111 Capital Makes New $381,000 Investment in Consolidated Edison, Inc. (NYSE:ED)

111 Capital bought a new position in shares of Consolidated Edison, Inc. (NYSE:ED) in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 4,266 shares of the utilities provider’s stock, valued at approximately $381,000.

A number of other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Consolidated Edison by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 42,455,662 shares of the utilities provider’s stock worth $3,788,319,000 after purchasing an additional 488,752 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Consolidated Edison by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 8,984,022 shares of the utilities provider’s stock worth $799,684,000 after buying an additional 130,234 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Consolidated Edison by 6.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,820,449 shares of the utilities provider’s stock worth $430,129,000 after buying an additional 271,088 shares during the last quarter. Norges Bank acquired a new position in shares of Consolidated Edison during the 4th quarter worth about $399,824,000. Finally, Northern Trust Corp boosted its stake in shares of Consolidated Edison by 10.2% during the 4th quarter. Northern Trust Corp now owns 4,207,753 shares of the utilities provider’s stock worth $375,458,000 after buying an additional 390,708 shares during the last quarter. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Trading Up 1.2%

Shares of NYSE:ED opened at $103.29 on Friday. Consolidated Edison, Inc. has a 52-week low of $87.28 and a 52-week high of $114.87. The company has a market capitalization of $37.22 billion, a P/E ratio of 19.71, a price-to-earnings-growth ratio of 3.05 and a beta of 0.29. The company has a 50-day simple moving average of $107.99 and a 200 day simple moving average of $100.12. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings data on Thursday, May 1st. The utilities provider reported $2.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.30 by ($0.05). The company had revenue of $4.80 billion for the quarter, compared to analyst estimates of $4.21 billion. Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. During the same quarter last year, the business earned $2.15 earnings per share. Sell-side analysts forecast that Consolidated Edison, Inc. will post 5.62 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Wednesday, May 14th will be given a dividend of $0.85 per share. The ex-dividend date is Wednesday, May 14th. This represents a $3.40 annualized dividend and a yield of 3.29%. Consolidated Edison’s dividend payout ratio (DPR) is presently 62.85%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ED. Citigroup increased their price objective on shares of Consolidated Edison from $116.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, April 9th. Wells Fargo & Company increased their price objective on shares of Consolidated Edison from $103.00 to $114.00 and gave the stock an “equal weight” rating in a research note on Friday, May 2nd. Guggenheim increased their price objective on shares of Consolidated Edison from $96.00 to $103.00 and gave the stock a “neutral” rating in a research note on Friday, May 2nd. Barclays increased their price objective on shares of Consolidated Edison from $100.00 to $101.00 and gave the stock an “underweight” rating in a research note on Monday, May 5th. Finally, Morgan Stanley reduced their price objective on shares of Consolidated Edison from $94.00 to $93.00 and set an “underweight” rating for the company in a research note on Thursday, May 22nd. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Consolidated Edison presently has a consensus rating of “Hold” and a consensus target price of $104.27.

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.