Brandywine Global Investment Management LLC Has $18.77 Million Stock Position in Consolidated Edison, Inc. (NYSE:ED)

Brandywine Global Investment Management LLC lessened its stake in Consolidated Edison, Inc. (NYSE:ED) by 7.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 210,405 shares of the utilities provider’s stock after selling 16,177 shares during the quarter. Brandywine Global Investment Management LLC owned 0.06% of Consolidated Edison worth $18,774,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. AlphaMark Advisors LLC acquired a new stake in shares of Consolidated Edison in the fourth quarter valued at approximately $27,000. OFI Invest Asset Management bought a new stake in Consolidated Edison during the 4th quarter worth about $35,000. Fairway Wealth LLC acquired a new position in shares of Consolidated Edison during the 4th quarter worth about $36,000. Centricity Wealth Management LLC bought a new position in shares of Consolidated Edison in the 4th quarter valued at about $39,000. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new position in Consolidated Edison during the fourth quarter valued at approximately $44,000. Institutional investors own 66.29% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ED. Scotiabank upped their price objective on Consolidated Edison from $100.00 to $101.00 and gave the stock a “sector perform” rating in a research note on Monday, February 24th. Evercore ISI downgraded Consolidated Edison from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 21st. Morgan Stanley lifted their target price on shares of Consolidated Edison from $85.00 to $91.00 and gave the stock an “underweight” rating in a report on Thursday, March 20th. Barclays increased their price target 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. Finally, UBS Group boosted their price objective on Consolidated Edison from $110.00 to $113.00 and gave the stock a “neutral” rating in a report on Friday, March 21st. Two research 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. Based on data from MarketBeat, Consolidated Edison has a consensus rating of “Hold” and an average price target of $102.40.

Consolidated Edison Price Performance

Shares of NYSE:ED opened at $108.81 on Monday. The firm has a 50 day moving average of $99.56 and a 200-day moving average of $98.47. Consolidated Edison, Inc. has a 12 month low of $87.28 and a 12 month high of $109.44. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.07. The stock has a market capitalization of $37.73 billion, a PE ratio of 20.77, a PEG ratio of 3.05 and a beta of 0.30.

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

Consolidated Edison Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders 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 dividend yield of 3.12%. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.83. Consolidated Edison’s dividend payout ratio is 64.89%.

About Consolidated Edison

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.