TCW Group Inc. Buys 188 Shares of Consolidated Edison, Inc. (NYSE:ED)

TCW Group Inc. boosted its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 1.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,605 shares of the utilities provider’s stock after purchasing an additional 188 shares during the period. TCW Group Inc.’s holdings in Consolidated Edison were worth $1,660,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ED. International Assets Investment Management LLC lifted its position in Consolidated Edison by 10,262.1% during the third quarter. International Assets Investment Management LLC now owns 553,546 shares of the utilities provider’s stock valued at $57,641,000 after purchasing an additional 548,204 shares during the period. Allworth Financial LP raised its position in Consolidated Edison by 3.3% in the third quarter. Allworth Financial LP now owns 5,021 shares of the utilities provider’s stock worth $523,000 after acquiring an additional 161 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in Consolidated Edison by 54.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 119,601 shares of the utilities provider’s stock worth $12,444,000 after acquiring an additional 42,339 shares during the period. NorthCrest Asset Manangement LLC raised its position in Consolidated Edison by 33.0% in the third quarter. NorthCrest Asset Manangement LLC now owns 9,176 shares of the utilities provider’s stock worth $955,000 after acquiring an additional 2,278 shares during the period. Finally, J.W. Cole Advisors Inc. raised its position in Consolidated Edison by 1.1% in the third quarter. J.W. Cole Advisors Inc. now owns 15,017 shares of the utilities provider’s stock worth $1,564,000 after acquiring an additional 165 shares during the period. Institutional investors own 66.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Evercore ISI downgraded shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 21st. Barclays increased their price target on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock an “underweight” rating in a research report on Monday. Mizuho increased their price target on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Scotiabank raised their price objective on shares of Consolidated Edison from $100.00 to $101.00 and gave the company a “sector perform” rating in a research report on Monday. Finally, Morgan Stanley decreased their price objective on shares of Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating on the stock in a research report on Friday, November 22nd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $101.10.

Consolidated Edison Stock Performance

ED opened at $99.66 on Tuesday. The stock has a market capitalization of $34.52 billion, a price-to-earnings ratio of 19.02, a PEG ratio of 3.05 and a beta of 0.39. The company has a fifty day moving average of $92.26 and a 200 day moving average of $97.95. Consolidated Edison, Inc. has a fifty-two week low of $85.85 and a fifty-two week high of $107.75. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01.

Consolidated Edison (NYSE:ED) last posted its 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. Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. The company had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.63 billion. As a group, sell-side analysts forecast that Consolidated Edison, Inc. will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th will be paid a $0.85 dividend. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.83. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date is Wednesday, February 19th. Consolidated Edison’s dividend payout ratio (DPR) is presently 64.89%.

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.