Shell Asset Management Co. Decreases Position in Consolidated Edison, Inc. (NYSE:ED)

Shell Asset Management Co. lowered its position in shares of Consolidated Edison, Inc. (NYSE:ED - Free Report) by 40.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,960 shares of the utilities provider's stock after selling 21,115 shares during the period. Shell Asset Management Co.'s holdings in Consolidated Edison were worth $2,763,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Sherbrooke Park Advisers LLC raised its position in Consolidated Edison by 76.7% in the 4th quarter. Sherbrooke Park Advisers LLC now owns 23,336 shares of the utilities provider's stock worth $2,082,000 after purchasing an additional 10,133 shares during the period. Raiffeisen Bank International AG purchased a new position in Consolidated Edison in the 4th quarter worth approximately $1,418,000. Quantinno Capital Management LP lifted its position in Consolidated Edison by 154.3% in the fourth quarter. Quantinno Capital Management LP now owns 111,726 shares of the utilities provider's stock valued at $9,969,000 after purchasing an additional 67,785 shares during the last quarter. Mufg Securities Americas Inc. bought a new stake in Consolidated Edison in the fourth quarter valued at approximately $456,000. Finally, Man Group plc boosted its stake in shares of Consolidated Edison by 95.6% during the fourth quarter. Man Group plc now owns 605,933 shares of the utilities provider's stock valued at $54,067,000 after purchasing an additional 296,115 shares during the period. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

Consolidated Edison Stock Down 1.4%

Shares of ED stock traded down $1.44 during mid-day trading on Thursday, reaching $103.79. 666,526 shares of the company's stock traded hands, compared to its average volume of 2,848,925. The company's 50-day moving average price is $108.50 and its 200-day moving average price is $99.92. The company has a market cap of $37.39 billion, a P/E ratio of 19.80, a P/E/G 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, Inc. has a 12 month low of $87.28 and a 12 month high of $114.87.

Consolidated Edison (NYSE:ED - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The utilities provider reported $2.25 EPS for the quarter, missing the consensus estimate 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 period in the previous year, the firm earned $2.15 EPS. On average, equities analysts expect that Consolidated Edison, Inc. will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Wednesday, May 14th will be given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 3.28%. The ex-dividend date is Wednesday, May 14th. Consolidated Edison's dividend payout ratio (DPR) is presently 62.85%.

Analyst Ratings Changes

ED has been the topic of several analyst reports. Mizuho lifted their target price on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock a "neutral" rating in a research note on Monday, February 3rd. Barclays upped their price target on Consolidated Edison from $100.00 to $101.00 and gave the company an "underweight" rating in a research report on Monday, May 5th. KeyCorp lowered Consolidated Edison from a "sector weight" rating to an "underweight" rating and set a $90.00 price target for the company. in a research note on Wednesday, May 14th. UBS Group lifted their price target on shares of Consolidated Edison from $110.00 to $113.00 and gave the company a "neutral" rating in a report on Friday, March 21st. Finally, Citigroup upped their price objective on shares of Consolidated Edison from $116.00 to $120.00 and gave the stock a "buy" rating in a report on Wednesday, April 9th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target 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.