Xponance Inc. Has $4.89 Million Holdings in Consolidated Edison, Inc. (NYSE:ED)

Xponance Inc. increased its position in shares of Consolidated Edison, Inc. (NYSE:ED) by 0.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 53,721 shares of the utilities provider’s stock after purchasing an additional 196 shares during the quarter. Xponance Inc.’s holdings in Consolidated Edison were worth $4,887,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Moneta Group Investment Advisors LLC increased its stake in shares of Consolidated Edison by 89,231.2% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 4,145,861 shares of the utilities provider’s stock valued at $395,142,000 after purchasing an additional 4,141,220 shares during the last quarter. Norges Bank bought a new position in Consolidated Edison in the fourth quarter valued at about $318,245,000. Morgan Stanley raised its stake in Consolidated Edison by 33.3% during the fourth quarter. Morgan Stanley now owns 4,128,579 shares of the utilities provider’s stock worth $393,495,000 after acquiring an additional 1,030,730 shares in the last quarter. Newport Trust Company LLC bought a new position in shares of Consolidated Edison in the third quarter worth about $51,134,000. Finally, International Assets Investment Management LLC boosted its stake in shares of Consolidated Edison by 9,063.6% in the 4th quarter. International Assets Investment Management LLC now owns 519,028 shares of the utilities provider’s stock valued at $47,216,000 after purchasing an additional 513,364 shares in the last quarter. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ED has been the subject of several research reports. KeyCorp raised shares of Consolidated Edison from an “underweight” rating to a “sector weight” rating in a research note on Thursday, January 4th. Royal Bank of Canada dropped their price target on Consolidated Edison from $94.00 to $93.00 and set a “sector perform” rating for the company in a research note on Friday, February 16th. Barclays boosted their price objective on Consolidated Edison from $86.00 to $87.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 14th. UBS Group dropped their target price on Consolidated Edison from $99.00 to $94.00 and set a “neutral” rating for the company in a research report on Friday, February 16th. Finally, Scotiabank boosted their price target on Consolidated Edison from $90.00 to $91.00 and gave the stock a “sector underperform” rating in a report on Tuesday, February 20th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $87.96.

Consolidated Edison Price Performance

Consolidated Edison stock opened at $91.77 on Friday. The stock’s 50 day moving average is $88.97 and its 200 day moving average is $89.66. Consolidated Edison, Inc. has a one year low of $80.46 and a one year high of $100.92. The firm has a market cap of $31.71 billion, a P/E ratio of 12.78, a P/E/G ratio of 8.57 and a beta of 0.35. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.01 and a quick ratio of 0.94.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Thursday, February 15th. The utilities provider reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.02. Consolidated Edison had a net margin of 17.19% and a return on equity of 8.41%. The firm had revenue of $3.44 billion for the quarter, compared to the consensus estimate of $3.70 billion. During the same quarter in the previous year, the company earned $0.81 EPS. The company’s revenue for the quarter was down 14.6% on a year-over-year basis. As a group, research analysts expect that Consolidated Edison, Inc. will post 5.3 EPS for the current year.

Consolidated Edison Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Wednesday, May 15th will be issued a dividend of $0.83 per share. The ex-dividend date is Tuesday, May 14th. This represents a $3.32 dividend on an annualized basis and a yield of 3.62%. Consolidated Edison’s payout ratio is currently 46.24%.

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.