Aware Super Pty Ltd as trustee of Aware Super Invests $2.78 Million in Consolidated Edison, Inc. (NYSE:ED)

Aware Super Pty Ltd as trustee of Aware Super acquired a new position in shares of Consolidated Edison, Inc. (NYSE:ED - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 31,169 shares of the utilities provider's stock, valued at approximately $2,781,000.

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Several other institutional investors have also recently bought and sold shares of ED. Wilmington Savings Fund Society FSB bought a new position in shares of Consolidated Edison in the 3rd quarter valued at about $776,000. JPMorgan Chase & Co. increased its position in shares of Consolidated Edison by 4.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,145,128 shares of the utilities provider's stock worth $223,373,000 after purchasing an additional 82,985 shares during the last quarter. Hennessy Advisors Inc. raised its stake in shares of Consolidated Edison by 2.8% during the 4th quarter. Hennessy Advisors Inc. now owns 143,136 shares of the utilities provider's stock worth $12,772,000 after purchasing an additional 3,900 shares in the last quarter. Gateway Investment Advisers LLC boosted its holdings in shares of Consolidated Edison by 102.7% in the 4th quarter. Gateway Investment Advisers LLC now owns 430,279 shares of the utilities provider's stock valued at $38,394,000 after buying an additional 217,981 shares during the last quarter. Finally, Jones Financial Companies Lllp increased its stake in shares of Consolidated Edison by 81.4% during the 4th quarter. Jones Financial Companies Lllp now owns 9,921 shares of the utilities provider's stock worth $885,000 after purchasing an additional 4,451 shares during the last quarter. Institutional investors own 66.29% of the company's stock.

Consolidated Edison Price Performance

Shares of NYSE:ED opened at $112.11 on Tuesday. The firm's fifty day moving average is $103.50 and its 200-day moving average is $98.96. Consolidated Edison, Inc. has a 52 week low of $87.28 and a 52 week high of $114.87. The firm has a market cap of $40.38 billion, a PE ratio of 21.40, a price-to-earnings-growth ratio of 3.05 and a beta of 0.27. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01.

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Consolidated Edison (NYSE:ED - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The utilities provider reported $0.98 EPS for the quarter, beating analysts' consensus estimates of $0.97 by $0.01. Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. The business had revenue of $3.67 billion for the quarter, compared to analysts' expectations of $3.63 billion. Sell-side analysts predict that Consolidated Edison, Inc. will post 5.62 earnings per share for the current year.

Consolidated Edison Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Wednesday, February 19th were paid a $0.85 dividend. The ex-dividend date of this dividend was Wednesday, February 19th. This represents a $3.40 annualized dividend and a dividend yield of 3.03%. This is a positive change from Consolidated Edison's previous quarterly dividend of $0.83. Consolidated Edison's payout ratio is currently 64.89%.

Analyst Upgrades and Downgrades

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Several equities research analysts have issued reports on ED shares. Morgan Stanley raised their price objective on shares of Consolidated Edison from $85.00 to $91.00 and gave the stock an "underweight" rating in a research report on Thursday, March 20th. UBS Group raised their price target on Consolidated Edison from $110.00 to $113.00 and gave the stock a "neutral" rating in a research report on Friday, March 21st. Evercore ISI downgraded shares of Consolidated Edison from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, January 21st. Barclays upped their price target on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock an "underweight" rating in a report on Monday, February 24th. Finally, Scotiabank lifted their price objective on shares of Consolidated Edison from $100.00 to $101.00 and gave the company a "sector perform" rating in a research note on Monday, February 24th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $102.80.

Check Out Our Latest Stock Analysis on ED

Consolidated Edison Company 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.

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