, January 27th. Evercore ISI lowered Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 21st. Morgan Stanley decreased their price target on Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating for the company in a research report on Friday, November 22nd. Finally, Scotiabank raised Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and raised their price objective for the company from $90.00 to $100.00 in a research note on Thursday, December 12th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has assigned 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 $100.70.

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.