National Pension Service Buys 26,775 Shares of Consolidated Edison, Inc. (NYSE:ED)

National Pension Service grew its stake in Consolidated Edison, Inc. (NYSE:ED – Get Rating) by 4.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 647,926 shares of the utilities provider’s stock after purchasing an additional 26,775 shares during the period. National Pension Service owned approximately 0.18% of Consolidated Edison worth $56,797,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Burleson & Company LLC purchased a new stake in shares of Consolidated Edison in the third quarter worth approximately $26,000. Destiny Wealth Partners LLC purchased a new stake in shares of Consolidated Edison in the third quarter worth approximately $30,000. Almanack Investment Partners LLC. purchased a new stake in shares of Consolidated Edison in the third quarter worth approximately $36,000. Motco purchased a new stake in shares of Consolidated Edison in the third quarter worth approximately $37,000. Finally, Heritage Wealth Management LLC purchased a new stake in shares of Consolidated Edison in the second quarter worth approximately $39,000. 64.95% of the stock is owned by institutional investors.

Consolidated Edison Price Performance

NYSE:ED opened at $95.64 on Thursday. Consolidated Edison, Inc. has a 12 month low of $78.10 and a 12 month high of $102.21. The stock has a 50 day moving average of $93.36 and a two-hundred day moving average of $93.01. The company has a current ratio of 1.14, a quick ratio of 1.10 and a debt-to-equity ratio of 0.96. The firm has a market cap of $33.96 billion, a P/E ratio of 20.48, a price-to-earnings-growth ratio of 9.28 and a beta of 0.35.

Consolidated Edison (NYSE:ED – Get Rating) last posted its quarterly earnings data on Thursday, February 16th. The utilities provider reported $0.81 EPS for the quarter, topping the consensus estimate of $0.78 by $0.03. The company had revenue of $4.03 billion during the quarter, compared to analyst estimates of $3.18 billion. Consolidated Edison had a return on equity of 7.79% and a net margin of 10.59%. Consolidated Edison’s quarterly revenue was up 18.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.00 EPS. On average, analysts expect that Consolidated Edison, Inc. will post 4.88 earnings per share for the current fiscal year.

Consolidated Edison Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 15th. Shareholders of record on Wednesday, February 15th were paid a dividend of $0.81 per share. This represents a $3.24 dividend on an annualized basis and a yield of 3.39%. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.79. The ex-dividend date of this dividend was Tuesday, February 14th. Consolidated Edison’s dividend payout ratio is 69.38%.

Analyst Ratings Changes

Several research firms have commented on ED. Morgan Stanley reduced their price objective on Consolidated Edison from $79.00 to $76.00 and set an “underweight” rating on the stock in a report on Wednesday, February 22nd. Citigroup lifted their price target on Consolidated Edison from $92.00 to $103.00 and gave the company a “neutral” rating in a report on Wednesday, February 22nd. Mizuho lowered their price objective on Consolidated Edison from $98.00 to $92.00 and set a “neutral” rating for the company in a research report on Friday, February 17th. JPMorgan Chase & Co. lowered their price objective on Consolidated Edison from $88.00 to $87.00 and set an “underweight” rating for the company in a research report on Thursday, February 2nd. Finally, Credit Suisse Group lowered their price target on Consolidated Edison from $95.00 to $91.00 and set a “neutral” rating for the company in a research report on Friday, February 17th. Five investment analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. Based on data from MarketBeat.com, Consolidated Edison presently has a consensus rating of “Hold” and a consensus target price of $89.25.

Consolidated Edison Company Profile

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Consolidated Edison, Inc is a holding company, which engages in the business of regulated electric, gas, and steam delivery. It operates through the following segments: Consolidated Edison Company of New York (CECONY), Orange and Rockland Utilities(O&R), Con Edison Clean Energy Businesses and Con Edison Transmission.