Ensign Peak Advisors Inc Raises Holdings in Consolidated Edison, Inc. (NYSE:ED)

Ensign Peak Advisors Inc increased its stake in Consolidated Edison, Inc. (NYSE:ED - Free Report) by 8.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 61,405 shares of the utilities provider's stock after buying an additional 4,742 shares during the quarter. Ensign Peak Advisors Inc's holdings in Consolidated Edison were worth $5,479,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Norges Bank bought a new stake in shares of Consolidated Edison during the fourth quarter worth $399,824,000. ExodusPoint Capital Management LP lifted its position in shares of Consolidated Edison by 412.0% during the fourth quarter. ExodusPoint Capital Management LP now owns 1,093,402 shares of the utilities provider's stock worth $97,564,000 after purchasing an additional 879,866 shares during the last quarter. Invesco Ltd. lifted its position in shares of Consolidated Edison by 27.9% during the fourth 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 during the last quarter. Marshall Wace LLP lifted its position in shares of Consolidated Edison by 232.3% during the fourth quarter. Marshall Wace LLP now owns 1,053,339 shares of the utilities provider's stock worth $93,989,000 after purchasing an additional 736,348 shares during the last quarter. Finally, Burkehill Global Management LP bought a new stake in shares of Consolidated Edison during the fourth quarter worth $53,538,000. 66.29% of the stock is currently owned by institutional investors.

Consolidated Edison Stock Up 2.2%

ED traded up $2.30 on Friday, hitting $104.31. The company had a trading volume of 2,758,878 shares, compared to its average volume of 2,279,452. The stock has a fifty day moving average price of $108.45 and a 200-day moving average price of $99.84. Consolidated Edison, Inc. has a 12-month low of $87.28 and a 12-month high of $114.87. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01. The stock has a market capitalization of $37.58 billion, a price-to-earnings ratio of 19.91, a P/E/G ratio of 3.05 and a beta of 0.29.

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

Consolidated Edison Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Wednesday, May 14th will be paid 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 3.26%. Consolidated Edison's dividend payout ratio (DPR) is presently 62.85%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ED. Scotiabank lifted their target price on Consolidated Edison from $100.00 to $101.00 and gave the stock a "sector perform" rating in a research report on Monday, February 24th. Guggenheim lifted their target price on Consolidated Edison from $96.00 to $103.00 and gave the stock a "neutral" rating in a research report on Friday, May 2nd. Wells Fargo & Company lifted their target price on Consolidated Edison from $103.00 to $114.00 and gave the stock an "equal weight" rating in a research report on Friday, May 2nd. Evercore ISI downgraded Consolidated Edison from a "strong-buy" rating to a "hold" rating in a report on Tuesday, January 21st. Finally, Morgan Stanley set a $94.00 price objective on Consolidated Edison and gave the company an "overweight" rating in a report on Wednesday, April 23rd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently 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.