Consolidated Edison, Inc. (NYSE:ED) Shares Bought by Bryn Mawr Capital Management LLC

Bryn Mawr Capital Management LLC increased its holdings in Consolidated Edison, Inc. (NYSE:ED) by 1,676.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,584 shares of the utilities provider’s stock after purchasing an additional 55,286 shares during the quarter. Bryn Mawr Capital Management LLC’s holdings in Consolidated Edison were worth $5,227,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Point72 Asset Management L.P. increased its holdings in shares of Consolidated Edison by 1,766.0% in the third quarter. Point72 Asset Management L.P. now owns 988,961 shares of the utilities provider’s stock valued at $102,980,000 after buying an additional 935,962 shares in the last quarter. FMR LLC raised its position in shares of 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 purchasing an additional 572,530 shares during the period. International Assets Investment Management LLC lifted its holdings in shares of Consolidated Edison by 10,262.1% during the third quarter. International Assets Investment Management LLC now owns 553,546 shares of the utilities provider’s stock valued at $57,641,000 after purchasing an additional 548,204 shares during the last quarter. National Bank of Canada FI boosted its position in shares of Consolidated Edison by 350.6% in the 3rd quarter. National Bank of Canada FI now owns 620,705 shares of the utilities provider’s stock valued at $64,634,000 after purchasing an additional 482,953 shares during the period. Finally, State Street Corp boosted its position in shares of Consolidated Edison by 1.7% in the 3rd quarter. State Street Corp now owns 23,429,218 shares of the utilities provider’s stock valued at $2,439,684,000 after purchasing an additional 399,034 shares during the period. 66.29% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on ED shares. Barclays reduced their price objective on shares of Consolidated Edison from $99.00 to $92.00 and set an “underweight” rating for the company in a research note on Monday, January 27th. Mizuho upped their price target on shares of Consolidated Edison from $92.00 to $95.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Scotiabank raised shares of Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and boosted their target price for the company from $90.00 to $100.00 in a research note on Thursday, December 12th. Morgan Stanley decreased their target price on Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating for the company in a research report on Friday, November 22nd. Finally, Evercore ISI lowered Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 21st. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $100.70.

Consolidated Edison Stock Performance

Shares of NYSE ED opened at $95.17 on Thursday. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93. Consolidated Edison, Inc. has a one year low of $85.85 and a one year high of $107.75. The business’s 50-day moving average price is $91.91 and its two-hundred day moving average price is $98.03. The company has a market capitalization of $32.97 billion, a P/E ratio of 17.92, a price-to-earnings-growth ratio of 3.02 and a beta of 0.39.

Consolidated Edison Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Wednesday, February 19th will be paid a $0.85 dividend. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.83. The ex-dividend date is Wednesday, February 19th. This represents a $3.40 annualized dividend and a dividend yield of 3.57%. Consolidated Edison’s payout ratio is presently 62.52%.

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.