Brandywine Global Investment Management LLC Has $18.77 Million Stock Position in Consolidated Edison, Inc. (NYSE:ED)

Brandywine Global Investment Management LLC decreased its holdings in Consolidated Edison, Inc. (NYSE:ED) by 7.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 210,405 shares of the utilities provider’s stock after selling 16,177 shares during the period. Brandywine Global Investment Management LLC’s holdings in Consolidated Edison were worth $18,774,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Physician Wealth Advisors Inc. bought a new stake in shares of Consolidated Edison in the 4th quarter valued at about $100,000. CIBC Private Wealth Group LLC boosted its holdings in Consolidated Edison by 1,327.9% in the fourth quarter. CIBC Private Wealth Group LLC now owns 322,436 shares of the utilities provider’s stock valued at $28,700,000 after acquiring an additional 299,855 shares during the last quarter. Schroder Investment Management Group boosted its holdings in Consolidated Edison by 33.6% in the fourth quarter. Schroder Investment Management Group now owns 628,438 shares of the utilities provider’s stock valued at $56,032,000 after acquiring an additional 157,976 shares during the last quarter. Allianz SE acquired a new stake in Consolidated Edison during the 4th quarter valued at approximately $246,000. Finally, Allstate Corp acquired a new position in shares of Consolidated Edison in the 4th quarter worth approximately $950,000. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ED has been the subject of several recent analyst reports. Scotiabank increased their price objective on shares of Consolidated Edison from $100.00 to $101.00 and gave the stock a “sector perform” rating in a research report on Monday, February 24th. Mizuho lifted their price objective on Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Evercore ISI downgraded Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 21st. Morgan Stanley boosted their price target on Consolidated Edison from $85.00 to $91.00 and gave the company an “underweight” rating in a research note on Thursday, March 20th. Finally, Barclays raised their price objective on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock an “underweight” rating in a research report on Monday, February 24th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Consolidated Edison presently has an average rating of “Hold” and an average target price of $102.40.

Consolidated Edison Stock Performance

Shares of Consolidated Edison stock opened at $108.81 on Monday. The business’s fifty day simple moving average is $99.56 and its 200 day simple moving average is $98.47. The company has a current ratio of 1.01, a quick ratio of 0.93 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 $109.44. The firm has a market capitalization of $37.73 billion, a P/E ratio of 20.77, a price-to-earnings-growth ratio of 3.05 and a beta of 0.30.

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

Consolidated Edison Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Wednesday, February 19th were paid a dividend of $0.85 per share. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.83. The ex-dividend date was Wednesday, February 19th. This represents a $3.40 annualized dividend and a dividend yield of 3.12%. Consolidated Edison’s dividend payout ratio is presently 64.89%.

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.