Intech Investment Management LLC Has $18.17 Million Position in Consolidated Edison, Inc. (NYSE:ED)

Intech Investment Management LLC increased its holdings in shares of Consolidated Edison, Inc. (NYSE:ED) by 35.6% during the 4th quarter, Holdings Channel.com reports. The fund owned 203,633 shares of the utilities provider’s stock after acquiring an additional 53,425 shares during the period. Intech Investment Management LLC’s holdings in Consolidated Edison were worth $18,170,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in ED. Generali Asset Management SPA SGR bought a new position in Consolidated Edison during the 4th quarter valued at about $3,445,000. Horizon Investments LLC raised its stake in shares of Consolidated Edison by 2.4% in the fourth quarter. Horizon Investments LLC now owns 6,312 shares of the utilities provider’s stock worth $563,000 after acquiring an additional 147 shares during the last quarter. RD Lewis Holdings Inc. bought a new position in shares of Consolidated Edison in the fourth quarter worth about $1,413,000. Flagship Wealth Advisors LLC bought a new position in shares of Consolidated Edison in the fourth quarter worth about $196,000. Finally, Signaturefd LLC raised its stake in shares of Consolidated Edison by 8.1% in the fourth quarter. Signaturefd LLC now owns 13,128 shares of the utilities provider’s stock worth $1,171,000 after acquiring an additional 982 shares during the last quarter. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Consolidated Edison Stock Up 1.3 %

Consolidated Edison stock opened at $107.74 on Tuesday. The stock has a market capitalization of $37.36 billion, a PE ratio of 20.56, a price-to-earnings-growth ratio of 3.05 and a beta of 0.30. Consolidated Edison, Inc. has a twelve month low of $87.16 and a twelve month high of $110.01. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07. The company has a 50 day moving average of $96.35 and a 200-day moving average of $98.21.

Consolidated Edison (NYSE:ED) last released 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. The company had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.63 billion. Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. On average, equities research analysts anticipate that Consolidated Edison, Inc. will post 5.62 EPS for the current fiscal year.

Consolidated Edison Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Wednesday, February 19th were given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date of this dividend was Wednesday, February 19th. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.83. Consolidated Edison’s payout ratio is currently 64.89%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Mizuho boosted their target price on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Evercore ISI downgraded shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 21st. Morgan Stanley dropped their target price on shares of Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating for the company in a research note on Friday, November 22nd. Scotiabank boosted their price target on shares of Consolidated Edison from $100.00 to $101.00 and gave the stock a “sector perform” rating in a research note on Monday, February 24th. Finally, Barclays boosted their price target on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock an “underweight” rating in a research note on Monday, February 24th. 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 assigned a strong buy rating to the company’s stock. According to MarketBeat, Consolidated Edison currently has an average rating of “Hold” and an average price target of $101.50.

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.