Consolidated Edison, Inc. (NYSE:ED) Stake Boosted by Haverford Trust Co

Haverford Trust Co increased its position in shares of Consolidated Edison, Inc. (NYSE:ED) by 3.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,709 shares of the utilities provider’s stock after acquiring an additional 132 shares during the period. Haverford Trust Co’s holdings in Consolidated Edison were worth $331,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the company. Point72 Asset Management L.P. grew its stake in shares of Consolidated Edison by 1,766.0% in the 3rd quarter. Point72 Asset Management L.P. now owns 988,961 shares of the utilities provider’s stock valued at $102,980,000 after buying an additional 935,962 shares in the last quarter. Burkehill Global Management LP acquired a new stake in Consolidated Edison in the fourth quarter valued at approximately $53,538,000. FMR LLC lifted its stake in Consolidated Edison by 82.3% in the third quarter. FMR LLC now owns 1,268,424 shares of the utilities provider’s stock valued at $132,081,000 after acquiring an additional 572,530 shares during the last quarter. Vanguard Group Inc. grew its position in Consolidated Edison by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 42,455,662 shares of the utilities provider’s stock worth $3,788,319,000 after acquiring an additional 488,752 shares in the last quarter. Finally, National Bank of Canada FI increased its stake in shares of Consolidated Edison by 350.6% during the 3rd 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. Institutional investors and hedge funds own 66.29% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Mizuho lifted their price objective on shares of Consolidated Edison from $92.00 to $95.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Evercore ISI downgraded Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 21st. Morgan Stanley raised their price objective on Consolidated Edison from $85.00 to $91.00 and gave the company an “underweight” rating in a research note on Thursday, March 20th. Barclays boosted their target price on Consolidated Edison from $92.00 to $95.00 and gave the stock an “underweight” rating in a report on Monday, February 24th. Finally, UBS Group lifted their price target on shares of Consolidated Edison from $110.00 to $113.00 and gave the company a “neutral” rating in a research report on Friday, March 21st. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $102.40.

Consolidated Edison Trading Down 1.2 %

Shares of ED stock opened at $105.60 on Wednesday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01. The firm has a fifty day moving average of $98.60 and a 200-day moving average of $98.40. Consolidated Edison, Inc. has a 52-week low of $87.16 and a 52-week high of $109.36. The stock has a market cap of $36.62 billion, a price-to-earnings ratio of 20.15, a P/E/G ratio of 3.05 and a beta of 0.30.

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

Consolidated Edison Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th were given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 3.22%. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.83. The ex-dividend date was Wednesday, February 19th. Consolidated Edison’s dividend payout ratio is 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.