Consolidated Edison, Inc. (NYSE:ED) Shares Bought by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. raised its position in Consolidated Edison, Inc. (NYSE:ED) by 13.0% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 33,345 shares of the utilities provider’s stock after purchasing an additional 3,827 shares during the period. Daiwa Securities Group Inc.’s holdings in Consolidated Edison were worth $3,034,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Geode Capital Management LLC boosted its stake in shares of Consolidated Edison by 2.0% during the first quarter. Geode Capital Management LLC now owns 7,949,371 shares of the utilities provider’s stock valued at $761,387,000 after acquiring an additional 154,945 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of Consolidated Edison by 0.5% during the third quarter. Legal & General Group Plc now owns 6,201,026 shares of the utilities provider’s stock valued at $530,373,000 after acquiring an additional 27,850 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Consolidated Edison by 8.2% during the third quarter. Northern Trust Corp now owns 4,484,026 shares of the utilities provider’s stock valued at $383,519,000 after acquiring an additional 340,239 shares during the last quarter. Morgan Stanley boosted its stake in shares of Consolidated Edison by 1.8% during the third quarter. Morgan Stanley now owns 4,221,543 shares of the utilities provider’s stock valued at $361,069,000 after acquiring an additional 72,915 shares during the last quarter. Finally, Moneta Group Investment Advisors LLC boosted its stake in shares of Consolidated Edison by 89,231.2% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 4,145,861 shares of the utilities provider’s stock valued at $395,142,000 after acquiring an additional 4,141,220 shares during the last quarter. Institutional investors and hedge funds own 66.29% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on ED. LADENBURG THALM/SH SH began coverage on Consolidated Edison in a research note on Wednesday, January 3rd. They set a “neutral” rating and a $92.50 price objective on the stock. Scotiabank increased their target price on Consolidated Edison from $90.00 to $91.00 and gave the stock a “sector underperform” rating in a research report on Tuesday, February 20th. UBS Group reduced their target price on Consolidated Edison from $99.00 to $94.00 and set a “neutral” rating on the stock in a research report on Friday, February 16th. KeyCorp upgraded Consolidated Edison from an “underweight” rating to a “sector weight” rating in a research report on Thursday, January 4th. Finally, Barclays raised their price objective on Consolidated Edison from $86.00 to $87.00 and gave the stock an “equal weight” rating in a report on Thursday, March 14th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $87.96.

Consolidated Edison Price Performance

Shares of NYSE ED opened at $91.77 on Monday. Consolidated Edison, Inc. has a fifty-two week low of $80.46 and a fifty-two week high of $100.92. The business has a 50 day moving average price of $88.97 and a two-hundred day moving average price of $89.70. The company has a quick ratio of 0.94, a current ratio of 1.01 and a debt-to-equity ratio of 1.04. The firm has a market cap of $31.71 billion, a PE ratio of 12.78, a price-to-earnings-growth ratio of 8.65 and a beta of 0.35.

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

Consolidated Edison Announces Dividend

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

Consolidated Edison 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.