Royal London Asset Management Ltd. Grows Position in Consolidated Edison, Inc. (NYSE:ED)

Royal London Asset Management Ltd. boosted its holdings in Consolidated Edison, Inc. (NYSE:ED) by 82.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 260,860 shares of the utilities provider’s stock after acquiring an additional 118,260 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Consolidated Edison were worth $23,277,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of ED. Point72 Asset Management L.P. raised its position in Consolidated Edison by 1,766.0% in the third quarter. Point72 Asset Management L.P. now owns 988,961 shares of the utilities provider’s stock worth $102,980,000 after acquiring an additional 935,962 shares in the last quarter. Burkehill Global Management LP purchased a new position in Consolidated Edison in the fourth quarter worth $53,538,000. FMR LLC raised its position in Consolidated Edison by 82.3% in the third quarter. FMR LLC now owns 1,268,424 shares of the utilities provider’s stock worth $132,081,000 after acquiring an additional 572,530 shares in the last quarter. National Bank of Canada FI increased its position in shares of Consolidated Edison by 350.6% in the third quarter. National Bank of Canada FI now owns 620,705 shares of the utilities provider’s stock valued at $64,634,000 after buying an additional 482,953 shares in the last quarter. Finally, Jupiter Asset Management Ltd. purchased a new position in shares of Consolidated Edison in the fourth quarter valued at $42,916,000. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Analyst Ratings Changes

ED has been the subject of a number of research analyst reports. Scotiabank raised their price target on Consolidated Edison from $100.00 to $101.00 and gave the company a “sector perform” rating in a research report on Monday, February 24th. Evercore ISI cut Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 21st. Morgan Stanley raised their price target on Consolidated Edison from $85.00 to $91.00 and gave the company an “underweight” rating in a research report on Thursday. Barclays raised their price target on Consolidated Edison from $92.00 to $95.00 and gave the company an “underweight” rating in a research report on Monday, February 24th. Finally, UBS Group increased their price objective on Consolidated Edison from $110.00 to $113.00 and gave the company a “neutral” rating in a research note on Friday. Two investment 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, Consolidated Edison presently has an average rating of “Hold” and an average target price of $102.40.

Consolidated Edison Stock Down 0.6 %

Shares of NYSE:ED opened at $107.85 on Friday. The stock’s 50-day moving average price is $97.91 and its two-hundred day moving average price is $98.44. 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 $87.16 and a 12-month high of $109.36. The firm has a market cap of $37.40 billion, a price-to-earnings ratio of 20.58, a PEG ratio of 3.05 and a beta of 0.30.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Thursday, February 20th. The utilities provider reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $3.63 billion. On average, research analysts forecast that Consolidated Edison, Inc. will post 5.62 EPS for the current year.

Consolidated Edison Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th were paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 3.15%. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.83. The ex-dividend date was Wednesday, February 19th. 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.