169,496 Shares in Consolidated Edison, Inc. (NYSE:ED) Purchased by Lbp Am Sa

Lbp Am Sa acquired a new position in shares of Consolidated Edison, Inc. (NYSE:ED) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 169,496 shares of the utilities provider’s stock, valued at approximately $15,124,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of ED. AlphaMark Advisors LLC acquired a new stake in Consolidated Edison during the fourth quarter worth about $27,000. Ashton Thomas Securities LLC acquired a new stake in Consolidated Edison during the third quarter worth about $30,000. OFI Invest Asset Management acquired a new stake in Consolidated Edison during the fourth quarter worth about $35,000. Fairway Wealth LLC acquired a new stake in Consolidated Edison during the fourth quarter worth about $36,000. Finally, Centricity Wealth Management LLC acquired a new stake in shares of Consolidated Edison in the fourth quarter valued at approximately $39,000. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Trading Up 1.9 %

Shares of NYSE:ED opened at $104.61 on Friday. The stock has a market capitalization of $36.28 billion, a price-to-earnings ratio of 19.96, a PEG ratio of 3.05 and a beta of 0.30. Consolidated Edison, Inc. has a 1-year low of $87.16 and a 1-year high of $107.97. 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 company has a 50 day moving average price of $95.62 and a 200 day moving average price of $98.15.

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

Consolidated Edison Increases Dividend

The company 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 $0.85 dividend. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend is Wednesday, February 19th. This represents a $3.40 dividend on an annualized basis and a yield of 3.25%. Consolidated Edison’s dividend payout ratio (DPR) is currently 64.89%.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Scotiabank raised their price target on shares of Consolidated Edison from $100.00 to $101.00 and gave the company a “sector perform” rating in a research note on Monday, February 24th. UBS Group raised their price target on shares of Consolidated Edison from $105.00 to $110.00 and gave the company a “neutral” rating in a research note on Tuesday, February 25th. Mizuho raised their price target 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. 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, Barclays raised their price target on shares of Consolidated Edison from $92.00 to $95.00 and gave the company an “underweight” rating in a research note on Monday, February 24th. Two 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 issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $101.50.

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.