Penserra Capital Management LLC Increases Position in Consolidated Edison Inc (NYSE:ED)

Penserra Capital Management LLC grew its position in shares of Consolidated Edison Inc (NYSE:ED - Free Report) by 898.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,058 shares of the utilities provider's stock after buying an additional 8,151 shares during the quarter. Penserra Capital Management LLC's holdings in Consolidated Edison were worth $1,001,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of ED. Vanguard Group Inc. raised its holdings in Consolidated Edison by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 42,455,662 shares of the utilities provider's stock worth $3,788,319,000 after purchasing an additional 488,752 shares during the period. Geode Capital Management LLC raised its holdings in Consolidated Edison by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 8,984,022 shares of the utilities provider's stock worth $799,684,000 after purchasing an additional 130,234 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Consolidated Edison by 6.0% in the 4th 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 worth $430,129,000 after purchasing an additional 271,088 shares during the period. Norges Bank bought a new position in Consolidated Edison in the 4th quarter worth $399,824,000. Finally, Northern Trust Corp raised its holdings in Consolidated Edison by 10.2% in the 4th quarter. Northern Trust Corp now owns 4,207,753 shares of the utilities provider's stock worth $375,458,000 after purchasing an additional 390,708 shares during the period. 66.29% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ED has been the topic of a number of recent analyst reports. UBS Group raised their price target on Consolidated Edison from $110.00 to $113.00 and gave the company a "neutral" rating in a report on Friday, March 21st. Guggenheim raised their price target on Consolidated Edison from $96.00 to $103.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. KeyCorp cut Consolidated Edison from a "sector weight" rating to an "underweight" rating and set a $90.00 price target on the stock. in a report on Wednesday, May 14th. Citigroup raised their price target on Consolidated Edison from $116.00 to $120.00 and gave the company a "buy" rating in a report on Wednesday, April 9th. Finally, Wells Fargo & Company raised their price target on Consolidated Edison from $103.00 to $114.00 and gave the company an "equal weight" rating in a report on Friday, May 2nd. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, Consolidated Edison has a consensus rating of "Hold" and a consensus price target of $105.27.

Consolidated Edison Price Performance

Shares of ED stock traded down $0.48 during trading hours on Friday, hitting $100.59. The stock had a trading volume of 1,853,686 shares, compared to its average volume of 2,407,192. The stock has a market capitalization of $36.24 billion, a price-to-earnings ratio of 18.59, a PEG ratio of 3.23 and a beta of 0.26. Consolidated Edison Inc has a one year low of $87.28 and a one year high of $114.87. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.28 and a quick ratio of 1.19. The stock's 50-day moving average price is $102.54 and its two-hundred day moving average price is $101.33.

Consolidated Edison (NYSE:ED - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The utilities provider reported $2.25 EPS for the quarter, missing the consensus estimate 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 return on equity of 8.61% and a net margin of 11.98%. During the same quarter in the prior year, the business posted $2.15 EPS. Equities analysts forecast that Consolidated Edison Inc will post 5.62 EPS for the current year.

Consolidated Edison Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Wednesday, May 14th were given a $0.85 dividend. The ex-dividend date was Wednesday, May 14th. This represents a $3.40 annualized dividend and a yield of 3.38%. Consolidated Edison's dividend payout ratio is currently 62.85%.

Consolidated Edison Company 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.