Consolidated Edison, Inc. (NYSE:ED) Shares Bought by Global X Japan Co. Ltd.

Global X Japan Co. Ltd. lifted its holdings in shares of Consolidated Edison, Inc. (NYSE:ED) by 10.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,862 shares of the utilities provider’s stock after buying an additional 462 shares during the period. Global X Japan Co. Ltd.’s holdings in Consolidated Edison were worth $434,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ED. TD Private Client Wealth LLC lifted its stake in shares of Consolidated Edison by 4.7% in the 3rd quarter. TD Private Client Wealth LLC now owns 2,334 shares of the utilities provider’s stock worth $243,000 after acquiring an additional 104 shares during the period. D.A. Davidson & CO. raised its holdings in Consolidated Edison by 1.1% during the third quarter. D.A. Davidson & CO. now owns 11,142 shares of the utilities provider’s stock worth $1,160,000 after purchasing an additional 124 shares in the last quarter. Townsquare Capital LLC lifted its position in Consolidated Edison by 2.4% in the third quarter. Townsquare Capital LLC now owns 5,574 shares of the utilities provider’s stock valued at $580,000 after purchasing an additional 130 shares during the period. Trust Point Inc. boosted its holdings in Consolidated Edison by 4.9% in the 4th quarter. Trust Point Inc. now owns 2,790 shares of the utilities provider’s stock valued at $249,000 after purchasing an additional 131 shares in the last quarter. Finally, Brookstone Capital Management increased its position in Consolidated Edison by 0.6% during the 3rd quarter. Brookstone Capital Management now owns 24,173 shares of the utilities provider’s stock worth $2,517,000 after purchasing an additional 136 shares during the period. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Wall Street Analysts Forecast Growth

ED has been the subject of several recent analyst reports. Morgan Stanley reduced their price target on Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating for the company in a report on Friday, November 22nd. Evercore ISI downgraded Consolidated Edison from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 21st. Scotiabank raised shares of Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and upped their price target for the stock from $90.00 to $100.00 in a research note on Thursday, December 12th. Citigroup upgraded shares of Consolidated Edison from a “neutral” rating to a “buy” rating and raised their price objective for the company from $103.00 to $116.00 in a research note on Tuesday, October 15th. Finally, Mizuho increased their target price on shares of Consolidated Edison from $92.00 to $95.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $100.00.

Consolidated Edison Stock Up 0.7 %

ED stock opened at $96.05 on Friday. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93. The company’s 50 day simple moving average is $92.05 and its 200-day simple moving average is $98.12. Consolidated Edison, Inc. has a 12 month low of $85.85 and a 12 month high of $107.75. The firm has a market capitalization of $33.27 billion, a PE ratio of 18.09, a P/E/G ratio of 2.99 and a beta of 0.39.

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

Consolidated Edison Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Wednesday, February 19th will be paid a dividend of $0.85 per share. The ex-dividend date of this dividend is Wednesday, February 19th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.54%. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.83. Consolidated Edison’s dividend payout ratio (DPR) is presently 62.52%.

Consolidated Edison Company 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.