Nuveen Asset Management LLC Reduces Stock Position in Consolidated Edison, Inc. (NYSE:ED)

Nuveen Asset Management LLC cut its stake in shares of Consolidated Edison, Inc. (NYSE:ED - Free Report) by 10.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,992,804 shares of the utilities provider's stock after selling 222,765 shares during the period. Nuveen Asset Management LLC owned 0.58% of Consolidated Edison worth $177,818,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of ED. Jacobi Capital Management LLC raised its position in Consolidated Edison by 4.2% during the fourth quarter. Jacobi Capital Management LLC now owns 2,569 shares of the utilities provider's stock valued at $229,000 after purchasing an additional 104 shares during the period. Richwood Investment Advisors LLC increased its position in shares of Consolidated Edison by 2.3% during the 4th quarter. Richwood Investment Advisors LLC now owns 5,194 shares of the utilities provider's stock valued at $463,000 after purchasing an additional 115 shares during the last quarter. Penobscot Investment Management Company Inc. raised its holdings in Consolidated Edison by 5.7% during the 4th quarter. Penobscot Investment Management Company Inc. now owns 2,300 shares of the utilities provider's stock valued at $205,000 after buying an additional 125 shares during the period. Trust Point Inc. lifted its position in Consolidated Edison by 4.9% in the fourth quarter. Trust Point Inc. now owns 2,790 shares of the utilities provider's stock worth $249,000 after buying an additional 131 shares during the last quarter. Finally, Haverford Trust Co boosted its stake in Consolidated Edison by 3.7% during the fourth quarter. Haverford Trust Co now owns 3,709 shares of the utilities provider's stock worth $331,000 after buying an additional 132 shares during the period. Institutional investors and hedge funds own 66.29% of the company's stock.

Consolidated Edison Price Performance

NYSE ED traded up $1.04 on Monday, hitting $105.33. The company had a trading volume of 2,047,833 shares, compared to its average volume of 2,281,361. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93. The company has a market capitalization of $37.95 billion, a PE ratio of 20.10, a PEG ratio of 3.05 and a beta of 0.29. Consolidated Edison, Inc. has a 12-month low of $87.28 and a 12-month high of $114.87. The company's fifty day moving average price is $108.45 and its 200-day moving average price is $99.80.

Consolidated Edison (NYSE:ED - Get Free Report) last posted 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 return on equity of 8.62% and a net margin of 11.93%. The firm had revenue of $4.80 billion during the quarter, compared to analyst estimates of $4.21 billion. During the same quarter in the previous year, the firm posted $2.15 earnings per share. As a group, analysts predict that Consolidated Edison, Inc. will post 5.62 earnings per share for the current year.

Consolidated Edison Announces Dividend

The company 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. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $3.40 annualized dividend and a dividend yield of 3.23%. Consolidated Edison's dividend payout ratio (DPR) is 62.85%.

Wall Street Analysts Forecast Growth

ED has been the subject of a number of research analyst reports. Citigroup lifted their price objective on shares of Consolidated Edison from $116.00 to $120.00 and gave the company a "buy" rating in a report on Wednesday, April 9th. Mizuho increased their target price on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock a "neutral" rating in a report on Monday, February 3rd. Barclays boosted their price objective 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. Wells Fargo & Company increased their target price on Consolidated Edison from $103.00 to $114.00 and gave the company an "equal weight" rating in a research report on Friday, May 2nd. Finally, KeyCorp downgraded 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. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, three have issued 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 price target of $104.36.

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.