Dimensional Fund Advisors LP Grows Stock Position in Consolidated Edison, Inc. (NYSE:ED)

Dimensional Fund Advisors LP grew its position in shares of Consolidated Edison, Inc. (NYSE:ED - Free Report) by 3.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,314,463 shares of the utilities provider's stock after acquiring an additional 38,630 shares during the quarter. Dimensional Fund Advisors LP owned about 0.38% of Consolidated Edison worth $117,288,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. AlphaMark Advisors LLC purchased a new position in shares of Consolidated Edison in the 4th quarter worth approximately $27,000. OFI Invest Asset Management purchased a new position in Consolidated Edison during the fourth quarter worth $35,000. Fairway Wealth LLC bought a new position in Consolidated Edison during the fourth quarter valued at $36,000. Centricity Wealth Management LLC purchased a new stake in shares of Consolidated Edison in the fourth quarter valued at $39,000. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of Consolidated Edison in the 4th quarter worth about $44,000. Institutional investors own 66.29% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ED. Morgan Stanley set a $94.00 price objective on shares of Consolidated Edison and gave the stock an "overweight" rating in a research report on Wednesday, April 23rd. Scotiabank raised their price target on Consolidated Edison from $100.00 to $101.00 and gave the stock a "sector perform" rating in a research note on Monday, February 24th. Citigroup boosted their price objective on Consolidated Edison from $116.00 to $120.00 and gave the company a "buy" rating in a report on Wednesday, April 9th. Barclays increased their target price on Consolidated Edison from $95.00 to $100.00 and gave the stock an "underweight" rating in a research note on Tuesday, April 22nd. Finally, Mizuho upped their price target on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock a "neutral" rating in a report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $103.60.

Consolidated Edison Stock Down 2.4 %

Shares of NYSE ED traded down $2.70 during midday trading on Friday, reaching $109.86. 1,063,513 shares of the company's stock traded hands, compared to its average volume of 2,811,277. The company has a market cap of $39.57 billion, a price-to-earnings ratio of 20.97, a P/E/G ratio of 3.05 and a beta of 0.27. The stock's 50 day simple moving average is $107.62 and its 200-day simple moving average is $99.81. 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 one year low of $87.28 and a one year high of $114.87.

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

Consolidated Edison Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Wednesday, May 14th will be issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date is Wednesday, May 14th. Consolidated Edison's dividend payout ratio is currently 64.89%.

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.