Inceptionr LLC increased its holdings in Consolidated Edison, Inc. (NYSE:ED - Free Report) by 447.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,788 shares of the utilities provider's stock after purchasing an additional 21,892 shares during the period. Consolidated Edison makes up 0.5% of Inceptionr LLC's portfolio, making the stock its 2nd biggest position. Inceptionr LLC's holdings in Consolidated Edison were worth $2,390,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB acquired a new position in Consolidated Edison in the third quarter valued at about $776,000. JPMorgan Chase & Co. boosted its holdings in shares of Consolidated Edison by 4.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,145,128 shares of the utilities provider's stock worth $223,373,000 after acquiring an additional 82,985 shares in the last quarter. Hennessy Advisors Inc. grew its position in Consolidated Edison by 2.8% during the 4th quarter. Hennessy Advisors Inc. now owns 143,136 shares of the utilities provider's stock worth $12,772,000 after acquiring an additional 3,900 shares during the last quarter. Gateway Investment Advisers LLC raised its position in Consolidated Edison by 102.7% in the 4th quarter. Gateway Investment Advisers LLC now owns 430,279 shares of the utilities provider's stock valued at $38,394,000 after purchasing an additional 217,981 shares during the last quarter. Finally, National Pension Service boosted its stake in Consolidated Edison by 7.0% in the third quarter. National Pension Service now owns 468,572 shares of the utilities provider's stock worth $48,792,000 after purchasing an additional 30,838 shares in the last quarter. 66.29% of the stock is owned by institutional investors and hedge funds.
Shares of ED stock traded up $2.82 during trading hours on Friday, reaching $103.73. The company had a trading volume of 2,865,756 shares, compared to its average volume of 2,740,435. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93. Consolidated Edison, Inc. has a 1-year low of $87.16 and a 1-year high of $107.75. The company has a 50 day moving average of $94.39 and a 200 day moving average of $98.04. The firm has a market cap of $35.97 billion, a price-to-earnings ratio of 19.80, a P/E/G ratio of 3.05 and a beta of 0.39.
Consolidated Edison (NYSE:ED - Get Free Report) last released its earnings results 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. The firm had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.63 billion. Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. On average, equities research analysts anticipate that Consolidated Edison, Inc. will post 5.62 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th will be issued a $0.85 dividend. The ex-dividend date of this dividend is Wednesday, February 19th. This is a positive change from Consolidated Edison's previous quarterly dividend of $0.83. This represents a $3.40 annualized dividend and a yield of 3.28%. Consolidated Edison's dividend payout ratio (DPR) is 64.89%.
ED has been the subject of a number of research reports. Evercore ISI lowered Consolidated Edison from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, January 21st. Mizuho boosted their target price 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. Barclays increased 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. 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 report on Monday, February 24th. Finally, Morgan Stanley reduced their price objective on Consolidated Edison from $88.00 to $85.00 and set an "underweight" rating on the stock in a report on Friday, November 22nd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $101.50.
Get Our Latest Analysis on ED
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.
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