Consolidated Edison, Inc. (NYSE:ED) Shares Acquired by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP raised its holdings in shares of Consolidated Edison, Inc. (NYSE:ED) by 11.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,273,115 shares of the utilities provider’s stock after purchasing an additional 125,859 shares during the period. Dimensional Fund Advisors LP owned 0.37% of Consolidated Edison worth $113,845,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in ED. ProShare Advisors LLC increased its position in shares of Consolidated Edison by 6.6% in the 1st quarter. ProShare Advisors LLC now owns 2,000,741 shares of the utilities provider’s stock valued at $181,687,000 after acquiring an additional 123,654 shares during the period. Hsbc Holdings PLC increased its position in shares of Consolidated Edison by 11.2% in the 4th quarter. Hsbc Holdings PLC now owns 1,386,743 shares of the utilities provider’s stock valued at $126,042,000 after acquiring an additional 139,370 shares during the period. BNP Paribas Financial Markets increased its position in shares of Consolidated Edison by 14.6% in the 1st quarter. BNP Paribas Financial Markets now owns 720,573 shares of the utilities provider’s stock valued at $65,435,000 after acquiring an additional 91,559 shares during the period. Acadian Asset Management LLC increased its position in shares of Consolidated Edison by 302.3% in the 2nd quarter. Acadian Asset Management LLC now owns 709,172 shares of the utilities provider’s stock valued at $63,396,000 after acquiring an additional 532,893 shares during the period. Finally, Pinebridge Investments L.P. increased its position in shares of Consolidated Edison by 56.1% in the 4th quarter. Pinebridge Investments L.P. now owns 702,721 shares of the utilities provider’s stock valued at $63,927,000 after acquiring an additional 252,617 shares during the period. 66.29% of the stock is owned by institutional investors and hedge funds.

Consolidated Edison Stock Up 0.6 %

ED opened at $104.02 on Tuesday. Consolidated Edison, Inc. has a twelve month low of $80.46 and a twelve month high of $105.99. The company has a quick ratio of 0.97, a current ratio of 1.04 and a debt-to-equity ratio of 1.08. The company has a 50-day moving average price of $100.36 and a 200 day moving average price of $94.79. The company has a market cap of $35.97 billion, a PE ratio of 19.97, a price-to-earnings-growth ratio of 3.50 and a beta of 0.36.

Consolidated Edison (NYSE:ED) last released its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.02. Consolidated Edison had a net margin of 12.03% and a return on equity of 8.67%. The firm had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.08 billion. During the same quarter in the prior year, the firm earned $0.61 EPS. Sell-side analysts expect that Consolidated Edison, Inc. will post 5.31 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Wednesday, August 14th were given a dividend of $0.83 per share. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $3.32 annualized dividend and a dividend yield of 3.19%. Consolidated Edison’s dividend payout ratio (DPR) is presently 63.72%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ED. Guggenheim upped their target price on Consolidated Edison from $88.00 to $91.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Wells Fargo & Company upped their price target on shares of Consolidated Edison from $97.00 to $105.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. Mizuho upped their price target on shares of Consolidated Edison from $93.00 to $95.00 and gave the company a “neutral” rating in a report on Tuesday, May 28th. Bank of America upped their price target on shares of Consolidated Edison from $97.00 to $109.00 and gave the company a “buy” rating in a report on Monday, August 5th. Finally, Barclays upped their price target on shares of Consolidated Edison from $92.00 to $98.00 and gave the company an “underweight” rating in a report on Monday, August 5th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $93.42.

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.