OLD Second National Bank of Aurora Purchases Shares of 1,432 Consolidated Edison, Inc. (NYSE:ED)

OLD Second National Bank of Aurora purchased a new stake in shares of Consolidated Edison, Inc. (NYSE:ED) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 1,432 shares of the utilities provider’s stock, valued at approximately $128,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Point72 Asset Management L.P. grew its holdings in shares of 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 purchasing an additional 935,962 shares during the last quarter. FMR LLC grew its holdings in shares of 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 purchasing an additional 572,530 shares during the last quarter. International Assets Investment Management LLC grew its holdings in shares of Consolidated Edison by 10,262.1% in the third quarter. International Assets Investment Management LLC now owns 553,546 shares of the utilities provider’s stock worth $57,641,000 after purchasing an additional 548,204 shares during the last quarter. National Bank of Canada FI grew its holdings 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 worth $64,634,000 after purchasing an additional 482,953 shares during the last quarter. Finally, State Street Corp grew its holdings in shares of Consolidated Edison by 1.7% in the third quarter. State Street Corp now owns 23,429,218 shares of the utilities provider’s stock worth $2,439,684,000 after purchasing an additional 399,034 shares during the last quarter. 66.29% of the stock is currently owned by institutional investors.

Consolidated Edison Stock Performance

Shares of Consolidated Edison stock opened at $92.60 on Thursday. 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 firm has a market capitalization of $32.08 billion, a P/E ratio of 17.44, a P/E/G ratio of 2.89 and a beta of 0.38. The business has a fifty day simple moving average of $92.78 and a two-hundred day simple moving average of $98.10. Consolidated Edison, Inc. has a 12 month low of $85.85 and a 12 month high of $107.75.

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

Consolidated Edison Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Wednesday, February 19th will be given a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 3.67%. The ex-dividend date of this dividend is Wednesday, February 19th. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.83. Consolidated Edison’s payout ratio is currently 62.52%.

Analyst Upgrades and Downgrades

ED has been the topic of several recent analyst reports. Jefferies Financial Group initiated coverage on shares of Consolidated Edison in a report on Wednesday, October 9th. They issued a “hold” rating and a $108.00 target price on the stock. Morgan Stanley cut their price target on shares of Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating on the stock in a report on Friday, November 22nd. Citigroup upgraded shares of Consolidated Edison from a “neutral” rating to a “buy” rating and lifted their price target for the company from $103.00 to $116.00 in a report on Tuesday, October 15th. Barclays cut their price target on shares of Consolidated Edison from $99.00 to $92.00 and set an “underweight” rating on the stock in a report on Monday. Finally, Evercore ISI cut shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 21st. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $100.00.

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.