Mufg Securities Americas Inc. Takes $456,000 Position in Consolidated Edison, Inc. (NYSE:ED)

Mufg Securities Americas Inc. bought a new position in shares of Consolidated Edison, Inc. (NYSE:ED - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 5,114 shares of the utilities provider's stock, valued at approximately $456,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. AlphaMark Advisors LLC acquired a new stake in Consolidated Edison in the fourth quarter valued at $27,000. Fairway Wealth LLC bought a new stake in shares of Consolidated Edison during the 4th quarter valued at approximately $36,000. OFI Invest Asset Management acquired a new stake in Consolidated Edison during the 4th quarter worth approximately $35,000. Centricity Wealth Management LLC acquired a new position in shares of Consolidated Edison in the 4th quarter worth approximately $39,000. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of Consolidated Edison in the 4th quarter valued at $44,000. Institutional investors own 66.29% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on ED shares. Barclays upped their target price on shares of Consolidated Edison from $100.00 to $101.00 and gave the stock an "underweight" rating in a research note on Monday, May 5th. Mizuho increased their price target on shares of Consolidated Edison from $92.00 to $95.00 and gave the company a "neutral" rating in a research report on Monday, February 3rd. Scotiabank boosted their price objective on shares of Consolidated Edison from $100.00 to $101.00 and gave the company a "sector perform" rating in a research report on Monday, February 24th. Evercore ISI downgraded shares of Consolidated Edison from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, January 21st. Finally, Morgan Stanley set a $94.00 price target on shares of Consolidated Edison and gave the stock an "overweight" rating in a research note on Wednesday, April 23rd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $104.36.

Consolidated Edison Stock Up 1.0%

Shares of Consolidated Edison stock traded up $1.04 during midday trading on Monday, hitting $105.33. The company's stock had a trading volume of 2,047,833 shares, compared to its average volume of 2,281,361. Consolidated Edison, Inc. has a 1-year low of $87.28 and a 1-year high of $114.87. The stock has a 50-day simple moving average of $108.45 and a 200-day simple moving average of $99.80. The firm has a market capitalization of $37.95 billion, a P/E ratio of 20.10, a PEG ratio of 3.05 and a beta of 0.29. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07.

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 analysts' consensus estimates of $2.30 by ($0.05). The business had revenue of $4.80 billion for the quarter, compared to the consensus estimate of $4.21 billion. Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. During the same quarter last year, the company earned $2.15 earnings per share. As a group, sell-side analysts expect that Consolidated Edison, Inc. will post 5.62 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Wednesday, May 14th will be issued a dividend of $0.85 per share. The ex-dividend date is Wednesday, May 14th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.23%. Consolidated Edison's dividend payout ratio (DPR) 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.