Nomura Holdings Inc. Invests $1.02 Million in Consolidated Edison, Inc. (NYSE:ED)

Nomura Holdings Inc. purchased a new position in shares of Consolidated Edison, Inc. (NYSE:ED - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 11,411 shares of the utilities provider's stock, valued at approximately $1,018,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. AlphaMark Advisors LLC purchased a new stake in shares of Consolidated Edison during the 4th quarter worth about $27,000. OFI Invest Asset Management purchased a new stake in Consolidated Edison during the fourth quarter worth approximately $35,000. Fairway Wealth LLC purchased a new position in shares of Consolidated Edison in the 4th quarter valued at $36,000. Centricity Wealth Management LLC purchased a new position in shares of Consolidated Edison in the 4th quarter valued at $39,000. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Consolidated Edison during the 4th quarter valued at $44,000. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Consolidated Edison Stock Performance

Consolidated Edison stock traded down $1.89 during mid-day trading on Thursday, reaching $103.33. The company's stock had a trading volume of 2,266,052 shares, compared to its average volume of 2,289,981. Consolidated Edison, Inc. has a twelve month low of $87.28 and a twelve month high of $114.87. The business has a 50 day moving average price of $108.50 and a 200-day moving average price of $99.92. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.07. The firm has a market cap of $37.23 billion, a price-to-earnings ratio of 19.72, a PEG 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 analysts' consensus estimates 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 the consensus estimate of $4.21 billion. During the same quarter in the previous year, the business posted $2.15 earnings per share. Sell-side analysts predict that Consolidated Edison, Inc. will post 5.62 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Wednesday, May 14th will be paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date is Wednesday, May 14th. Consolidated Edison's dividend payout ratio is currently 62.85%.

Wall Street Analyst Weigh In

A number of research analysts have commented on ED shares. Barclays boosted their price objective on Consolidated Edison from $100.00 to $101.00 and gave the stock an "underweight" rating in a research note on Monday, May 5th. Wells Fargo & Company increased their price objective on shares of Consolidated Edison from $103.00 to $114.00 and gave the company an "equal weight" rating in a research report on Friday, May 2nd. Scotiabank upped their target price on shares of Consolidated Edison from $100.00 to $101.00 and gave the company a "sector perform" rating in a research note on Monday, February 24th. Morgan Stanley dropped their price target on shares of Consolidated Edison from $94.00 to $93.00 and set an "underweight" rating on the stock in a research note on Thursday. Finally, Citigroup upped their price objective on shares of Consolidated Edison from $116.00 to $120.00 and gave the company a "buy" rating in a research report on Wednesday, April 9th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $104.27.

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.