Norinchukin Bank The Acquires 1,875 Shares of Consolidated Edison, Inc. (NYSE:ED)

Norinchukin Bank The raised its position in shares of Consolidated Edison, Inc. (NYSE:ED) by 12.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,670 shares of the utilities provider’s stock after buying an additional 1,875 shares during the period. Norinchukin Bank The’s holdings in Consolidated Edison were worth $1,487,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Jacobi Capital Management LLC grew its holdings 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 during the last quarter. Richwood Investment Advisors LLC grew its stake in shares of Consolidated Edison by 2.3% during the fourth quarter. Richwood Investment Advisors LLC now owns 5,194 shares of the utilities provider’s stock worth $463,000 after buying an additional 115 shares during the last quarter. Penobscot Investment Management Company Inc. increased its holdings in shares of 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 worth $205,000 after buying an additional 125 shares in the last quarter. Trust Point Inc. lifted its stake in shares of Consolidated Edison by 4.9% in the 4th quarter. Trust Point Inc. now owns 2,790 shares of the utilities provider’s stock valued at $249,000 after acquiring an additional 131 shares during the last quarter. Finally, Haverford Trust Co grew its position in Consolidated Edison by 3.7% during the 4th quarter. Haverford Trust Co now owns 3,709 shares of the utilities provider’s stock worth $331,000 after acquiring an additional 132 shares during the last quarter. Institutional investors own 66.29% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on ED shares. Scotiabank boosted their price target on Consolidated Edison from $100.00 to $101.00 and gave the stock a “sector perform” rating in a report on Monday, February 24th. Evercore ISI downgraded Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 21st. Mizuho increased their target price on shares of Consolidated Edison from $92.00 to $95.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. UBS Group lifted their target price on shares of Consolidated Edison from $110.00 to $113.00 and gave the stock a “neutral” rating in a research note on Friday, March 21st. Finally, Morgan Stanley increased their target price on Consolidated Edison from $85.00 to $91.00 and gave the company an “underweight” rating in a research note on Thursday, March 20th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Consolidated Edison has an average rating of “Hold” and an average price target of $102.80.

Consolidated Edison Stock Performance

ED stock opened at $111.94 on Monday. The firm has a market cap of $40.32 billion, a price-to-earnings ratio of 21.36, a PEG ratio of 3.05 and a beta of 0.27. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07. Consolidated Edison, Inc. has a twelve month low of $87.28 and a twelve month high of $114.87. The business’s fifty day simple moving average is $104.76 and its two-hundred day simple moving average is $99.17.

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 return on equity of 8.62% and a net margin of 11.93%. The business had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.63 billion. Analysts predict that Consolidated Edison, Inc. will post 5.62 earnings per share for the current year.

Consolidated Edison Announces Dividend

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