Xponance Inc. Raises Holdings in Consolidated Edison, Inc. (NYSE:ED)

Xponance Inc. increased its position in Consolidated Edison, Inc. (NYSE:ED) by 4.3% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 52,823 shares of the utilities provider’s stock after purchasing an additional 2,162 shares during the period. Xponance Inc.’s holdings in Consolidated Edison were worth $4,713,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. AlphaMark Advisors LLC purchased a new stake in Consolidated Edison in the 4th quarter worth about $27,000. Fairway Wealth LLC purchased a new stake in shares of Consolidated Edison in the fourth quarter worth approximately $36,000. OFI Invest Asset Management bought a new stake in shares of Consolidated Edison during the 4th quarter worth approximately $35,000. Centricity Wealth Management LLC purchased a new position in Consolidated Edison during the 4th quarter valued at $39,000. Finally, Bank Julius Baer & Co. Ltd Zurich purchased a new stake in Consolidated Edison in the fourth quarter worth $44,000. Institutional investors own 66.29% of the company’s stock.

Wall Street Analyst Weigh In

ED has been the subject of a number of research analyst reports. Barclays lifted their price objective on shares of Consolidated Edison from $92.00 to $95.00 and gave the company an “underweight” rating in a report on Monday, February 24th. Morgan Stanley boosted their price target on Consolidated Edison from $85.00 to $91.00 and gave the company an “underweight” rating in a report on Thursday. Evercore ISI downgraded Consolidated Edison from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 21st. Mizuho upped their target price on Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Finally, Scotiabank increased their price target on Consolidated Edison from $100.00 to $101.00 and gave the stock a “sector perform” rating in a research report on Monday, February 24th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Consolidated Edison presently has an average rating of “Hold” and an average target price of $102.10.

Consolidated Edison Price Performance

ED opened at $108.54 on Friday. The firm has a market capitalization of $37.64 billion, a PE ratio of 20.71, a price-to-earnings-growth ratio of 3.05 and a beta of 0.30. The business’s 50-day moving average is $97.52 and its two-hundred day moving average is $98.39. Consolidated Edison, Inc. has a 1 year low of $87.16 and a 1 year high of $109.78. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings data on Thursday, February 20th. The utilities provider reported $0.98 EPS for the quarter, topping the consensus estimate of $0.97 by $0.01. The firm had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.63 billion. Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. Research analysts anticipate that Consolidated Edison, Inc. will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Wednesday, February 19th were given a $0.85 dividend. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend was Wednesday, February 19th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.13%. Consolidated Edison’s dividend payout ratio (DPR) is presently 64.89%.

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.