10,643 Shares in Consolidated Edison, Inc. (NYSE:ED) Purchased by Allstate Corp

Allstate Corp acquired a new position in shares of Consolidated Edison, Inc. (NYSE:ED) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 10,643 shares of the utilities provider’s stock, valued at approximately $950,000.

Several other hedge funds have also added to or reduced their stakes in the stock. AlphaMark Advisors LLC purchased a new position in shares of Consolidated Edison during the 4th quarter valued at $27,000. OFI Invest Asset Management purchased a new stake in Consolidated Edison during the fourth quarter valued at about $35,000. Fairway Wealth LLC bought a new position in Consolidated Edison during the fourth quarter worth about $36,000. Centricity Wealth Management LLC purchased a new position in shares of Consolidated Edison in the fourth quarter worth about $39,000. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of Consolidated Edison in the fourth quarter valued at approximately $44,000. Institutional investors own 66.29% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on ED shares. Barclays raised their price objective 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. Scotiabank raised their price target on Consolidated Edison from $100.00 to $101.00 and gave the stock a “sector perform” rating in a report on Monday, February 24th. UBS Group boosted their price objective on Consolidated Edison from $110.00 to $113.00 and gave the company a “neutral” rating in a research note on Friday, March 21st. Mizuho raised their target price on Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Finally, Morgan Stanley upped their price target on Consolidated Edison from $85.00 to $91.00 and gave the company an “underweight” rating in a research report on Thursday, March 20th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Consolidated Edison presently has a consensus rating of “Hold” and an average price target of $102.40.

Consolidated Edison Stock Up 1.8 %

Shares of ED opened at $110.69 on Tuesday. The firm has a market cap of $38.38 billion, a P/E ratio of 21.12, a P/E/G 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 $111.14. The stock has a 50 day simple moving average of $99.90 and a two-hundred day simple moving average of $98.53. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93.

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

Consolidated Edison Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th were given a dividend of $0.85 per share. The ex-dividend date was Wednesday, February 19th. This represents a $3.40 annualized dividend and a yield of 3.07%. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.83. Consolidated Edison’s dividend payout ratio is presently 64.89%.

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.