Twin Capital Management Inc. Grows Stock Holdings in Consolidated Edison, Inc. (NYSE:ED)

Twin Capital Management Inc. grew its holdings in Consolidated Edison, Inc. (NYSE:ED) by 0.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 44,114 shares of the utilities provider’s stock after acquiring an additional 220 shares during the period. Twin Capital Management Inc.’s holdings in Consolidated Edison were worth $3,936,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB acquired a new stake in shares of Consolidated Edison in the third quarter valued at about $776,000. JPMorgan Chase & Co. increased its holdings 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 worth $223,373,000 after purchasing an additional 82,985 shares during the last quarter. Hennessy Advisors Inc. raised its holdings in Consolidated Edison by 2.8% in the fourth quarter. Hennessy Advisors Inc. now owns 143,136 shares of the utilities provider’s stock valued at $12,772,000 after acquiring an additional 3,900 shares in the last quarter. Gateway Investment Advisers LLC raised its stake 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 valued at $38,394,000 after purchasing an additional 217,981 shares in the last quarter. Finally, Jones Financial Companies Lllp lifted its position in shares of Consolidated Edison by 81.4% during the fourth quarter. Jones Financial Companies Lllp now owns 9,921 shares of the utilities provider’s stock worth $885,000 after purchasing an additional 4,451 shares during the last quarter. 66.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Morgan Stanley upped their price objective on Consolidated Edison from $85.00 to $91.00 and gave the company an “underweight” rating in a research note on Thursday, March 20th. Evercore ISI lowered shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 21st. Scotiabank lifted their price target on shares of Consolidated Edison from $100.00 to $101.00 and gave the company a “sector perform” rating in a report on Monday, February 24th. Barclays increased their price objective on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock an “underweight” rating in a research note on Monday, February 24th. Finally, UBS Group lifted their target price on Consolidated Edison from $110.00 to $113.00 and gave the company a “neutral” rating in a research note on Friday, March 21st. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $102.40.

Consolidated Edison Stock Performance

Shares of NYSE ED opened at $109.53 on Monday. Consolidated Edison, Inc. has a 12-month low of $87.28 and a 12-month high of $114.87. The company has a market cap of $39.45 billion, a PE ratio of 20.90, a P/E/G ratio of 3.05 and a beta of 0.27. The stock has a 50 day simple moving average of $101.43 and a 200-day simple moving average of $98.70. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.07.

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

Consolidated Edison Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Wednesday, February 19th were given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date was Wednesday, February 19th. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.83. Consolidated Edison’s dividend payout ratio is currently 64.89%.

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.