Price T Rowe Associates Inc. MD Grows Stock Position in Consolidated Edison, Inc. (NYSE:ED)

Price T Rowe Associates Inc. MD lifted its holdings in Consolidated Edison, Inc. (NYSE:ED - Free Report) by 1.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 535,588 shares of the utilities provider's stock after buying an additional 7,407 shares during the period. Price T Rowe Associates Inc. MD owned approximately 0.15% of Consolidated Edison worth $47,792,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ED. AlphaMark Advisors LLC purchased a new stake in Consolidated Edison in the fourth quarter valued at $27,000. OFI Invest Asset Management purchased a new stake in Consolidated Edison in the 4th quarter valued at about $35,000. Fairway Wealth LLC acquired a new position in Consolidated Edison in the fourth quarter valued at about $36,000. Centricity Wealth Management LLC purchased a new position in Consolidated Edison during the fourth quarter worth about $39,000. Finally, Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of Consolidated Edison in the 4th quarter valued at approximately $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 $0.47 during mid-day trading on Monday, reaching $109.56. 385,072 shares of the company were exchanged, compared to its average volume of 2,811,202. The firm has a market cap of $39.47 billion, a PE ratio of 20.91, a price-to-earnings-growth ratio of 3.05 and a beta of 0.27. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01. The firm's 50-day simple moving average is $107.80 and its two-hundred day simple moving average is $99.76. Consolidated Edison, Inc. has a twelve month low of $87.28 and a twelve month high of $114.87.

Consolidated Edison (NYSE:ED - Get Free Report) last issued its earnings results on Thursday, May 1st. The utilities provider reported $2.25 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.05). The company had revenue of $4.80 billion for the quarter, compared to analyst estimates 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 in the previous year, the company posted $2.15 earnings per share. Equities analysts predict that Consolidated Edison, Inc. will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Wednesday, May 14th will be paid a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 3.10%. The ex-dividend date of this dividend is Wednesday, May 14th. Consolidated Edison's payout ratio is 64.89%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on ED. Evercore ISI cut Consolidated Edison from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, January 21st. Morgan Stanley set a $94.00 target price on Consolidated Edison and gave the stock an "overweight" rating in a research note on Wednesday, April 23rd. Citigroup boosted their target price on shares of Consolidated Edison from $116.00 to $120.00 and gave the stock a "buy" rating in a research note on Wednesday, April 9th. UBS Group lifted their price target on Consolidated Edison from $110.00 to $113.00 and gave the stock a "neutral" rating in a report on Friday, March 21st. Finally, Guggenheim boosted their target price on Consolidated Edison from $96.00 to $103.00 and gave the stock a "neutral" rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Consolidated Edison currently has a consensus rating of "Hold" and a consensus target price of $105.80.

About Consolidated Edison

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.