Allspring Global Investments Holdings LLC Has $19.63 Million Stock Holdings in Consolidated Edison, Inc. (NYSE:ED)

Allspring Global Investments Holdings LLC grew its holdings in shares of Consolidated Edison, Inc. (NYSE:ED - Free Report) by 15.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 215,756 shares of the utilities provider's stock after purchasing an additional 28,297 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.06% of Consolidated Edison worth $19,627,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Moneta Group Investment Advisors LLC raised its holdings in Consolidated Edison by 89,231.2% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 4,145,861 shares of the utilities provider's stock worth $395,142,000 after acquiring an additional 4,141,220 shares during the period. Norges Bank acquired a new stake in Consolidated Edison in the 4th quarter worth $318,245,000. Morgan Stanley grew its position in Consolidated Edison by 33.3% in the 4th quarter. Morgan Stanley now owns 4,128,579 shares of the utilities provider's stock worth $393,495,000 after purchasing an additional 1,030,730 shares during the last quarter. Newport Trust Company LLC acquired a new stake in Consolidated Edison in the 3rd quarter worth $51,134,000. Finally, International Assets Investment Management LLC grew its position in Consolidated Edison by 9,063.6% in the 4th quarter. International Assets Investment Management LLC now owns 519,028 shares of the utilities provider's stock worth $47,216,000 after purchasing an additional 513,364 shares during the last quarter. Institutional investors own 66.29% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on ED shares. Scotiabank raised their price target on shares of Consolidated Edison from $90.00 to $91.00 and gave the stock a "sector underperform" rating in a research report on Tuesday, February 20th. LADENBURG THALM/SH SH assumed coverage on shares of Consolidated Edison in a research report on Wednesday, January 3rd. They set a "neutral" rating and a $92.50 target price on the stock. KeyCorp upgraded shares of Consolidated Edison from an "underweight" rating to a "sector weight" rating in a research report on Thursday, January 4th. UBS Group decreased their target price on shares of Consolidated Edison from $99.00 to $94.00 and set a "neutral" rating on the stock in a research report on Friday, February 16th. Finally, Royal Bank of Canada decreased their target price on shares of Consolidated Edison from $94.00 to $93.00 and set a "sector perform" rating on the stock in a research report on Friday, February 16th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $87.96.

Consolidated Edison Price Performance

Shares of NYSE ED traded up $0.69 during trading on Monday, reaching $89.32. The company had a trading volume of 3,498,456 shares, compared to its average volume of 1,767,361. Consolidated Edison, Inc. has a 52 week low of $80.46 and a 52 week high of $100.92. The stock has a market cap of $30.86 billion, a PE ratio of 12.44, a PEG ratio of 8.36 and a beta of 0.35. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.94 and a current ratio of 1.01. The business's 50 day moving average price is $88.91 and its 200-day moving average price is $89.49.

Consolidated Edison (NYSE:ED - Get Free Report) last announced its earnings results on Thursday, February 15th. The utilities provider reported $1.00 earnings per share for the quarter, topping analysts' consensus estimates of $0.98 by $0.02. Consolidated Edison had a net margin of 17.19% and a return on equity of 8.41%. The company had revenue of $3.44 billion during the quarter, compared to the consensus estimate of $3.70 billion. During the same period in the previous year, the firm posted $0.81 earnings per share. The company's revenue was down 14.6% on a year-over-year basis. Analysts expect that Consolidated Edison, Inc. will post 5.3 earnings per share for the current year.

Consolidated Edison Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Wednesday, February 14th were paid a $0.83 dividend. The ex-dividend date was Tuesday, February 13th. This is an increase from Consolidated Edison's previous quarterly dividend of $0.81. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.72%. Consolidated Edison's payout ratio is currently 46.24%.

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.