Sei Investments Co. Grows Stock Position in Consolidated Edison, Inc. (NYSE:ED)

Sei Investments Co. grew its position in shares of Consolidated Edison, Inc. (NYSE:ED) by 21.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 97,892 shares of the utilities provider’s stock after purchasing an additional 17,147 shares during the period. Sei Investments Co.’s holdings in Consolidated Edison were worth $8,736,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in ED. Wilmington Savings Fund Society FSB acquired a new position in Consolidated Edison in the 3rd quarter worth $776,000. JPMorgan Chase & Co. grew its stake in Consolidated Edison by 4.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,145,128 shares of the utilities provider’s stock valued at $223,373,000 after purchasing an additional 82,985 shares in the last quarter. Hennessy Advisors Inc. increased its stake in shares of Consolidated Edison by 2.8% in the fourth quarter. Hennessy Advisors Inc. now owns 143,136 shares of the utilities provider’s stock worth $12,772,000 after buying an additional 3,900 shares during the last quarter. Gateway Investment Advisers LLC increased its position 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 worth $38,394,000 after purchasing an additional 217,981 shares during the last quarter. Finally, Jones Financial Companies Lllp raised its stake in shares of Consolidated Edison by 81.4% in the 4th quarter. Jones Financial Companies Lllp now owns 9,921 shares of the utilities provider’s stock valued at $885,000 after purchasing an additional 4,451 shares in the last quarter. 66.29% of the stock is owned by institutional investors and hedge funds.

Consolidated Edison Trading Up 0.9 %

Shares of NYSE:ED opened at $108.81 on Monday. The stock has a market capitalization of $37.73 billion, a price-to-earnings ratio of 20.77, a PEG ratio of 3.05 and a beta of 0.30. Consolidated Edison, Inc. has a 1-year low of $87.28 and a 1-year high of $109.44. The company has a 50 day moving average price of $99.56 and a 200 day moving average price of $98.47. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01.

Consolidated Edison (NYSE:ED) last released its quarterly earnings data on Thursday, February 20th. The utilities provider reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.01. The business had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.63 billion. Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. On average, research analysts anticipate that Consolidated Edison, Inc. will post 5.62 EPS for the current fiscal year.

Consolidated Edison Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th were issued a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 3.12%. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend was Wednesday, February 19th. Consolidated Edison’s dividend payout ratio (DPR) is presently 64.89%.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Mizuho lifted their target price on Consolidated Edison from $92.00 to $95.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Barclays boosted their price objective on Consolidated Edison from $92.00 to $95.00 and gave the stock an “underweight” rating in a research report on Monday, February 24th. Evercore ISI cut Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 21st. UBS Group raised their price target on Consolidated Edison from $110.00 to $113.00 and gave the company a “neutral” rating in a report on Friday, March 21st. Finally, Scotiabank boosted their price target on shares of Consolidated Edison from $100.00 to $101.00 and gave the stock a “sector perform” rating in a research report on Monday, February 24th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Consolidated Edison presently has a consensus rating of “Hold” and a consensus price target of $102.40.

Consolidated Edison 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.