Consolidated Edison Inc (NYSE:ED) Stock Position Increased by Cetera Investment Advisers

Cetera Investment Advisers raised its holdings in Consolidated Edison Inc (NYSE:ED - Free Report) by 6.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 93,556 shares of the utilities provider's stock after purchasing an additional 5,281 shares during the quarter. Cetera Investment Advisers' holdings in Consolidated Edison were worth $10,346,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Geode Capital Management LLC boosted its holdings in shares of Consolidated Edison by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 8,984,022 shares of the utilities provider's stock valued at $799,684,000 after acquiring an additional 130,234 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Consolidated Edison by 6.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,820,449 shares of the utilities provider's stock valued at $430,129,000 after purchasing an additional 271,088 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Consolidated Edison by 10.2% in the fourth quarter. Northern Trust Corp now owns 4,207,753 shares of the utilities provider's stock valued at $375,458,000 after purchasing an additional 390,708 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Consolidated Edison by 27.9% in the fourth quarter. Invesco Ltd. now owns 3,721,730 shares of the utilities provider's stock valued at $332,090,000 after purchasing an additional 812,885 shares in the last quarter. Finally, Deutsche Bank AG lifted its holdings in shares of Consolidated Edison by 22.1% in the fourth quarter. Deutsche Bank AG now owns 1,702,855 shares of the utilities provider's stock valued at $151,946,000 after purchasing an additional 308,683 shares in the last quarter. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on ED shares. Guggenheim boosted their price objective on shares of Consolidated Edison from $96.00 to $103.00 and gave the company a "neutral" rating in a research report on Friday, May 2nd. KeyCorp reissued an "overweight" rating on shares of Consolidated Edison in a research report on Wednesday, July 16th. Citigroup upped their price target on shares of Consolidated Edison from $116.00 to $120.00 and gave the stock a "buy" rating in a research report on Wednesday, April 9th. Morgan Stanley dropped their price target on shares of Consolidated Edison from $93.00 to $92.00 and set an "underweight" rating for the company in a research report on Wednesday, June 18th. Finally, Wells Fargo & Company upped their price target 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. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $105.09.

Consolidated Edison Stock Up 0.9%

NYSE ED traded up $0.91 during trading hours on Friday, reaching $104.41. 2,272,574 shares of the company traded hands, compared to its average volume of 1,936,933. The stock has a market capitalization of $37.62 billion, a PE ratio of 19.30, a PEG ratio of 3.30 and a beta of 0.24. Consolidated Edison Inc has a 12 month low of $87.28 and a 12 month high of $114.87. The company has a 50 day moving average of $101.54 and a two-hundred day moving average of $102.57. The company has a current ratio of 1.28, a quick ratio of 1.19 and a debt-to-equity ratio of 1.04.

Consolidated Edison (NYSE:ED - Get Free Report) last issued its earnings results on Thursday, May 1st. The utilities provider reported $2.25 earnings per share for the quarter, missing analysts' consensus estimates of $2.30 by ($0.05). The business had revenue of $4.80 billion for the quarter, compared to analyst estimates of $4.21 billion. Consolidated Edison had a return on equity of 8.61% and a net margin of 11.98%. During the same period last year, the company posted $2.15 earnings per share. As a group, equities analysts expect that Consolidated Edison Inc will post 5.62 earnings per share for the current year.

Consolidated Edison Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Wednesday, August 13th will be issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend is Wednesday, August 13th. 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.