Asset Management One Co. Ltd. Buys 4,848 Shares of Consolidated Edison Inc (NYSE:ED)

Asset Management One Co. Ltd. lifted its stake in shares of Consolidated Edison Inc (NYSE:ED - Free Report) by 2.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 185,671 shares of the utilities provider's stock after acquiring an additional 4,848 shares during the quarter. Asset Management One Co. Ltd. owned about 0.05% of Consolidated Edison worth $20,533,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in ED. Revolve Wealth Partners LLC grew its position in Consolidated Edison by 13.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 3,721 shares of the utilities provider's stock worth $332,000 after buying an additional 441 shares during the last quarter. Wealthspire Advisors LLC grew its position in Consolidated Edison by 9.9% in the fourth quarter. Wealthspire Advisors LLC now owns 11,525 shares of the utilities provider's stock worth $1,028,000 after buying an additional 1,042 shares during the last quarter. Lake Street Advisors Group LLC grew its position in Consolidated Edison by 22.5% in the fourth quarter. Lake Street Advisors Group LLC now owns 5,002 shares of the utilities provider's stock worth $446,000 after buying an additional 920 shares during the last quarter. Checchi Capital Advisers LLC grew its position in Consolidated Edison by 3.7% in the fourth quarter. Checchi Capital Advisers LLC now owns 5,757 shares of the utilities provider's stock worth $514,000 after buying an additional 208 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. grew its position in Consolidated Edison by 1.7% in the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 134,600 shares of the utilities provider's stock worth $12,010,000 after buying an additional 2,200 shares during the last quarter. Institutional investors and hedge funds own 66.29% of the company's stock.

Wall Street Analyst Weigh In

ED has been the topic of several recent research reports. Barclays lifted their price target on shares of Consolidated Edison from $100.00 to $101.00 and gave the stock an "underweight" rating in a research report on Monday, May 5th. Morgan Stanley lowered their price objective on shares of Consolidated Edison from $93.00 to $92.00 and set an "underweight" rating on the stock in a research report on Wednesday, June 18th. KeyCorp cut shares of Consolidated Edison from a "sector weight" rating to an "underweight" rating and set a $90.00 price objective on the stock. in a research report on Wednesday, May 14th. Wells Fargo & Company lifted their price objective on shares of Consolidated Edison from $103.00 to $114.00 and gave the stock an "equal weight" rating in a research report on Friday, May 2nd. Finally, Guggenheim lifted their price objective on shares of Consolidated Edison from $96.00 to $103.00 and gave the stock a "neutral" rating in a research report on Friday, May 2nd. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $104.18.

Consolidated Edison Stock Down 0.3%

Shares of NYSE:ED traded down $0.28 during trading on Friday, reaching $98.13. 2,880,053 shares of the company traded hands, compared to its average volume of 2,371,951. The firm has a fifty day simple moving average of $104.85 and a 200 day simple moving average of $100.79. The firm has a market cap of $35.36 billion, a P/E ratio of 18.14, a price-to-earnings-growth ratio of 3.13 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. The company has a quick ratio of 1.19, a current ratio of 1.28 and a debt-to-equity ratio of 1.04.

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 (EPS) for the quarter, missing the consensus estimate of $2.30 by ($0.05). Consolidated Edison had a net margin of 11.98% and a return on equity of 8.61%. The business had revenue of $4.80 billion during the quarter, compared to analyst estimates of $4.21 billion. During the same period in the previous year, the firm posted $2.15 EPS. Analysts anticipate that Consolidated Edison Inc will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Wednesday, May 14th were given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date was Wednesday, May 14th. Consolidated Edison's dividend payout ratio is 62.85%.

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.