Consolidated Edison, Inc. (NYSE:ED) Shares Bought by Intech Investment Management LLC

Intech Investment Management LLC lifted its stake in Consolidated Edison, Inc. (NYSE:ED) by 35.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 203,633 shares of the utilities provider’s stock after acquiring an additional 53,425 shares during the period. Intech Investment Management LLC owned 0.06% of Consolidated Edison worth $18,170,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in ED. AlphaMark Advisors LLC acquired a new stake in Consolidated Edison during the fourth quarter valued at approximately $27,000. OFI Invest Asset Management acquired a new stake in Consolidated Edison during the fourth quarter valued at approximately $35,000. Fairway Wealth LLC acquired a new stake in Consolidated Edison during the fourth quarter valued at approximately $36,000. Centricity Wealth Management LLC acquired a new stake in Consolidated Edison during the fourth quarter valued at approximately $39,000. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new stake in Consolidated Edison during the fourth quarter valued at approximately $44,000. 66.29% of the stock is owned by institutional investors and hedge funds.

Consolidated Edison Price Performance

NYSE ED opened at $107.74 on Tuesday. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.07. The company has a fifty day simple moving average of $96.35 and a 200 day simple moving average of $98.21. The company has a market cap of $37.36 billion, a P/E ratio of 20.56, a P/E/G ratio of 3.05 and a beta of 0.30. Consolidated Edison, Inc. has a 1 year low of $87.16 and a 1 year high of $110.01.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Thursday, February 20th. The utilities provider reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.01. The firm had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.63 billion. Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. On average, sell-side analysts predict that Consolidated Edison, Inc. will post 5.62 EPS for the current year.

Consolidated Edison Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th were given a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 3.16%. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend was Wednesday, February 19th. Consolidated Edison’s dividend payout ratio (DPR) is currently 64.89%.

Analysts Set New Price Targets

ED has been the topic of a number of recent analyst reports. Morgan Stanley cut their price target on shares of Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating on the stock in a report on Friday, November 22nd. UBS Group boosted their price target on shares of Consolidated Edison from $105.00 to $110.00 and gave the company a “neutral” rating in a report on Tuesday, February 25th. Barclays boosted their price target on shares of Consolidated Edison from $92.00 to $95.00 and gave the company an “underweight” rating in a report on Monday, February 24th. Scotiabank boosted their price target on shares of Consolidated Edison from $100.00 to $101.00 and gave the company a “sector perform” rating in a report on Monday, February 24th. Finally, Mizuho upped their price objective on shares of Consolidated Edison from $92.00 to $95.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $101.50.

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.