NEOS Investment Management LLC Has $1.86 Million Stock Holdings in Consolidated Edison, Inc. (NYSE:ED)

NEOS Investment Management LLC lifted its holdings in shares of Consolidated Edison, Inc. (NYSE:ED) by 31.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 20,786 shares of the utilities provider’s stock after buying an additional 4,978 shares during the period. NEOS Investment Management LLC’s holdings in Consolidated Edison were worth $1,855,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Wilmington Savings Fund Society FSB acquired a new stake in Consolidated Edison in the third quarter valued at approximately $776,000. JPMorgan Chase & Co. lifted its stake in shares of Consolidated Edison by 4.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,145,128 shares of the utilities provider’s stock valued at $223,373,000 after acquiring an additional 82,985 shares during the last quarter. Hennessy Advisors Inc. boosted its holdings in shares of Consolidated Edison by 2.8% during the 4th quarter. Hennessy Advisors Inc. now owns 143,136 shares of the utilities provider’s stock valued at $12,772,000 after acquiring an additional 3,900 shares in the last quarter. Gateway Investment Advisers LLC grew its position in Consolidated Edison by 102.7% during the 4th quarter. Gateway Investment Advisers LLC now owns 430,279 shares of the utilities provider’s stock worth $38,394,000 after acquiring an additional 217,981 shares during the last quarter. Finally, Jones Financial Companies Lllp increased its holdings in Consolidated Edison by 81.4% in the 4th quarter. Jones Financial Companies Lllp now owns 9,921 shares of the utilities provider’s stock worth $885,000 after purchasing an additional 4,451 shares in the last quarter. 66.29% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Evercore ISI lowered Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 21st. 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 report on Monday, February 3rd. UBS Group raised their price target on shares of Consolidated Edison from $110.00 to $113.00 and gave the company a “neutral” rating in a research note on Friday, March 21st. Barclays boosted their price objective 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. Finally, Morgan Stanley raised their target price on Consolidated Edison from $85.00 to $91.00 and gave the stock an “underweight” rating in a research report on Thursday, March 20th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Consolidated Edison presently has a consensus rating of “Hold” and a consensus target price of $102.40.

Consolidated Edison Trading Up 0.9 %

NYSE:ED opened at $108.81 on Friday. Consolidated Edison, Inc. has a 12 month low of $87.28 and a 12 month high of $109.44. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.07. The stock has a market capitalization of $37.73 billion, a price-to-earnings ratio of 20.77, a PEG ratio of 3.05 and a beta of 0.30. The firm has a fifty day simple moving average of $99.56 and a two-hundred day simple moving average of $98.56.

Consolidated Edison (NYSE:ED) last issued its earnings results on Thursday, February 20th. The utilities provider reported $0.98 EPS 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 company had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.63 billion. Analysts expect that Consolidated Edison, Inc. will post 5.62 EPS for the current fiscal year.

Consolidated Edison Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Wednesday, February 19th were given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.12%. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.83. The ex-dividend date was Wednesday, February 19th. Consolidated Edison’s dividend payout ratio is presently 64.89%.

About Consolidated Edison

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.