Candriam S.C.A. Has $8.21 Million Holdings in Consolidated Edison, Inc. (NYSE:ED)

Candriam S.C.A. decreased its holdings in Consolidated Edison, Inc. (NYSE:ED) by 76.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 91,949 shares of the utilities provider’s stock after selling 299,806 shares during the period. Candriam S.C.A.’s holdings in Consolidated Edison were worth $8,205,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. TD Private Client Wealth LLC boosted its position in shares of Consolidated Edison by 4.7% in the third quarter. TD Private Client Wealth LLC now owns 2,334 shares of the utilities provider’s stock valued at $243,000 after acquiring an additional 104 shares during the period. Jacobi Capital Management LLC raised its stake in shares of Consolidated Edison by 4.2% in the fourth quarter. Jacobi Capital Management LLC now owns 2,569 shares of the utilities provider’s stock valued at $229,000 after purchasing an additional 104 shares in the last quarter. D.A. Davidson & CO. raised its stake in shares of Consolidated Edison by 1.1% in the third quarter. D.A. Davidson & CO. now owns 11,142 shares of the utilities provider’s stock valued at $1,160,000 after purchasing an additional 124 shares in the last quarter. Townsquare Capital LLC raised its stake in shares of Consolidated Edison by 2.4% in the third quarter. Townsquare Capital LLC now owns 5,574 shares of the utilities provider’s stock valued at $580,000 after purchasing an additional 130 shares in the last quarter. Finally, Trust Point Inc. raised its stake in shares of Consolidated Edison by 4.9% in the fourth quarter. Trust Point Inc. now owns 2,790 shares of the utilities provider’s stock valued at $249,000 after purchasing an additional 131 shares in the last quarter. Institutional investors own 66.29% of the company’s stock.

Analyst Upgrades and Downgrades

ED has been the subject of a number of recent research reports. UBS Group upped their target price on Consolidated Edison from $105.00 to $110.00 and gave the company a “neutral” rating in a research note on Tuesday, February 25th. Mizuho upped their target price on Consolidated Edison from $92.00 to $95.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Barclays increased their price objective on Consolidated Edison from $92.00 to $95.00 and gave the stock an “underweight” rating in a research note on Monday, February 24th. Scotiabank increased their price objective on Consolidated Edison from $100.00 to $101.00 and gave the stock a “sector perform” rating in a research note on Monday, February 24th. Finally, Morgan Stanley dropped their price objective on Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating for the company in a research note on Friday, November 22nd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Consolidated Edison currently has an average rating of “Hold” and an average target price of $101.50.

Consolidated Edison Stock Performance

Shares of NYSE ED opened at $103.73 on Friday. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.07. Consolidated Edison, Inc. has a 12 month low of $87.16 and a 12 month high of $107.75. The stock has a 50 day moving average of $94.39 and a 200-day moving average of $98.04. The company has a market capitalization of $35.97 billion, a P/E ratio of 19.80, a P/E/G ratio of 3.05 and a beta of 0.39.

Consolidated Edison (NYSE:ED) last released its quarterly earnings results on Thursday, February 20th. The utilities provider reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.01. The business had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.63 billion. Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. As a group, equities research analysts predict that Consolidated Edison, Inc. will post 5.62 EPS for the current year.

Consolidated Edison Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Wednesday, February 19th will be paid a $0.85 dividend. The ex-dividend date is Wednesday, February 19th. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.83. This represents a $3.40 annualized dividend and a yield of 3.28%. Consolidated Edison’s payout ratio is 64.89%.

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.