CANADA LIFE ASSURANCE Co Purchases 87,298 Shares of Consolidated Edison, Inc. (NYSE:ED)

CANADA LIFE ASSURANCE Co lifted its position in shares of Consolidated Edison, Inc. (NYSE:ED) by 10.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 913,387 shares of the utilities provider’s stock after buying an additional 87,298 shares during the quarter. CANADA LIFE ASSURANCE Co owned approximately 0.26% of Consolidated Edison worth $81,430,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Canada Pension Plan Investment Board lifted its position in shares of Consolidated Edison by 2.9% in the 4th quarter. Canada Pension Plan Investment Board now owns 713,317 shares of the utilities provider’s stock worth $63,649,000 after purchasing an additional 20,288 shares during the period. Farringdon Capital Ltd. purchased a new stake in Consolidated Edison during the fourth quarter worth $385,000. Marshall Wace LLP boosted its position in Consolidated Edison by 232.3% during the 4th quarter. Marshall Wace LLP now owns 1,053,339 shares of the utilities provider’s stock valued at $93,989,000 after acquiring an additional 736,348 shares in the last quarter. NewEdge Advisors LLC increased its holdings in shares of Consolidated Edison by 33.3% in the 4th quarter. NewEdge Advisors LLC now owns 21,584 shares of the utilities provider’s stock valued at $1,926,000 after acquiring an additional 5,387 shares during the period. Finally, Regal Investment Advisors LLC raised its position in shares of Consolidated Edison by 1.1% in the 4th quarter. Regal Investment Advisors LLC now owns 53,585 shares of the utilities provider’s stock worth $4,781,000 after acquiring an additional 581 shares in the last quarter. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ED. Barclays raised their price objective on Consolidated Edison from $92.00 to $95.00 and gave the company an “underweight” rating in a research report on Monday, February 24th. UBS Group lifted their price objective on shares of Consolidated Edison from $110.00 to $113.00 and gave the stock a “neutral” rating in a research report on Friday, March 21st. Scotiabank increased their target price on shares of Consolidated Edison from $100.00 to $101.00 and gave the company a “sector perform” rating in a research report on Monday, February 24th. Morgan Stanley lifted their price target on shares of Consolidated Edison from $85.00 to $91.00 and gave the stock an “underweight” rating in a report on Thursday, March 20th. Finally, Citigroup increased their price objective on Consolidated Edison from $116.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, April 9th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $102.80.

Consolidated Edison Stock Up 0.4 %

Shares of ED stock opened at $111.94 on Friday. Consolidated Edison, Inc. has a fifty-two week low of $87.28 and a fifty-two week high of $114.87. The firm has a market capitalization of $40.32 billion, a PE ratio of 21.36, a P/E/G ratio of 3.05 and a beta of 0.27. 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 stock’s 50-day simple moving average is $104.45 and its 200-day simple moving average is $99.19.

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

Consolidated Edison Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Wednesday, May 14th will be issued a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 3.04%. Consolidated Edison’s payout ratio is 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.