Consolidated Edison, Inc. (NYSE:ED) Shares Purchased by Invesco Ltd.

Invesco Ltd. boosted its stake in Consolidated Edison, Inc. (NYSE:ED) by 27.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,721,730 shares of the utilities provider’s stock after acquiring an additional 812,885 shares during the period. Invesco Ltd. owned 1.07% of Consolidated Edison worth $332,090,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. TD Private Client Wealth LLC grew its position in shares of Consolidated Edison by 4.7% during the third quarter. TD Private Client Wealth LLC now owns 2,334 shares of the utilities provider’s stock worth $243,000 after acquiring an additional 104 shares during the last quarter. Jacobi Capital Management LLC boosted its position in shares of Consolidated Edison by 4.2% during the 4th quarter. Jacobi Capital Management LLC now owns 2,569 shares of the utilities provider’s stock valued at $229,000 after purchasing an additional 104 shares in the last quarter. Richwood Investment Advisors LLC lifted its stake in Consolidated Edison by 2.3% during the fourth quarter. Richwood Investment Advisors LLC now owns 5,194 shares of the utilities provider’s stock valued at $463,000 after buying an additional 115 shares in the last quarter. Penobscot Investment Management Company Inc. lifted its stake in Consolidated Edison by 5.7% during the fourth quarter. Penobscot Investment Management Company Inc. now owns 2,300 shares of the utilities provider’s stock valued at $205,000 after buying an additional 125 shares in the last quarter. Finally, Trust Point Inc. lifted its stake in Consolidated Edison by 4.9% during the fourth quarter. Trust Point Inc. now owns 2,790 shares of the utilities provider’s stock valued at $249,000 after buying an additional 131 shares in the last quarter. 66.29% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ED has been the subject of a number of research analyst reports. Barclays increased their price target 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. Scotiabank increased their price target on Consolidated Edison from $100.00 to $101.00 and gave the company a “sector perform” rating in a report on Monday, February 24th. Mizuho increased their price target on Consolidated Edison from $92.00 to $95.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. UBS Group increased their price target on Consolidated Edison from $110.00 to $113.00 and gave the company a “neutral” rating in a report on Friday, March 21st. Finally, Evercore ISI downgraded Consolidated Edison from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 21st. Two equities 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. Based on data from MarketBeat.com, Consolidated Edison has an average rating of “Hold” and an average price target of $102.80.

Consolidated Edison Trading Down 0.1 %

Shares of Consolidated Edison stock opened at $105.90 on Thursday. The company’s fifty day simple moving average is $102.63 and its 200-day simple moving average is $98.85. The company has a market cap of $38.15 billion, a price-to-earnings ratio of 20.21, a PEG ratio of 3.05 and a beta of 0.27. 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 1 year low of $87.28 and a 1 year high of $114.87.

Consolidated Edison (NYSE:ED) last issued its earnings results 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 analysts’ expectations of $3.63 billion. Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. As a group, sell-side analysts expect that Consolidated Edison, Inc. will post 5.62 EPS for the current year.

Consolidated Edison Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors 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. This represents a $3.40 annualized dividend and a yield of 3.21%. The ex-dividend date of this dividend was Wednesday, February 19th. Consolidated Edison’s dividend payout ratio (DPR) is 64.89%.

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.