International Assets Investment Management LLC Buys 196 Shares of Consolidated Edison, Inc. (NYSE:ED)

International Assets Investment Management LLC boosted its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 3.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,901 shares of the utilities provider’s stock after buying an additional 196 shares during the period. International Assets Investment Management LLC’s holdings in Consolidated Edison were worth $533,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in shares of Consolidated Edison in the 4th quarter worth $243,511,000. Retirement Systems of Alabama increased its holdings in shares of Consolidated Edison by 408.8% in the 4th quarter. Retirement Systems of Alabama now owns 396,849 shares of the utilities provider’s stock worth $36,101,000 after purchasing an additional 318,858 shares in the last quarter. Schonfeld Strategic Advisors LLC grew its holdings in shares of Consolidated Edison by 1,560.1% in the third quarter. Schonfeld Strategic Advisors LLC now owns 301,292 shares of the utilities provider’s stock worth $25,770,000 after acquiring an additional 283,143 shares during the period. Pinebridge Investments L.P. grew its holdings in shares of Consolidated Edison by 56.1% in the fourth quarter. Pinebridge Investments L.P. now owns 702,721 shares of the utilities provider’s stock worth $63,927,000 after acquiring an additional 252,617 shares during the period. Finally, Hsbc Holdings PLC grew its holdings in shares of Consolidated Edison by 11.2% in the fourth quarter. Hsbc Holdings PLC now owns 1,386,743 shares of the utilities provider’s stock worth $126,042,000 after acquiring an additional 139,370 shares during the period. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Price Performance

Shares of NYSE ED opened at $90.34 on Monday. The stock has a market capitalization of $31.24 billion, a price-to-earnings ratio of 17.34, a PEG ratio of 2.29 and a beta of 0.35. Consolidated Edison, Inc. has a 12 month low of $80.46 and a 12 month high of $98.85. The firm’s 50 day simple moving average is $93.56 and its 200-day simple moving average is $91.20. 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 (NYSE:ED) last released its quarterly earnings results on Thursday, May 2nd. The utilities provider reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.26. Consolidated Edison had a net margin of 12.43% and a return on equity of 8.79%. The firm had revenue of $4.28 billion for the quarter, compared to analysts’ expectations of $4.40 billion. During the same quarter last year, the company earned $1.83 EPS. The firm’s revenue for the quarter was down 2.8% compared to the same quarter last year. Analysts expect that Consolidated Edison, Inc. will post 5.34 EPS for the current year.

Consolidated Edison Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Wednesday, May 15th were issued a $0.83 dividend. The ex-dividend date was Tuesday, May 14th. This represents a $3.32 dividend on an annualized basis and a yield of 3.68%. Consolidated Edison’s payout ratio is currently 63.72%.

Analyst Ratings Changes

Several analysts recently commented on the company. Barclays lifted their price objective on Consolidated Edison from $89.00 to $97.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 7th. Mizuho lifted their price objective on Consolidated Edison from $93.00 to $95.00 and gave the stock a “neutral” rating in a report on Tuesday, May 28th. Scotiabank cut their price objective on Consolidated Edison from $91.00 to $85.00 and set a “sector underperform” rating for the company in a report on Monday, April 22nd. Wells Fargo & Company lifted their target price on Consolidated Edison from $93.00 to $97.00 and gave the company an “equal weight” rating in a research report on Friday, May 3rd. Finally, Argus upgraded Consolidated Edison to a “strong-buy” rating in a research report on Friday, June 7th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $89.58.

About Consolidated Edison

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.