OLD Mission Capital LLC Takes $2.91 Million Position in Consolidated Edison, Inc. (NYSE:ED)

OLD Mission Capital LLC acquired a new position in shares of Consolidated Edison, Inc. (NYSE:ED) during the 4th quarter, HoldingsChannel reports. The firm acquired 32,634 shares of the utilities provider’s stock, valued at approximately $2,912,000.

A number of other large investors have also recently bought and sold shares of ED. TD Private Client Wealth LLC grew its holdings in shares of Consolidated Edison by 4.7% during the third quarter. TD Private Client Wealth LLC now owns 2,334 shares of the utilities provider’s stock valued at $243,000 after purchasing an additional 104 shares during the last quarter. Jacobi Capital Management LLC boosted its position in Consolidated Edison by 4.2% during the 4th quarter. Jacobi Capital Management LLC now owns 2,569 shares of the utilities provider’s stock valued at $229,000 after purchasing an additional 104 shares during the period. Richwood Investment Advisors LLC grew its stake in Consolidated Edison by 2.3% during the 4th quarter. Richwood Investment Advisors LLC now owns 5,194 shares of the utilities provider’s stock worth $463,000 after buying an additional 115 shares during the last quarter. Penobscot Investment Management Company Inc. increased its position in Consolidated Edison by 5.7% in the fourth quarter. Penobscot Investment Management Company Inc. now owns 2,300 shares of the utilities provider’s stock worth $205,000 after buying an additional 125 shares during the period. Finally, Townsquare Capital LLC lifted its stake 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 buying an additional 130 shares during the last quarter. Institutional investors own 66.29% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. UBS Group upped their price target on shares of Consolidated Edison from $110.00 to $113.00 and gave the stock a “neutral” rating in a research report on Friday, March 21st. Evercore ISI cut shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 21st. Mizuho lifted their price target on Consolidated Edison from $92.00 to $95.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Scotiabank increased their price objective on Consolidated Edison from $100.00 to $101.00 and gave the stock a “sector perform” rating in a report on Monday, February 24th. Finally, Morgan Stanley lifted their target price on Consolidated Edison from $85.00 to $91.00 and gave the company an “underweight” rating in a research note on Thursday, March 20th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $102.40.

Consolidated Edison Trading Down 0.5 %

Shares of ED stock opened at $110.07 on Wednesday. The stock has a 50-day simple moving average of $100.24 and a 200 day simple moving average of $98.56. The stock has a market capitalization of $38.17 billion, a P/E ratio of 21.01, a P/E/G ratio of 3.05 and a beta of 0.30. Consolidated Edison, Inc. has a fifty-two week low of $87.28 and a fifty-two week high of $111.11. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings data on Thursday, February 20th. The utilities provider reported $0.98 earnings per share 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 company had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.63 billion. On average, sell-side analysts expect that Consolidated Edison, Inc. will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Increases Dividend

The firm 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 is a positive change from Consolidated Edison’s previous quarterly dividend of $0.83. The ex-dividend date was Wednesday, February 19th. This represents a $3.40 annualized dividend and a yield of 3.09%. Consolidated Edison’s payout ratio is 64.89%.

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.