Consolidated Edison, Inc. (ED) Position Increased by Rhumbline Advisers

Rhumbline Advisers boosted its position in shares of Consolidated Edison, Inc. (NYSE:ED) by 5.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 593,611 shares of the utilities provider’s stock after purchasing an additional 28,071 shares during the quarter. Rhumbline Advisers’ holdings in Consolidated Edison were worth $50,427,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in ED. Parametric Portfolio Associates LLC lifted its stake in Consolidated Edison by 5.6% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 1,109,470 shares of the utilities provider’s stock valued at $89,512,000 after acquiring an additional 59,098 shares during the period. Private Advisor Group LLC lifted its stake in Consolidated Edison by 16.2% during the 3rd quarter. Private Advisor Group LLC now owns 39,980 shares of the utilities provider’s stock valued at $3,257,000 after acquiring an additional 5,567 shares during the period. Janus Henderson Group PLC lifted its stake in Consolidated Edison by 25.3% during the 3rd quarter. Janus Henderson Group PLC now owns 2,883,134 shares of the utilities provider’s stock valued at $232,610,000 after acquiring an additional 582,457 shares during the period. APG Asset Management N.V. lifted its stake in Consolidated Edison by 28.4% during the 4th quarter. APG Asset Management N.V. now owns 5,209,155 shares of the utilities provider’s stock valued at $368,519,000 after acquiring an additional 1,153,600 shares during the period. Finally, Lincoln National Corp lifted its stake in Consolidated Edison by 24.6% during the 3rd quarter. Lincoln National Corp now owns 9,637 shares of the utilities provider’s stock valued at $778,000 after acquiring an additional 1,901 shares during the period. 56.79% of the stock is currently owned by institutional investors.

Consolidated Edison, Inc. (ED) opened at $77.77 on Monday. Consolidated Edison, Inc. has a one year low of $72.63 and a one year high of $89.70. The company has a quick ratio of 0.65, a current ratio of 0.72 and a debt-to-equity ratio of 0.96. The firm has a market cap of $24,139.58, a P/E ratio of 18.88, a PEG ratio of 9.10 and a beta of 0.03.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings data on Thursday, February 15th. The utilities provider reported $0.80 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $0.02. Consolidated Edison had a net margin of 12.67% and a return on equity of 8.51%. The firm had revenue of $2.96 billion for the quarter, compared to analysts’ expectations of $2.64 billion. During the same quarter in the prior year, the business earned $0.69 EPS. The business’s quarterly revenue was up 9.4% on a year-over-year basis. research analysts expect that Consolidated Edison, Inc. will post 4.27 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Wednesday, February 14th will be paid a $0.715 dividend. This represents a $2.86 annualized dividend and a dividend yield of 3.68%. The ex-dividend date of this dividend is Tuesday, February 13th. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.69. Consolidated Edison’s dividend payout ratio is 57.89%.

ED has been the topic of several research analyst reports. Zacks Investment Research upgraded shares of Consolidated Edison from a “hold” rating to a “buy” rating and set a $94.00 target price on the stock in a research note on Wednesday, January 3rd. ValuEngine upgraded shares of Consolidated Edison from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Bank of America initiated coverage on shares of Consolidated Edison in a research note on Tuesday, October 24th. They set a “buy” rating and a $92.00 target price on the stock. Guggenheim restated a “hold” rating and set a $88.00 target price on shares of Consolidated Edison in a research note on Wednesday, January 3rd. Finally, UBS Group initiated coverage on shares of Consolidated Edison in a research note on Friday, February 2nd. They set a “neutral” rating and a $80.00 target price on the stock. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $81.32.

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Consolidated Edison Profile

Consolidated Edison, Inc (Con Edison) is a holding company. The Company operates through its subsidiaries, which include Consolidated Edison Company of New York, Inc (CECONY), Orange and Rockland Utilities, Inc (O&R), Con Edison Clean Energy Businesses, Inc (the Clean Energy Businesses) and Con Edison Transmission, Inc (Con Edison Transmission).

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Institutional Ownership by Quarter for Consolidated Edison (NYSE:ED)

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