Carret Asset Management LLC Has $1.03 Million Stake in Consolidated Edison, Inc. (NYSE:ED)

Carret Asset Management LLC decreased its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 3.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 11,499 shares of the utilities provider’s stock after selling 458 shares during the quarter. Carret Asset Management LLC’s holdings in Consolidated Edison were worth $1,026,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Point72 Asset Management L.P. grew its position in Consolidated Edison by 1,766.0% in the 3rd quarter. Point72 Asset Management L.P. now owns 988,961 shares of the utilities provider’s stock valued at $102,980,000 after purchasing an additional 935,962 shares during the period. Burkehill Global Management LP acquired a new stake in Consolidated Edison in the 4th quarter valued at $53,538,000. FMR LLC grew its position in Consolidated Edison by 82.3% in the 3rd quarter. FMR LLC now owns 1,268,424 shares of the utilities provider’s stock valued at $132,081,000 after purchasing an additional 572,530 shares during the period. National Bank of Canada FI grew its position in Consolidated Edison by 350.6% in the 3rd quarter. National Bank of Canada FI now owns 620,705 shares of the utilities provider’s stock valued at $64,634,000 after purchasing an additional 482,953 shares during the period. Finally, Jupiter Asset Management Ltd. acquired a new stake in Consolidated Edison in the 4th quarter valued at $42,916,000. Institutional investors and hedge funds own 66.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Evercore ISI cut Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 21st. Mizuho raised their price objective on Consolidated Edison from $92.00 to $95.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Morgan Stanley dropped their price objective on Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating on the stock in a research note on Friday, November 22nd. Scotiabank raised their price objective on Consolidated Edison from $100.00 to $101.00 and gave the company a “sector perform” rating in a research note on Monday, February 24th. Finally, UBS Group raised their price objective on Consolidated Edison from $105.00 to $110.00 and gave the company a “neutral” rating in a research note on Tuesday, February 25th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $101.50.

Consolidated Edison Trading Up 1.9 %

NYSE ED opened at $106.60 on Friday. The stock has a market capitalization of $36.97 billion, a price-to-earnings ratio of 20.34, a PEG ratio of 3.05 and a beta of 0.30. Consolidated Edison, Inc. has a one year low of $87.16 and a one year high of $107.97. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93. The business’s fifty day moving average is $95.96 and its 200-day moving average is $98.19.

Consolidated Edison (NYSE:ED) last released its earnings results on Thursday, February 20th. The utilities provider reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.01. The company had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.63 billion. Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. 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 disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Wednesday, February 19th were 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 yield of 3.19%. The ex-dividend date was Wednesday, February 19th. Consolidated Edison’s payout ratio is currently 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.