TCW Group Inc. Raises Stock Position in Consolidated Edison, Inc. (NYSE:ED)

TCW Group Inc. increased its position in shares of Consolidated Edison, Inc. (NYSE:ED) by 1.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 18,605 shares of the utilities provider’s stock after purchasing an additional 188 shares during the quarter. TCW Group Inc.’s holdings in Consolidated Edison were worth $1,660,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in ED. International Assets Investment Management LLC boosted its stake in shares of Consolidated Edison by 10,262.1% during the 3rd 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 period. Allworth Financial LP boosted its stake in shares of Consolidated Edison by 3.3% during the 3rd quarter. Allworth Financial LP now owns 5,021 shares of the utilities provider’s stock worth $523,000 after purchasing an additional 161 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Consolidated Edison by 54.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 119,601 shares of the utilities provider’s stock worth $12,444,000 after purchasing an additional 42,339 shares during the period. NorthCrest Asset Manangement LLC boosted its stake in shares of Consolidated Edison by 33.0% during the 3rd quarter. NorthCrest Asset Manangement LLC now owns 9,176 shares of the utilities provider’s stock worth $955,000 after purchasing an additional 2,278 shares during the period. Finally, J.W. Cole Advisors Inc. boosted its stake in shares of Consolidated Edison by 1.1% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 15,017 shares of the utilities provider’s stock worth $1,564,000 after purchasing an additional 165 shares during the period. 66.29% of the stock is owned by hedge funds and other institutional investors.

Consolidated Edison Trading Up 1.4 %

NYSE:ED opened at $99.66 on Tuesday. Consolidated Edison, Inc. has a one year low of $85.85 and a one year high of $107.75. 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 market cap of $34.52 billion, a P/E ratio of 19.02, a P/E/G ratio of 3.05 and a beta of 0.39. The firm has a 50-day simple moving average of $92.26 and a 200-day simple moving average of $97.95.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings results on Thursday, February 20th. The utilities provider reported $0.98 EPS for the quarter, beating the consensus estimate of $0.97 by $0.01. Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. The business had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.63 billion. Equities 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. Stockholders of record on Wednesday, February 19th will be given a $0.85 dividend. 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 3.41%. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.83. Consolidated Edison’s payout ratio is presently 64.89%.

Analyst Upgrades and Downgrades

ED has been the subject of a number of recent analyst reports. Mizuho lifted their price target on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Scotiabank lifted their price objective on shares of Consolidated Edison from $100.00 to $101.00 and gave the company a “sector perform” rating in a report on Monday. Barclays lifted their price objective on shares of Consolidated Edison from $92.00 to $95.00 and gave the company an “underweight” rating in a report on Monday. Morgan Stanley decreased their price objective on shares of Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating for the company in a report on Friday, November 22nd. Finally, Evercore ISI lowered shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 21st. Two investment 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. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $101.10.

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.