Consolidated Edison, Inc. (NYSE:ED) Shares Purchased by Loring Wolcott & Coolidge Fiduciary Advisors LLP MA

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Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its holdings in Consolidated Edison, Inc. (NYSE:ED) by 14.8% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,100 shares of the utilities provider’s stock after purchasing an additional 400 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Consolidated Edison were worth $280,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. BlackRock Inc. lifted its stake in Consolidated Edison by 7.5% in the second quarter. BlackRock Inc. now owns 31,370,484 shares of the utilities provider’s stock worth $2,750,563,000 after acquiring an additional 2,198,264 shares during the last quarter. Nuveen Asset Management LLC lifted its stake in Consolidated Edison by 2,416.3% in the second quarter. Nuveen Asset Management LLC now owns 1,501,642 shares of the utilities provider’s stock worth $131,665,000 after acquiring an additional 1,441,965 shares during the last quarter. Luminus Management LLC purchased a new position in Consolidated Edison in the second quarter worth approximately $63,060,000. State Street Corp lifted its stake in Consolidated Edison by 1.5% in the third quarter. State Street Corp now owns 21,918,213 shares of the utilities provider’s stock worth $2,070,614,000 after acquiring an additional 326,946 shares during the last quarter. Finally, California Public Employees Retirement System lifted its stake in Consolidated Edison by 13.8% in the second quarter. California Public Employees Retirement System now owns 2,420,574 shares of the utilities provider’s stock worth $212,236,000 after acquiring an additional 294,167 shares during the last quarter. Hedge funds and other institutional investors own 59.94% of the company’s stock.

ED has been the subject of a number of recent research reports. Bank of America lifted their price target on shares of Consolidated Edison from $92.00 to $94.00 and gave the stock a “neutral” rating in a research note on Friday, December 20th. Citigroup dropped their price objective on shares of Consolidated Edison from $94.00 to $89.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. UBS Group lowered their price target on shares of Consolidated Edison from $98.00 to $96.00 and set a “neutral” rating on the stock in a research note on Friday, December 20th. KeyCorp decreased their price objective on shares of Consolidated Edison from $100.00 to $92.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Finally, Guggenheim lowered shares of Consolidated Edison from a “neutral” rating to a “sell” rating in a research report on Tuesday, January 7th. Five analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. Consolidated Edison presently has a consensus rating of “Hold” and a consensus target price of $90.73.

NYSE:ED opened at $92.77 on Friday. The firm has a market cap of $30.30 billion, a price-to-earnings ratio of 21.88, a price-to-earnings-growth ratio of 10.15 and a beta of 0.04. The company has a current ratio of 0.58, a quick ratio of 0.52 and a debt-to-equity ratio of 1.01. The company’s 50-day moving average is $88.85 and its two-hundred day moving average is $89.16. Consolidated Edison, Inc. has a 12-month low of $75.25 and a 12-month high of $94.97.

Consolidated Edison (NYSE:ED) last released its earnings results on Monday, November 4th. The utilities provider reported $1.54 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.58 by ($0.04). The firm had revenue of $3.37 billion during the quarter, compared to analysts’ expectations of $3.50 billion. Consolidated Edison had a net margin of 10.98% and a return on equity of 7.92%. During the same quarter last year, the company posted $1.57 earnings per share. On average, equities research analysts forecast that Consolidated Edison, Inc. will post 4.31 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Wednesday, February 19th will be issued a dividend of $0.765 per share. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.74. This represents a $3.06 annualized dividend and a dividend yield of 3.30%. The ex-dividend date is Tuesday, February 18th. Consolidated Edison’s dividend payout ratio is presently 68.52%.

Consolidated Edison Profile

Consolidated Edison, Inc, through its subsidiaries, engages in regulated electric, gas, and steam delivery businesses in the United States. The company offers electric services to approximately 3.5 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 1,622 customers in parts of Manhattan.

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Institutional Ownership by Quarter for Consolidated Edison (NYSE:ED)

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