Consolidated Edison, Inc. (NYSE:ED) Shares Acquired by Fidelis Capital Partners LLC

Fidelis Capital Partners LLC grew its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 2.7% in the 4th quarter, HoldingsChannel reports. The firm owned 8,798 shares of the utilities provider’s stock after acquiring an additional 232 shares during the quarter. Fidelis Capital Partners LLC’s holdings in Consolidated Edison were worth $841,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. State Street Corp raised its holdings in Consolidated Edison by 1.7% during the 3rd quarter. State Street Corp now owns 23,429,218 shares of the utilities provider’s stock worth $2,439,684,000 after buying an additional 399,034 shares during the period. Geode Capital Management LLC raised its holdings in shares of Consolidated Edison by 1.2% during the third quarter. Geode Capital Management LLC now owns 8,853,788 shares of the utilities provider’s stock valued at $919,041,000 after acquiring an additional 107,281 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Consolidated Edison by 1.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,148,666 shares of the utilities provider’s stock valued at $223,741,000 after acquiring an additional 28,254 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Consolidated Edison by 4.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,145,128 shares of the utilities provider’s stock worth $223,373,000 after purchasing an additional 82,985 shares during the period. Finally, Allianz Asset Management GmbH boosted its stake in Consolidated Edison by 13.8% in the 4th quarter. Allianz Asset Management GmbH now owns 1,847,034 shares of the utilities provider’s stock worth $164,811,000 after purchasing an additional 224,258 shares during the period. Institutional investors and hedge funds own 66.29% of the company’s stock.

Wall Street Analysts Forecast Growth

ED has been the topic of several recent analyst reports. Mizuho boosted their target price on shares of Consolidated Edison from $92.00 to $95.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. UBS Group increased their price objective on Consolidated Edison from $105.00 to $110.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 25th. Evercore ISI lowered Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 21st. Scotiabank upped their target price on Consolidated Edison from $100.00 to $101.00 and gave the company a “sector perform” rating in a report on Monday, February 24th. Finally, Barclays raised their price target on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock an “underweight” rating in a report on Monday, February 24th. Two analysts have rated the stock with a sell rating, seven have assigned 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, the company has an average rating of “Hold” and a consensus target price of $101.50.

Consolidated Edison Stock Performance

ED stock opened at $104.09 on Tuesday. The firm has a 50 day moving average of $93.42 and a two-hundred day moving average of $97.97. Consolidated Edison, Inc. has a 12 month low of $86.56 and a 12 month high of $107.75. The company has a market capitalization of $36.09 billion, a price-to-earnings ratio of 19.86, a P/E/G ratio of 3.05 and a beta of 0.39. 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 (NYSE:ED) last issued its quarterly earnings data on Thursday, February 20th. The utilities provider reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.01. Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. The firm had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.63 billion. As a group, equities analysts anticipate that Consolidated Edison, Inc. will post 5.62 EPS for the current fiscal year.

Consolidated Edison Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Wednesday, February 19th will be paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.27%. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend is Wednesday, February 19th. Consolidated Edison’s dividend payout ratio (DPR) 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.