Asset Management One Co. Ltd. Boosts Holdings in Consolidated Edison, Inc. (NYSE:ED)

Asset Management One Co. Ltd. grew its position in Consolidated Edison, Inc. (NYSE:ED) by 3.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 180,823 shares of the utilities provider’s stock after purchasing an additional 5,318 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Consolidated Edison were worth $16,195,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Capital Performance Advisors LLP purchased a new position in shares of Consolidated Edison in the 3rd quarter valued at approximately $27,000. AlphaMark Advisors LLC purchased a new position in shares of Consolidated Edison in the fourth quarter worth $27,000. Ashton Thomas Securities LLC acquired a new stake in shares of Consolidated Edison during the third quarter worth $30,000. CGC Financial Services LLC grew its holdings in shares of Consolidated Edison by 64.0% during the fourth quarter. CGC Financial Services LLC now owns 546 shares of the utilities provider’s stock valued at $49,000 after buying an additional 213 shares during the last quarter. Finally, FSA Wealth Management LLC acquired a new position in shares of Consolidated Edison in the 3rd quarter valued at $55,000. 66.29% of the stock is owned by institutional investors and hedge funds.

Consolidated Edison Trading Down 0.7 %

Shares of Consolidated Edison stock opened at $95.01 on Friday. 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. The company has a market cap of $32.91 billion, a P/E ratio of 17.89, a price-to-earnings-growth ratio of 3.04 and a beta of 0.39. The firm has a 50-day simple moving average of $91.84 and a two-hundred day simple moving average of $98.13.

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 issued a $0.85 dividend. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.83. This represents a $3.40 annualized dividend and a yield of 3.58%. The ex-dividend date is Wednesday, February 19th. Consolidated Edison’s dividend payout ratio (DPR) is presently 62.52%.

Analyst Ratings Changes

ED has been the topic of several research analyst reports. Mizuho boosted their price target on Consolidated Edison from $92.00 to $95.00 and gave the company 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 report on Tuesday, January 21st. Morgan Stanley decreased their price objective 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. Barclays cut their price objective on shares of Consolidated Edison from $99.00 to $92.00 and set an “underweight” rating on the stock in a research note on Monday, January 27th. Finally, Scotiabank upgraded shares of Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and boosted their target price for the company from $90.00 to $100.00 in a research report on Thursday, December 12th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $100.00.

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.