Allspring Global Investments Holdings LLC Has $27.26 Million Stock Position in Consolidated Edison, Inc. (NYSE:ED)

Allspring Global Investments Holdings LLC boosted its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 44.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 306,197 shares of the utilities provider’s stock after buying an additional 93,956 shares during the period. Allspring Global Investments Holdings LLC owned about 0.09% of Consolidated Edison worth $27,261,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in ED. Capital Performance Advisors LLP purchased a new position in shares of Consolidated Edison during the third quarter valued at $27,000. AlphaMark Advisors LLC purchased a new position in Consolidated Edison during the 4th quarter valued at about $27,000. Ashton Thomas Securities LLC acquired a new position in shares of Consolidated Edison in the 3rd quarter valued at about $30,000. CGC Financial Services LLC lifted its position in shares of Consolidated Edison by 64.0% in the fourth quarter. CGC Financial Services LLC now owns 546 shares of the utilities provider’s stock worth $49,000 after purchasing an additional 213 shares in the last quarter. Finally, FSA Wealth Management LLC acquired a new stake in shares of Consolidated Edison during the third quarter worth approximately $55,000. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Consolidated Edison Stock Down 0.7 %

Consolidated Edison stock opened at $95.01 on Friday. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93. Consolidated Edison, Inc. has a fifty-two week low of $85.85 and a fifty-two week high of $107.75. The firm has a fifty day moving average price of $91.84 and a two-hundred day moving average price of $98.13. The firm has a market cap of $32.91 billion, a price-to-earnings ratio of 17.89, a P/E/G ratio of 3.04 and a beta of 0.39.

Consolidated Edison Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Wednesday, February 19th will be paid a dividend of $0.85 per share. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend is Wednesday, February 19th. This represents a $3.40 annualized dividend and a yield of 3.58%. Consolidated Edison’s dividend payout ratio is presently 62.52%.

Analyst Ratings Changes

Several research analysts have weighed in on ED shares. Barclays dropped their price objective on shares of Consolidated Edison from $99.00 to $92.00 and set an “underweight” rating on the stock in a research note on Monday, January 27th. Evercore ISI lowered Consolidated Edison from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 21st. Mizuho boosted their target price on Consolidated Edison from $92.00 to $95.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Morgan Stanley reduced their price target on Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating for the company in a report on Friday, November 22nd. Finally, Scotiabank upgraded Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and increased their price objective for the stock from $90.00 to $100.00 in a report on Thursday, December 12th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $100.00.

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.