Glen Eagle Advisors LLC Purchases 111 Shares of Consolidated Edison, Inc. (NYSE:ED)

Glen Eagle Advisors LLC grew its position in shares of Consolidated Edison, Inc. (NYSE:ED) by 6.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,902 shares of the utilities provider’s stock after purchasing an additional 111 shares during the quarter. Glen Eagle Advisors LLC’s holdings in Consolidated Edison were worth $170,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in Consolidated Edison by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 42,455,662 shares of the utilities provider’s stock worth $3,788,319,000 after buying an additional 488,752 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Consolidated Edison by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 8,984,022 shares of the utilities provider’s stock worth $799,684,000 after purchasing an additional 130,234 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Consolidated Edison by 6.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,820,449 shares of the utilities provider’s stock worth $430,129,000 after purchasing an additional 271,088 shares during the last quarter. Norges Bank acquired a new stake in Consolidated Edison in the fourth quarter valued at $399,824,000. Finally, Northern Trust Corp raised its position in Consolidated Edison by 10.2% during the 4th quarter. Northern Trust Corp now owns 4,207,753 shares of the utilities provider’s stock worth $375,458,000 after purchasing an additional 390,708 shares during the last quarter. 66.29% of the stock is currently owned by institutional investors.

Consolidated Edison Price Performance

Shares of NYSE ED opened at $105.27 on Thursday. The firm has a market capitalization of $37.93 billion, a P/E ratio of 20.09, a P/E/G ratio of 3.05 and a beta of 0.29. The firm’s 50-day moving average price is $108.50 and its 200-day moving average price is $99.92. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.07. Consolidated Edison, Inc. has a 1-year low of $87.28 and a 1-year high of $114.87.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings results on Thursday, May 1st. The utilities provider reported $2.25 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.05). Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. The firm had revenue of $4.80 billion for the quarter, compared to analyst estimates of $4.21 billion. During the same period last year, the company posted $2.15 earnings per share. Equities research analysts anticipate that Consolidated Edison, Inc. will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Wednesday, May 14th will be given a $0.85 dividend. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $3.40 annualized dividend and a yield of 3.23%. Consolidated Edison’s payout ratio is 62.85%.

Analyst Ratings Changes

A number of equities analysts recently commented on ED shares. Wells Fargo & Company lifted their price objective on Consolidated Edison from $103.00 to $114.00 and gave the stock an “equal weight” rating in a research note on Friday, May 2nd. Citigroup increased their price objective on shares of Consolidated Edison from $116.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, April 9th. Morgan Stanley set a $94.00 target price on shares of Consolidated Edison and gave the company an “overweight” rating in a report on Wednesday, April 23rd. KeyCorp cut shares of Consolidated Edison from a “sector weight” rating to an “underweight” rating and set a $90.00 price target on the stock. in a research report on Wednesday, May 14th. Finally, Mizuho lifted their price objective on Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Consolidated Edison has an average rating of “Hold” and an average target price of $104.36.

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.