Schroder Investment Management Group Grows Position in Consolidated Edison, Inc. (NYSE:ED)

Schroder Investment Management Group increased its position in Consolidated Edison, Inc. (NYSE:ED) by 33.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 628,438 shares of the utilities provider’s stock after purchasing an additional 157,976 shares during the period. Schroder Investment Management Group’s holdings in Consolidated Edison were worth $56,032,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in ED. Norges Bank bought a new stake in shares of Consolidated Edison during the 4th quarter valued at $399,824,000. Point72 Asset Management L.P. lifted its position in Consolidated Edison by 1,766.0% during the 3rd quarter. Point72 Asset Management L.P. now owns 988,961 shares of the utilities provider’s stock valued at $102,980,000 after acquiring an additional 935,962 shares during the period. Burkehill Global Management LP bought a new stake in Consolidated Edison during the fourth quarter worth about $53,538,000. FMR LLC boosted its stake in Consolidated Edison by 82.3% during the third quarter. FMR LLC now owns 1,268,424 shares of the utilities provider’s stock worth $132,081,000 after acquiring an additional 572,530 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in Consolidated Edison by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 42,455,662 shares of the utilities provider’s stock worth $3,788,319,000 after purchasing an additional 488,752 shares during the period. Institutional investors own 66.29% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Mizuho lifted their target price on shares of Consolidated Edison from $92.00 to $95.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Morgan Stanley lifted their price objective on Consolidated Edison from $85.00 to $91.00 and gave the company an “underweight” rating in a research note on Thursday, March 20th. Scotiabank increased their target price on 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 lifted their price target on Consolidated Edison from $92.00 to $95.00 and gave the stock an “underweight” rating in a research report on Monday, February 24th. Finally, Evercore ISI downgraded shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 21st. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Consolidated Edison has a consensus rating of “Hold” and an average price target of $102.40.

Consolidated Edison Stock Performance

Shares of ED stock opened at $110.69 on Tuesday. The firm has a market capitalization of $38.38 billion, a PE ratio of 21.12, a P/E/G ratio of 3.05 and a beta of 0.30. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07. The company has a 50 day moving average price of $99.90 and a 200-day moving average price of $98.53. Consolidated Edison, Inc. has a 52 week low of $87.28 and a 52 week high of $111.14.

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

Consolidated Edison Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Wednesday, February 19th were paid a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 3.07%. The ex-dividend date of this dividend 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.