CWA Asset Management Group LLC Buys 107 Shares of Consolidated Edison, Inc. (NYSE:ED)

CWA Asset Management Group LLC boosted its stake in Consolidated Edison, Inc. (NYSE:ED – Get Rating) by 2.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,908 shares of the utilities provider’s stock after purchasing an additional 107 shares during the quarter. CWA Asset Management Group LLC’s holdings in Consolidated Edison were worth $372,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Consolidated Edison by 1.1% during the 3rd quarter. Vanguard Group Inc. now owns 42,918,192 shares of the utilities provider’s stock valued at $3,680,664,000 after acquiring an additional 483,980 shares during the last quarter. Legal & General Group Plc boosted its position in shares of Consolidated Edison by 0.7% during the 2nd quarter. Legal & General Group Plc now owns 6,454,457 shares of the utilities provider’s stock valued at $613,822,000 after acquiring an additional 46,601 shares during the last quarter. Northern Trust Corp boosted its position in shares of Consolidated Edison by 2.0% during the 2nd quarter. Northern Trust Corp now owns 4,118,917 shares of the utilities provider’s stock valued at $391,709,000 after acquiring an additional 82,719 shares during the last quarter. UBS Asset Management Americas Inc. boosted its position in shares of Consolidated Edison by 7.4% during the 3rd quarter. UBS Asset Management Americas Inc. now owns 4,087,000 shares of the utilities provider’s stock valued at $350,501,000 after acquiring an additional 281,500 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Consolidated Edison by 6.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,072,363 shares of the utilities provider’s stock valued at $263,485,000 after buying an additional 196,032 shares in the last quarter. Institutional investors own 64.95% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on ED. Credit Suisse Group decreased their price objective on Consolidated Edison from $95.00 to $91.00 and set a “neutral” rating on the stock in a report on Friday, February 17th. Citigroup raised their price objective on Consolidated Edison from $92.00 to $103.00 and gave the company a “neutral” rating in a report on Wednesday, February 22nd. JPMorgan Chase & Co. decreased their price objective on Consolidated Edison from $88.00 to $87.00 and set an “underweight” rating on the stock in a report on Thursday, February 2nd. Morgan Stanley decreased their price objective on Consolidated Edison from $79.00 to $76.00 and set an “underweight” rating on the stock in a report on Wednesday, February 22nd. Finally, StockNews.com assumed coverage on Consolidated Edison in a report on Thursday. They set a “hold” rating on the stock. Five analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $89.25.

Consolidated Edison Price Performance

Shares of ED stock opened at $95.63 on Friday. The firm has a market cap of $33.95 billion, a P/E ratio of 20.48, a P/E/G ratio of 9.85 and a beta of 0.35. Consolidated Edison, Inc. has a fifty-two week low of $78.10 and a fifty-two week high of $102.21. The business’s 50 day moving average price is $93.34 and its 200-day moving average price is $92.97. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.10 and a current ratio of 1.14.

Consolidated Edison (NYSE:ED – Get Rating) last issued its quarterly earnings data on Thursday, February 16th. The utilities provider reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.03. The firm had revenue of $4.03 billion for the quarter, compared to analyst estimates of $3.18 billion. Consolidated Edison had a return on equity of 7.79% and a net margin of 10.59%. The business’s quarterly revenue was up 18.0% compared to the same quarter last year. During the same period last year, the company earned $1.00 EPS. On average, equities research analysts anticipate that Consolidated Edison, Inc. will post 4.86 earnings per share for the current year.

Consolidated Edison Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 15th. Stockholders of record on Wednesday, February 15th were given a $0.81 dividend. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.79. This represents a $3.24 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date was Tuesday, February 14th. Consolidated Edison’s dividend payout ratio (DPR) is currently 69.38%.

About Consolidated Edison

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Consolidated Edison, Inc is a holding company, which engages in the business of regulated electric, gas, and steam delivery. It operates through the following segments: Consolidated Edison Company of New York (CECONY), Orange and Rockland Utilities(O&R), Con Edison Clean Energy Businesses and Con Edison Transmission.