Consolidated Edison, Inc. (NYSE:ED) Shares Acquired by TCW Group Inc.

TCW Group Inc. raised its stake in Consolidated Edison, Inc. (NYSE:ED) by 50.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,550 shares of the utilities provider’s stock after purchasing an additional 6,597 shares during the period. TCW Group Inc.’s holdings in Consolidated Edison were worth $1,777,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Commerce Bank increased its position in shares of Consolidated Edison by 14.2% during the fourth quarter. Commerce Bank now owns 36,847 shares of the utilities provider’s stock worth $3,352,000 after purchasing an additional 4,571 shares in the last quarter. US Bancorp DE increased its position in Consolidated Edison by 8.8% during the fourth quarter. US Bancorp DE now owns 64,536 shares of the utilities provider’s stock worth $5,871,000 after buying an additional 5,216 shares during the period. Balboa Wealth Partners purchased a new stake in Consolidated Edison in the fourth quarter valued at approximately $205,000. Tidemark LLC purchased a new stake in Consolidated Edison in the fourth quarter valued at approximately $29,000. Finally, CreativeOne Wealth LLC acquired a new stake in shares of Consolidated Edison in the fourth quarter valued at approximately $258,000. Institutional investors and hedge funds own 66.29% of the company’s stock.

Analyst Ratings Changes

ED has been the subject of several research reports. Wells Fargo & Company upped their price target on shares of Consolidated Edison from $93.00 to $97.00 and gave the company an “equal weight” rating in a research report on Friday, May 3rd. Scotiabank reduced their target price on shares of Consolidated Edison from $91.00 to $85.00 and set a “sector underperform” rating for the company in a report on Monday, April 22nd. Barclays raised their price target on Consolidated Edison from $89.00 to $97.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 7th. Royal Bank of Canada reduced their price objective on Consolidated Edison from $94.00 to $93.00 and set a “sector perform” rating for the company in a research note on Friday, February 16th. Finally, UBS Group lowered their target price on Consolidated Edison from $99.00 to $94.00 and set a “neutral” rating on the stock in a research note on Friday, February 16th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $88.46.

Consolidated Edison Price Performance

Shares of ED stock traded up $0.56 during midday trading on Friday, reaching $94.43. 1,639,105 shares of the company traded hands, compared to its average volume of 2,007,665. The firm’s 50 day simple moving average is $92.60 and its two-hundred day simple moving average is $90.99. The firm has a market cap of $32.66 billion, a PE ratio of 18.12, a price-to-earnings-growth ratio of 2.39 and a beta of 0.34. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.99 and a quick ratio of 0.92. Consolidated Edison, Inc. has a 1-year low of $80.46 and a 1-year high of $98.85.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings data on Thursday, May 2nd. The utilities provider reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.26. The firm had revenue of $4.28 billion during the quarter, compared to analysts’ expectations of $4.40 billion. Consolidated Edison had a return on equity of 8.79% and a net margin of 12.43%. Consolidated Edison’s revenue was down 2.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.83 earnings per share. On average, equities research analysts expect that Consolidated Edison, Inc. will post 5.34 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Wednesday, May 15th will be issued a dividend of $0.83 per share. The ex-dividend date is Tuesday, May 14th. This represents a $3.32 annualized dividend and a yield of 3.52%. Consolidated Edison’s dividend payout ratio (DPR) is currently 63.72%.

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.