Gulf International Bank UK Ltd Increases Holdings in Consolidated Edison, Inc. (NYSE:ED)

Gulf International Bank UK Ltd lifted its position in shares of Consolidated Edison, Inc. (NYSE:ED) by 5.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,819 shares of the utilities provider’s stock after buying an additional 1,388 shares during the period. Gulf International Bank UK Ltd’s holdings in Consolidated Edison were worth $2,571,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Capital Performance Advisors LLP purchased a new position in shares of Consolidated Edison during the 3rd quarter valued at about $27,000. Ashton Thomas Securities LLC purchased a new position in shares of Consolidated Edison during the 3rd quarter valued at about $30,000. AlphaMark Advisors LLC purchased a new position in shares of Consolidated Edison during the 4th quarter valued at about $27,000. Centricity Wealth Management LLC purchased a new position in shares of Consolidated Edison during the 4th quarter valued at about $39,000. Finally, FSA Wealth Management LLC purchased a new position in shares of Consolidated Edison during the 3rd quarter valued at about $55,000. 66.29% of the stock is owned by hedge funds and other institutional investors.

Consolidated Edison Price Performance

Shares of ED stock opened at $101.45 on Friday. The firm has a market cap of $35.17 billion, a P/E ratio of 19.36, a P/E/G ratio of 3.05 and a beta of 0.39. Consolidated Edison, Inc. has a fifty-two week low of $85.85 and a fifty-two week high of $107.75. The business’s 50 day moving average price is $93.13 and its 200-day moving average price is $97.98. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01.

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

Consolidated Edison Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th will be issued a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 3.35%. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend is Wednesday, February 19th. Consolidated Edison’s payout ratio is 64.89%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Barclays raised their price objective on Consolidated Edison from $92.00 to $95.00 and gave the company an “underweight” rating in a report on Monday, February 24th. UBS Group lifted their price target on Consolidated Edison from $105.00 to $110.00 and gave the stock a “neutral” rating in a research note on Tuesday. Evercore ISI cut Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 21st. Mizuho lifted their price target on Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Finally, Morgan Stanley decreased their price target on Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating on the stock in a research note on Friday, November 22nd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $101.50.

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.