Intech Investment Management LLC Acquires 10,261 Shares of Consolidated Edison, Inc. (NYSE:ED)

Intech Investment Management LLC raised its holdings in shares of Consolidated Edison, Inc. (NYSE:ED) by 6.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 158,025 shares of the utilities provider’s stock after purchasing an additional 10,261 shares during the quarter. Intech Investment Management LLC’s holdings in Consolidated Edison were worth $14,131,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in ED. Beacon Capital Management LLC lifted its holdings in shares of Consolidated Edison by 2,307.7% in the 1st quarter. Beacon Capital Management LLC now owns 313 shares of the utilities provider’s stock valued at $28,000 after acquiring an additional 300 shares during the last quarter. Raleigh Capital Management Inc. purchased a new stake in Consolidated Edison during the fourth quarter valued at approximately $29,000. Tidemark LLC purchased a new position in Consolidated Edison during the fourth quarter worth $29,000. Pathway Financial Advisers LLC bought a new position in Consolidated Edison during the 1st quarter valued at about $33,000. Finally, TruNorth Capital Management LLC bought a new position in Consolidated Edison in the 2nd quarter valued at $33,000. 66.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on ED shares. Morgan Stanley upped their price target on shares of Consolidated Edison from $75.00 to $82.00 and gave the stock an “underweight” rating in a report on Friday, August 23rd. Scotiabank boosted their price objective on shares of Consolidated Edison from $85.00 to $90.00 and gave the stock a “sector underperform” rating in a research note on Tuesday, August 20th. Argus upgraded shares of Consolidated Edison to a “strong-buy” rating in a research note on Friday, June 7th. Mizuho increased their price objective on shares of Consolidated Edison from $93.00 to $95.00 and gave the company a “neutral” rating in a research report on Tuesday, May 28th. Finally, Bank of America raised their target price on Consolidated Edison from $97.00 to $109.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $92.65.

Consolidated Edison Price Performance

Consolidated Edison stock opened at $102.12 on Friday. The firm’s 50-day moving average is $99.86 and its two-hundred day moving average is $94.52. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.04 and a quick ratio of 0.97. The stock has a market capitalization of $35.32 billion, a P/E ratio of 19.60, a P/E/G ratio of 3.50 and a beta of 0.36. Consolidated Edison, Inc. has a 12-month low of $80.46 and a 12-month high of $105.99.

Consolidated Edison (NYSE:ED) last issued its earnings results on Thursday, August 1st. The utilities provider reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02. Consolidated Edison had a return on equity of 8.67% and a net margin of 12.03%. The firm had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $3.08 billion. During the same quarter last year, the firm earned $0.61 earnings per share. Equities analysts predict that Consolidated Edison, Inc. will post 5.31 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Wednesday, August 14th were paid a $0.83 dividend. The ex-dividend date was Wednesday, August 14th. This represents a $3.32 dividend on an annualized basis and a yield of 3.25%. Consolidated Edison’s dividend payout ratio (DPR) is 63.72%.

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.