Haverford Trust Co Has $372,000 Position in Consolidated Edison, Inc. (NYSE:ED)

Haverford Trust Co boosted its stake in Consolidated Edison, Inc. (NYSE:ED) by 5.0% in the 3rd quarter, Holdings Channel.com reports. The firm owned 3,577 shares of the utilities provider’s stock after acquiring an additional 170 shares during the quarter. Haverford Trust Co’s holdings in Consolidated Edison were worth $372,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in ED. Mizuho Markets Americas LLC grew its position in Consolidated Edison by 121.1% during the 1st quarter. Mizuho Markets Americas LLC now owns 113,675 shares of the utilities provider’s stock worth $10,323,000 after acquiring an additional 62,260 shares during the last quarter. Te Ahumairangi Investment Management Ltd grew its holdings in shares of Consolidated Edison by 10.8% during the first quarter. Te Ahumairangi Investment Management Ltd now owns 80,796 shares of the utilities provider’s stock worth $7,337,000 after purchasing an additional 7,870 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of Consolidated Edison by 0.4% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 581,180 shares of the utilities provider’s stock valued at $52,712,000 after buying an additional 2,296 shares during the period. Intech Investment Management LLC raised its holdings in Consolidated Edison by 10.6% in the 1st quarter. Intech Investment Management LLC now owns 147,764 shares of the utilities provider’s stock valued at $13,418,000 after buying an additional 14,163 shares during the last quarter. Finally, Cornerstone Advisors LLC acquired a new stake in Consolidated Edison during the 1st quarter worth approximately $291,000. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Price Performance

NYSE:ED opened at $95.25 on Friday. Consolidated Edison, Inc. has a 52-week low of $85.85 and a 52-week high of $107.75. The stock has a fifty day moving average of $102.99 and a 200 day moving average of $98.00. 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 has a market capitalization of $33.00 billion, a price-to-earnings ratio of 17.94, a P/E/G ratio of 3.26 and a beta of 0.36.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Thursday, November 7th. The utilities provider reported $1.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.56 by $0.12. The firm had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $4.02 billion. Consolidated Edison had a return on equity of 8.70% and a net margin of 12.27%. On average, research analysts expect that Consolidated Edison, Inc. will post 5.33 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Wednesday, November 13th will be paid a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 3.49%. The ex-dividend date of this dividend is Wednesday, November 13th. Consolidated Edison’s dividend payout ratio (DPR) is currently 62.52%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Barclays dropped their price target on shares of Consolidated Edison from $104.00 to $99.00 and set an “underweight” rating for the company in a research note on Friday, November 8th. Morgan Stanley upped their price target on Consolidated Edison from $82.00 to $87.00 and gave the company an “underweight” rating in a research report on Wednesday, September 25th. Bank of America raised their price objective on Consolidated Edison from $97.00 to $109.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Evercore ISI upgraded shares of Consolidated Edison from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 8th. Finally, Guggenheim raised their target price on Consolidated Edison from $88.00 to $91.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $98.35.

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.