Natixis Advisors L.P. Has $10.22 Million Stock Position in Consolidated Edison, Inc. (NYSE:ED)

Natixis Advisors L.P. boosted its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 7.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 112,374 shares of the utilities provider’s stock after acquiring an additional 7,418 shares during the quarter. Natixis Advisors L.P.’s holdings in Consolidated Edison were worth $10,222,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Financial Gravity Asset Management Inc. lifted its stake in shares of Consolidated Edison by 215.6% during the third quarter. Financial Gravity Asset Management Inc. now owns 284 shares of the utilities provider’s stock valued at $25,000 after acquiring an additional 194 shares during the period. Turtle Creek Wealth Advisors LLC bought a new stake in Consolidated Edison during the 4th quarter worth about $29,000. Bruce G. Allen Investments LLC acquired a new position in Consolidated Edison during the 4th quarter valued at about $31,000. CVA Family Office LLC bought a new position in shares of Consolidated Edison in the 4th quarter valued at about $32,000. Finally, Venturi Wealth Management LLC grew its position in shares of Consolidated Edison by 62.2% during the 3rd quarter. Venturi Wealth Management LLC now owns 477 shares of the utilities provider’s stock worth $41,000 after buying an additional 183 shares during the period. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Stock Performance

Shares of ED stock opened at $97.55 on Thursday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.92 and a current ratio of 0.99. Consolidated Edison, Inc. has a 52 week low of $80.46 and a 52 week high of $100.08. The company’s 50 day moving average price is $90.62 and its two-hundred day moving average price is $90.28. The company has a market capitalization of $33.74 billion, a P/E ratio of 18.72, a price-to-earnings-growth ratio of 8.99 and a beta of 0.34.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings data on Thursday, May 2nd. The utilities provider reported $2.15 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.26. The business had revenue of $4.28 billion for the quarter, compared to analyst estimates of $4.40 billion. Consolidated Edison had a net margin of 12.43% and a return on equity of 8.79%. The firm’s quarterly revenue was down 2.8% on a year-over-year basis. During the same period last year, the business posted $1.83 earnings per share. On average, analysts expect that Consolidated Edison, Inc. will post 5.31 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Wednesday, May 15th will be issued 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 dividend yield of 3.40%. Consolidated Edison’s payout ratio is presently 63.72%.

Wall Street Analysts Forecast Growth

ED has been the topic of several analyst reports. Scotiabank cut their price objective on shares of Consolidated Edison from $91.00 to $85.00 and set a “sector underperform” rating on the stock in a report on Monday, April 22nd. UBS Group reduced their price target 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. Barclays upped their price objective on Consolidated Edison from $89.00 to $97.00 and gave the company an “equal weight” rating in a report on Tuesday. Royal Bank of Canada reduced their target price on Consolidated Edison from $94.00 to $93.00 and set a “sector perform” rating on the stock in a report on Friday, February 16th. Finally, Wells Fargo & Company upped their price target on Consolidated Edison from $93.00 to $97.00 and gave the company an “equal weight” rating in a research note on Friday, May 3rd. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Consolidated Edison presently has a consensus rating of “Hold” and a consensus target price of $88.46.

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.