Diversified Trust Co Raises Holdings in Consolidated Edison, Inc. (NYSE:ED)

Diversified Trust Co lifted its position in Consolidated Edison, Inc. (NYSE:ED) by 0.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 44,317 shares of the utilities provider’s stock after purchasing an additional 138 shares during the quarter. Diversified Trust Co’s holdings in Consolidated Edison were worth $3,954,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. National Bank of Canada FI raised its position in Consolidated Edison by 20.9% in the 2nd quarter. National Bank of Canada FI now owns 137,752 shares of the utilities provider’s stock valued at $12,233,000 after purchasing an additional 23,850 shares during the last quarter. Victory Capital Management Inc. raised its stake in Consolidated Edison by 12.6% during the 2nd quarter. Victory Capital Management Inc. now owns 672,211 shares of the utilities provider’s stock valued at $60,109,000 after acquiring an additional 75,443 shares during the last quarter. Acadian Asset Management LLC grew its stake in shares of Consolidated Edison by 302.3% in the 2nd quarter. Acadian Asset Management LLC now owns 709,172 shares of the utilities provider’s stock valued at $63,396,000 after purchasing an additional 532,893 shares during the last quarter. First Foundation Advisors acquired a new position in shares of Consolidated Edison in the second quarter valued at approximately $207,000. Finally, PFG Investments LLC lifted its holdings in shares of Consolidated Edison by 0.3% during the second quarter. PFG Investments LLC now owns 62,402 shares of the utilities provider’s stock worth $5,580,000 after purchasing an additional 165 shares during the period. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Consolidated Edison Trading Down 0.0 %

NYSE:ED traded down $0.02 on Tuesday, reaching $88.35. The stock had a trading volume of 408,900 shares, compared to its average volume of 1,454,601. Consolidated Edison, Inc. has a 12-month low of $85.85 and a 12-month high of $107.75. The company has a market cap of $30.61 billion, a price-to-earnings ratio of 16.64, a P/E/G ratio of 3.11 and a beta of 0.38. The firm’s fifty day moving average is $95.21 and its two-hundred day moving average is $97.96. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings data on Thursday, November 7th. The utilities provider reported $1.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.56 by $0.12. The business had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $4.02 billion. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.70%. Equities analysts expect that Consolidated Edison, Inc. will post 5.34 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Wednesday, November 13th were given a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.76%. The ex-dividend date of this dividend was Wednesday, November 13th. Consolidated Edison’s dividend payout ratio is currently 62.52%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ED. Scotiabank upgraded shares of Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and upped their price objective for the stock from $90.00 to $100.00 in a research report on Thursday, December 12th. Jefferies Financial Group assumed coverage on Consolidated Edison in a report on Wednesday, October 9th. They issued a “hold” rating and a $108.00 price objective on the stock. UBS Group boosted their target price on Consolidated Edison from $105.00 to $106.00 and gave the stock a “neutral” rating in a research report on Friday, September 20th. Barclays reduced their price target on Consolidated Edison from $104.00 to $99.00 and set an “underweight” rating for the company in a report on Friday, November 8th. Finally, Morgan Stanley reduced their target price on Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating for the company in a 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 two have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $100.64.

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.