New York Life Investment Management LLC Has $4.88 Million Stake in Consolidated Edison, Inc. (NYSE:ED)

New York Life Investment Management LLC raised its holdings in Consolidated Edison, Inc. (NYSE:ED) by 0.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 53,661 shares of the utilities provider’s stock after purchasing an additional 282 shares during the quarter. New York Life Investment Management LLC’s holdings in Consolidated Edison were worth $4,882,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of ED. Financial Gravity Asset Management Inc. increased its stake in shares of Consolidated Edison by 215.6% in the third quarter. Financial Gravity Asset Management Inc. now owns 284 shares of the utilities provider’s stock valued at $25,000 after buying an additional 194 shares in the last quarter. Turtle Creek Wealth Advisors LLC bought a new position in Consolidated Edison in the 4th quarter worth approximately $29,000. Bruce G. Allen Investments LLC acquired a new position in shares of Consolidated Edison during the fourth quarter valued at $31,000. CVA Family Office LLC acquired a new position in Consolidated Edison during the 4th quarter valued at about $32,000. Finally, Venturi Wealth Management LLC boosted its stake in Consolidated Edison by 62.2% in the third quarter. Venturi Wealth Management LLC now owns 477 shares of the utilities provider’s stock valued at $41,000 after acquiring an additional 183 shares during the last quarter. Institutional investors and hedge funds own 66.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on ED shares. Wells Fargo & Company boosted their target price on Consolidated Edison from $93.00 to $97.00 and gave the stock an “equal weight” rating in a research report on Friday. UBS Group reduced their target price on Consolidated Edison from $99.00 to $94.00 and set a “neutral” rating on the stock in a report on Friday, February 16th. Royal Bank of Canada lowered their target price on Consolidated Edison from $94.00 to $93.00 and set a “sector perform” rating for the company in a research note on Friday, February 16th. Scotiabank reduced their price target on shares of Consolidated Edison from $91.00 to $85.00 and set a “sector underperform” rating for the company in a report on Monday, April 22nd. Finally, Barclays boosted their price objective on shares of Consolidated Edison from $86.00 to $87.00 and gave the company an “equal weight” rating in a research report on Thursday, March 14th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Consolidated Edison has a consensus rating of “Hold” and an average price target of $87.75.

Consolidated Edison Stock Up 0.3 %

Consolidated Edison stock opened at $95.56 on Friday. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.01 and a quick ratio of 0.94. The company’s 50-day moving average is $90.06 and its 200-day moving average is $90.08. The firm has a market capitalization of $33.02 billion, a PE ratio of 18.34, a P/E/G ratio of 8.97 and a beta of 0.34. Consolidated Edison, Inc. has a fifty-two week low of $80.46 and a fifty-two week high of $100.44.

Consolidated Edison (NYSE:ED) last released its quarterly earnings data on Thursday, May 2nd. The utilities provider reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.26. Consolidated Edison had a return on equity of 8.86% and a net margin of 12.43%. The firm had revenue of $4.28 billion for the quarter, compared to analyst estimates of $4.40 billion. During the same quarter in the prior year, the company earned $1.83 earnings per share. The business’s revenue for the quarter was down 2.8% compared to the same quarter last year. Sell-side analysts anticipate that Consolidated Edison, Inc. will post 5.31 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Wednesday, May 15th will be given a dividend of $0.83 per share. The ex-dividend date is Tuesday, May 14th. This represents a $3.32 dividend on an annualized basis and a yield of 3.47%. Consolidated Edison’s dividend payout ratio (DPR) is 63.72%.

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.