Sherbrooke Park Advisers LLC Has $2.08 Million Stock Position in Consolidated Edison, Inc. (NYSE:ED)

Sherbrooke Park Advisers LLC lifted its holdings in Consolidated Edison, Inc. (NYSE:ED - Free Report) by 76.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 23,336 shares of the utilities provider's stock after purchasing an additional 10,133 shares during the quarter. Consolidated Edison comprises 0.7% of Sherbrooke Park Advisers LLC's holdings, making the stock its biggest position. Sherbrooke Park Advisers LLC's holdings in Consolidated Edison were worth $2,082,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Consolidated Edison by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 42,455,662 shares of the utilities provider's stock valued at $3,788,319,000 after purchasing an additional 488,752 shares during the period. Geode Capital Management LLC boosted its position in Consolidated Edison by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 8,984,022 shares of the utilities provider's stock worth $799,684,000 after acquiring an additional 130,234 shares during the last quarter. Norges Bank acquired a new position in Consolidated Edison during the 4th quarter worth approximately $399,824,000. Northern Trust Corp boosted its position 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 worth $375,458,000 after acquiring an additional 390,708 shares during the last quarter. Finally, Invesco Ltd. raised its stake in shares of Consolidated Edison by 27.9% during the 4th quarter. Invesco Ltd. now owns 3,721,730 shares of the utilities provider's stock worth $332,090,000 after purchasing an additional 812,885 shares in the last quarter. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Consolidated Edison Price Performance

Shares of ED traded up $1.04 during trading hours on Monday, hitting $105.33. 2,047,833 shares of the company were exchanged, compared to its average volume of 2,281,361. The firm's fifty day moving average is $108.45 and its 200 day moving average is $99.80. The company has a market cap of $37.95 billion, a price-to-earnings ratio of 20.10, a P/E/G ratio of 3.05 and a beta of 0.29. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07. Consolidated Edison, Inc. has a fifty-two week low of $87.28 and a fifty-two week high of $114.87.

Consolidated Edison (NYSE:ED - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The utilities provider reported $2.25 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.05). The business had revenue of $4.80 billion during the quarter, compared to analyst estimates of $4.21 billion. Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. During the same period last year, the business earned $2.15 earnings per share. On average, equities analysts anticipate that Consolidated Edison, Inc. will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Wednesday, May 14th will be given a $0.85 dividend. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $3.40 annualized dividend and a yield of 3.23%. Consolidated Edison's dividend payout ratio is presently 62.85%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Wells Fargo & Company upped their price objective on Consolidated Edison from $103.00 to $114.00 and gave the stock an "equal weight" rating in a research note on Friday, May 2nd. Scotiabank increased their price target on Consolidated Edison from $100.00 to $101.00 and gave the company a "sector perform" rating in a research note on Monday, February 24th. Morgan Stanley set a $94.00 price target on Consolidated Edison and gave the company an "overweight" rating in a research note on Wednesday, April 23rd. Barclays increased their price target on Consolidated Edison from $100.00 to $101.00 and gave the company an "underweight" rating in a research note on Monday, May 5th. Finally, 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. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $104.36.

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.