Consolidated Edison, Inc. (NYSE:ED) Shares Acquired by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC boosted its position in Consolidated Edison, Inc. (NYSE:ED) by 102.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 430,279 shares of the utilities provider’s stock after acquiring an additional 217,981 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Consolidated Edison were worth $38,394,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Hennion & Walsh Asset Management Inc. lifted its position in Consolidated Edison by 5.7% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 15,697 shares of the utilities provider’s stock valued at $1,401,000 after buying an additional 846 shares in the last quarter. RMR Wealth Builders boosted its position in Consolidated Edison by 8.7% during the 4th quarter. RMR Wealth Builders now owns 3,576 shares of the utilities provider’s stock worth $319,000 after purchasing an additional 287 shares during the period. Roble Belko & Company Inc acquired a new position in shares of Consolidated Edison during the fourth quarter worth about $89,000. Park Avenue Securities LLC boosted its position in shares of Consolidated Edison by 27.5% in the fourth quarter. Park Avenue Securities LLC now owns 23,103 shares of the utilities provider’s stock worth $2,061,000 after buying an additional 4,977 shares during the period. Finally, Board of the Pension Protection Fund purchased a new stake in shares of Consolidated Edison in the fourth quarter worth about $241,000. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on ED shares. Scotiabank raised Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and boosted their price target for the stock from $90.00 to $100.00 in a research report on Thursday, December 12th. Evercore ISI upgraded shares of Consolidated Edison from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 8th. UBS Group upped their target price on shares of Consolidated Edison from $105.00 to $106.00 and gave the company a “neutral” rating in a research note on Friday, September 20th. Morgan Stanley dropped their price target on shares of Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating on the stock in a research note on Friday, November 22nd. Finally, Jefferies Financial Group initiated coverage on Consolidated Edison in a research note on Wednesday, October 9th. They set a “hold” rating and a $108.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Consolidated Edison has a consensus rating of “Hold” and a consensus target price of $100.64.

Consolidated Edison Stock Performance

Shares of ED traded up $0.45 during mid-day trading on Thursday, hitting $90.68. The stock had a trading volume of 42,827 shares, compared to its average volume of 1,837,941. Consolidated Edison, Inc. has a fifty-two week low of $85.85 and a fifty-two week high of $107.75. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07. The company has a market cap of $31.41 billion, a PE ratio of 17.08, a PEG ratio of 2.81 and a beta of 0.38. The company’s fifty day simple moving average is $93.72 and its two-hundred day simple moving average is $97.90.

Consolidated Edison (NYSE:ED) last released its quarterly earnings data on Thursday, November 7th. The utilities provider reported $1.68 EPS for the quarter, topping analysts’ consensus estimates of $1.56 by $0.12. The firm had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $4.02 billion. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.70%. On average, equities analysts expect that Consolidated Edison, Inc. will post 5.35 earnings per share for the current year.

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.