Consolidated Edison, Inc. (NYSE:ED) Shares Purchased by Vanguard Group Inc.

Vanguard Group Inc. boosted its position in shares of Consolidated Edison, Inc. (NYSE:ED) by 1.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 42,455,662 shares of the utilities provider’s stock after acquiring an additional 488,752 shares during the quarter. Vanguard Group Inc. owned about 12.26% of Consolidated Edison worth $3,788,319,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in ED. AlphaMark Advisors LLC acquired a new stake in shares of Consolidated Edison during the fourth quarter worth about $27,000. OFI Invest Asset Management purchased a new position in Consolidated Edison during the 4th quarter worth approximately $35,000. Fairway Wealth LLC acquired a new stake in Consolidated Edison during the 4th quarter valued at approximately $36,000. Centricity Wealth Management LLC purchased a new stake in shares of Consolidated Edison in the 4th quarter valued at $39,000. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of Consolidated Edison in the fourth quarter worth $44,000. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on ED shares. 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 research report on Monday, February 24th. Morgan Stanley boosted 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. UBS Group raised their target price on Consolidated Edison from $110.00 to $113.00 and gave the stock a “neutral” rating in a report on Friday. Mizuho upped their price objective on Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Finally, Scotiabank raised their price objective on shares of Consolidated Edison from $100.00 to $101.00 and gave the stock a “sector perform” rating in a research note on Monday, February 24th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $102.40.

Consolidated Edison Stock Down 0.9 %

Shares of NYSE ED opened at $106.87 on Tuesday. The firm has a market cap of $37.06 billion, a price-to-earnings ratio of 20.40, a price-to-earnings-growth ratio of 3.05 and a beta of 0.30. The company’s 50-day simple moving average is $98.28 and its 200-day simple moving average is $98.38. 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, Inc. has a 52-week low of $87.16 and a 52-week high of $109.36.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings data on Thursday, February 20th. The utilities provider reported $0.98 EPS for the quarter, topping the consensus estimate of $0.97 by $0.01. The company had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.63 billion. Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. Equities analysts predict that Consolidated Edison, Inc. will post 5.62 EPS for the current fiscal year.

Consolidated Edison Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th were issued a $0.85 dividend. The ex-dividend date was Wednesday, February 19th. This represents a $3.40 dividend on an annualized basis and a yield of 3.18%. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.83. Consolidated Edison’s dividend payout ratio (DPR) is presently 64.89%.

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.