Greenleaf Trust Has $674,000 Stock Position in Consolidated Edison, Inc. (NYSE:ED)

Greenleaf Trust boosted its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 31.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 7,405 shares of the utilities provider’s stock after buying an additional 1,754 shares during the period. Greenleaf Trust’s holdings in Consolidated Edison were worth $674,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Newport Trust Company LLC bought a new position in shares of Consolidated Edison during the 3rd quarter worth approximately $51,134,000. International Assets Investment Management LLC grew its stake in shares of Consolidated Edison by 9,063.6% during the 4th quarter. International Assets Investment Management LLC now owns 519,028 shares of the utilities provider’s stock worth $47,216,000 after acquiring an additional 513,364 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC bought a new position in shares of Consolidated Edison during the 3rd quarter worth approximately $39,556,000. Northern Trust Corp grew its stake in shares of Consolidated Edison by 8.2% during the 3rd quarter. Northern Trust Corp now owns 4,484,026 shares of the utilities provider’s stock worth $383,519,000 after acquiring an additional 340,239 shares in the last quarter. Finally, QRG Capital Management Inc. bought a new position in shares of Consolidated Edison during the 3rd quarter worth approximately $28,156,000. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Consolidated Edison Trading Up 1.0 %

Shares of Consolidated Edison stock opened at $92.73 on Tuesday. The business has a fifty day simple moving average of $89.03 and a two-hundred day simple moving average of $89.76. Consolidated Edison, Inc. has a 1 year low of $80.46 and a 1 year high of $100.92. The company has a market capitalization of $32.04 billion, a price-to-earnings ratio of 12.92, a P/E/G ratio of 8.65 and a beta of 0.35. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.01 and a quick ratio of 0.94.

Consolidated Edison (NYSE:ED) last posted its earnings results on Thursday, February 15th. The utilities provider reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.02. Consolidated Edison had a return on equity of 8.41% and a net margin of 17.19%. The company had revenue of $3.44 billion during the quarter, compared to the consensus estimate of $3.70 billion. During the same quarter last year, the firm earned $0.81 earnings per share. The company’s revenue was down 14.6% on a year-over-year basis. Research analysts forecast that Consolidated Edison, Inc. will post 5.3 EPS for the current year.

Consolidated Edison Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Wednesday, May 15th will be issued a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.58%. The ex-dividend date is Tuesday, May 14th. Consolidated Edison’s dividend payout ratio is currently 46.24%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ED. LADENBURG THALM/SH SH began coverage on shares of Consolidated Edison in a research note on Wednesday, January 3rd. They set a “neutral” rating and a $92.50 price target for the company. KeyCorp raised shares of Consolidated Edison from an “underweight” rating to a “sector weight” rating in a research note on Thursday, January 4th. Royal Bank of Canada decreased their target price on shares of Consolidated Edison from $94.00 to $93.00 and set a “sector perform” rating for the company in a research note on Friday, February 16th. UBS Group decreased their target price on shares of Consolidated Edison from $99.00 to $94.00 and set a “neutral” rating for the company in a research note on Friday, February 16th. Finally, Barclays raised their target price on shares of Consolidated Edison from $86.00 to $87.00 and gave the company an “equal weight” rating in a research note on Thursday, March 14th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $87.54.

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.