Empowered Funds LLC Has $602,000 Position in Consolidated Edison, Inc. (NYSE:ED)

Empowered Funds LLC lifted its position in shares of Consolidated Edison, Inc. (NYSE:ED) by 7.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,785 shares of the utilities provider’s stock after buying an additional 409 shares during the period. Empowered Funds LLC’s holdings in Consolidated Edison were worth $602,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Advisors Asset Management Inc. boosted its holdings in shares of Consolidated Edison by 7.2% during the 1st quarter. Advisors Asset Management Inc. now owns 17,047 shares of the utilities provider’s stock worth $1,548,000 after buying an additional 1,138 shares during the period. Quadrature Capital Ltd increased its position in Consolidated Edison by 43.1% during the 1st quarter. Quadrature Capital Ltd now owns 7,007 shares of the utilities provider’s stock valued at $636,000 after purchasing an additional 2,112 shares during the period. LRI Investments LLC acquired a new position in shares of Consolidated Edison in the 1st quarter valued at about $80,000. Bayesian Capital Management LP acquired a new stake in shares of Consolidated Edison in the 1st quarter valued at about $287,000. Finally, California State Teachers Retirement System raised its holdings in shares of Consolidated Edison by 3.6% in the 1st quarter. California State Teachers Retirement System now owns 622,517 shares of the utilities provider’s stock worth $56,531,000 after acquiring an additional 21,507 shares during the last quarter. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Price Performance

Shares of ED opened at $98.36 on Monday. The company has a market capitalization of $34.07 billion, a P/E ratio of 18.52, a price-to-earnings-growth ratio of 3.32 and a beta of 0.36. 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, Inc. has a twelve month low of $85.85 and a twelve month high of $107.75. The firm has a 50 day moving average of $102.01 and a 200 day moving average of $98.09.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings data on Thursday, November 7th. The utilities provider reported $1.68 EPS for the quarter, topping the consensus estimate of $1.56 by $0.12. The company had revenue of $4.09 billion during the quarter, compared to analyst estimates of $4.02 billion. Consolidated Edison had a return on equity of 8.70% and a net margin of 12.27%. As a group, equities research analysts anticipate that Consolidated Edison, Inc. will post 5.33 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Wednesday, November 13th will be issued a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date is Wednesday, November 13th. Consolidated Edison’s dividend payout ratio (DPR) is currently 62.52%.

Analysts Set New Price Targets

Several research firms have weighed in on ED. Citigroup raised Consolidated Edison from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $103.00 to $116.00 in a research report on Tuesday, October 15th. Wells Fargo & Company lifted their price objective on shares of Consolidated Edison from $97.00 to $105.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. Morgan Stanley reduced their target price on shares of Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating on the stock in a report on Friday. Barclays lowered their price target on shares of Consolidated Edison from $104.00 to $99.00 and set an “underweight” rating for the company in a report on Friday, November 8th. Finally, Guggenheim lifted their price target on shares of Consolidated Edison from $88.00 to $91.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Four analysts have rated the stock with a sell rating, eight have given a hold rating, two have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $98.19.

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.