Aster Capital Management DIFC Ltd Has $322,000 Stock Holdings in Consolidated Edison, Inc. (NYSE:ED)

Aster Capital Management DIFC Ltd raised its position in shares of Consolidated Edison, Inc. (NYSE:ED) by 14.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,608 shares of the utilities provider’s stock after purchasing an additional 452 shares during the period. Aster Capital Management DIFC Ltd’s holdings in Consolidated Edison were worth $322,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Wilmington Savings Fund Society FSB bought a new stake in shares of Consolidated Edison during the 3rd quarter worth $776,000. JPMorgan Chase & Co. raised its stake in Consolidated Edison by 4.0% during the third quarter. JPMorgan Chase & Co. now owns 2,145,128 shares of the utilities provider’s stock worth $223,373,000 after acquiring an additional 82,985 shares in the last quarter. Hennessy Advisors Inc. raised its stake in Consolidated Edison by 2.8% during the fourth quarter. Hennessy Advisors Inc. now owns 143,136 shares of the utilities provider’s stock worth $12,772,000 after acquiring an additional 3,900 shares in the last quarter. Gateway Investment Advisers LLC lifted its holdings in shares of Consolidated Edison by 102.7% in the fourth quarter. Gateway Investment Advisers LLC now owns 430,279 shares of the utilities provider’s stock worth $38,394,000 after acquiring an additional 217,981 shares during the last quarter. Finally, Jones Financial Companies Lllp boosted its stake in shares of Consolidated Edison by 81.4% in the 4th quarter. Jones Financial Companies Lllp now owns 9,921 shares of the utilities provider’s stock valued at $885,000 after purchasing an additional 4,451 shares in the last quarter. 66.29% of the stock is currently owned by institutional investors.

Consolidated Edison Price Performance

Shares of ED opened at $109.53 on Monday. The business has a 50-day moving average of $101.43 and a 200-day moving average of $98.70. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93. The company has a market capitalization of $39.45 billion, a price-to-earnings ratio of 20.90, a price-to-earnings-growth ratio of 3.05 and a beta of 0.27. Consolidated Edison, Inc. has a 1 year low of $87.28 and a 1 year high of $114.87.

Consolidated Edison (NYSE:ED) last released its quarterly earnings results on Thursday, February 20th. The utilities provider reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.01. Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. The firm had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.63 billion. As a group, equities research analysts anticipate that Consolidated Edison, Inc. will post 5.62 earnings per share for the current year.

Consolidated Edison Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th were given a dividend of $0.85 per share. The ex-dividend date was Wednesday, February 19th. This represents a $3.40 dividend on an annualized basis and a yield of 3.10%. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.83. Consolidated Edison’s dividend payout ratio is 64.89%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Barclays increased their price objective on shares of Consolidated Edison from $92.00 to $95.00 and gave the company an “underweight” rating in a research note on Monday, February 24th. UBS Group increased their price target on Consolidated Edison from $110.00 to $113.00 and gave the company a “neutral” rating in a research note on Friday, March 21st. Mizuho boosted 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. Morgan Stanley increased their target price on Consolidated Edison from $85.00 to $91.00 and gave the company an “underweight” rating in a research report on Thursday, March 20th. Finally, Scotiabank boosted their price target on Consolidated Edison from $100.00 to $101.00 and gave the stock a “sector perform” rating in a report on Monday, February 24th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Consolidated Edison currently has an average rating of “Hold” and a consensus target price of $102.40.

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.