O Shaughnessy Asset Management LLC Has $6.02 Million Stake in Consolidated Edison, Inc. (NYSE:ED)

O Shaughnessy Asset Management LLC grew its stake in Consolidated Edison, Inc. (NYSE:ED) by 4.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 67,504 shares of the utilities provider’s stock after purchasing an additional 2,916 shares during the period. O Shaughnessy Asset Management LLC’s holdings in Consolidated Edison were worth $6,023,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. United Bank acquired a new position in Consolidated Edison in the 3rd quarter worth about $227,000. FMR LLC boosted its position in Consolidated Edison by 82.3% during the 3rd quarter. FMR LLC now owns 1,268,424 shares of the utilities provider’s stock worth $132,081,000 after buying an additional 572,530 shares during the period. Townsquare Capital LLC boosted its position in Consolidated Edison by 2.4% during the 3rd quarter. Townsquare Capital LLC now owns 5,574 shares of the utilities provider’s stock worth $580,000 after buying an additional 130 shares during the period. CreativeOne Wealth LLC grew its holdings in Consolidated Edison by 11.9% during the 3rd quarter. CreativeOne Wealth LLC now owns 3,415 shares of the utilities provider’s stock worth $356,000 after acquiring an additional 363 shares during the last quarter. Finally, Verition Fund Management LLC increased its position in Consolidated Edison by 231.1% in the 3rd quarter. Verition Fund Management LLC now owns 15,382 shares of the utilities provider’s stock valued at $1,602,000 after acquiring an additional 10,736 shares during the period. 66.29% of the stock is owned by institutional investors.

Consolidated Edison Stock Down 0.5 %

Shares of NYSE ED opened at $110.07 on Wednesday. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07. The firm has a market cap of $38.17 billion, a PE ratio of 21.01, a P/E/G ratio of 3.05 and a beta of 0.30. The company’s fifty day simple moving average is $100.24 and its 200 day simple moving average is $98.56. Consolidated Edison, Inc. has a 12-month low of $87.28 and a 12-month high of $111.11.

Consolidated Edison (NYSE:ED) last released its quarterly earnings data on Thursday, February 20th. The utilities provider reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.01. Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. The company had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.63 billion. As a group, sell-side 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 disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Wednesday, February 19th were issued a dividend of $0.85 per share. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.83. The ex-dividend date was Wednesday, February 19th. This represents a $3.40 annualized dividend and a dividend yield of 3.09%. Consolidated Edison’s payout ratio is currently 64.89%.

Analyst Ratings Changes

A number of equities analysts have recently commented on ED shares. Scotiabank lifted their price target on shares of Consolidated Edison from $100.00 to $101.00 and gave the stock a “sector perform” rating in a report on Monday, February 24th. Evercore ISI lowered Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 21st. Barclays raised 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. UBS Group upped their target price on Consolidated Edison from $110.00 to $113.00 and gave the company a “neutral” rating in a report on Friday, March 21st. Finally, Morgan Stanley boosted their price target on shares of Consolidated Edison from $85.00 to $91.00 and gave the stock an “underweight” rating in a research report on Thursday, March 20th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Consolidated Edison currently has a consensus rating of “Hold” and an average target price of $102.40.

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.