Catalyst Funds Management Pty Ltd Has $1.09 Million Holdings in Consolidated Edison, Inc. (NYSE:ED)

Catalyst Funds Management Pty Ltd lifted its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 34.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,200 shares of the utilities provider’s stock after buying an additional 3,100 shares during the period. Catalyst Funds Management Pty Ltd’s holdings in Consolidated Edison were worth $1,089,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of ED. Point72 Asset Management L.P. increased its holdings in shares of Consolidated Edison by 1,766.0% during the third quarter. Point72 Asset Management L.P. now owns 988,961 shares of the utilities provider’s stock worth $102,980,000 after buying an additional 935,962 shares in the last quarter. Burkehill Global Management LP bought a new stake in shares of Consolidated Edison in the fourth quarter worth $53,538,000. FMR LLC grew its stake in shares of Consolidated Edison by 82.3% in the third quarter. FMR LLC now owns 1,268,424 shares of the utilities provider’s stock worth $132,081,000 after purchasing an additional 572,530 shares during the last quarter. National Bank of Canada FI grew its stake in shares of Consolidated Edison by 350.6% in the third quarter. National Bank of Canada FI now owns 620,705 shares of the utilities provider’s stock worth $64,634,000 after purchasing an additional 482,953 shares during the last quarter. Finally, Jupiter Asset Management Ltd. bought a new stake in shares of Consolidated Edison in the fourth quarter worth $42,916,000. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ED has been the topic of several analyst reports. Scotiabank boosted their price objective on shares of Consolidated Edison from $100.00 to $101.00 and gave the stock a “sector perform” rating in a research note on Monday, February 24th. Barclays boosted their price objective on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock an “underweight” rating in a research note on Monday, February 24th. Evercore ISI cut shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 21st. Morgan Stanley reduced their price objective on shares of Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating on the stock in a research note on Friday, November 22nd. Finally, Mizuho upped their price target on shares of Consolidated Edison from $92.00 to $95.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $101.50.

Consolidated Edison Price Performance

ED stock opened at $106.60 on Friday. The stock has a market capitalization of $36.97 billion, a PE ratio of 20.34, a price-to-earnings-growth ratio of 3.05 and a beta of 0.30. The company’s 50-day moving average is $95.96 and its 200-day moving average is $98.19. 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 1 year low of $87.16 and a 1 year high of $107.97.

Consolidated Edison (NYSE:ED) last released its quarterly earnings data on Thursday, February 20th. The utilities provider reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.01. The company had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.63 billion. Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. Equities research analysts expect that Consolidated Edison, Inc. will post 5.62 EPS for the current fiscal year.

Consolidated Edison Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Wednesday, February 19th were given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date was Wednesday, February 19th. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.83. Consolidated Edison’s dividend payout ratio is 64.89%.

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.