Annex Advisory Services LLC Purchases Shares of 1,818 Consolidated Edison, Inc. (NYSE:ED)

Annex Advisory Services LLC acquired a new position in shares of Consolidated Edison, Inc. (NYSE:ED) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 1,818 shares of the utilities provider’s stock, valued at approximately $201,000.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted 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 acquiring an additional 488,752 shares in the last quarter. Geode Capital Management LLC lifted its position 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 in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted 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 valued at $430,129,000 after purchasing an additional 271,088 shares during the period. Norges Bank purchased a new position in shares of Consolidated Edison in the fourth quarter valued at $399,824,000. Finally, Northern Trust Corp grew its holdings 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 valued at $375,458,000 after purchasing an additional 390,708 shares in the last quarter. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

Consolidated Edison Stock Down 0.7%

NYSE:ED opened at $101.57 on Friday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01. The company has a market capitalization of $36.59 billion, a price-to-earnings ratio of 19.38, a price-to-earnings-growth ratio of 3.05 and a beta of 0.27. Consolidated Edison, Inc. has a one year low of $87.28 and a one year high of $114.87. The stock has a 50-day simple moving average of $107.33 and a 200 day simple moving average of $100.39.

Consolidated Edison (NYSE:ED) last released its earnings results on Thursday, May 1st. The utilities provider reported $2.25 EPS 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 the consensus estimate of $4.21 billion. During the same period in the prior year, the business earned $2.15 EPS. Sell-side analysts predict that Consolidated Edison, Inc. will post 5.62 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Wednesday, May 14th will be issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date is Wednesday, May 14th. Consolidated Edison’s dividend payout ratio is presently 62.85%.

Analyst Upgrades and Downgrades

ED has been the topic of a number of recent analyst reports. Wells Fargo & Company boosted their price objective on shares of Consolidated Edison from $103.00 to $114.00 and gave the stock an “equal weight” rating in a report on Friday, May 2nd. Morgan Stanley lowered their target price on Consolidated Edison from $94.00 to $93.00 and set an “underweight” rating for the company in a research note on Thursday, May 22nd. UBS Group boosted their price target on Consolidated Edison from $110.00 to $113.00 and gave the stock a “neutral” rating in a research note on Friday, March 21st. Barclays increased their price target on Consolidated Edison from $100.00 to $101.00 and gave the company an “underweight” rating in a report on Monday, May 5th. Finally, Guggenheim raised their price objective on Consolidated Edison from $96.00 to $103.00 and gave the company a “neutral” rating in a research note on Friday, May 2nd. Three analysts have rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $104.27.

Consolidated Edison 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.