Rosenberg Matthew Hamilton Decreases Stock Position in Consolidated Edison, Inc. (NYSE:ED)

Rosenberg Matthew Hamilton decreased its position in shares of Consolidated Edison, Inc. (NYSE:ED) by 9.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,649 shares of the utilities provider’s stock after selling 166 shares during the period. Rosenberg Matthew Hamilton’s holdings in Consolidated Edison were worth $147,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. BOKF NA increased its stake in Consolidated Edison by 88.3% in the 2nd quarter. BOKF NA now owns 5,083 shares of the utilities provider’s stock worth $455,000 after acquiring an additional 2,384 shares during the last quarter. Oppenheimer & Co. Inc. grew its holdings in shares of Consolidated Edison by 3.0% in the second quarter. Oppenheimer & Co. Inc. now owns 22,188 shares of the utilities provider’s stock valued at $1,984,000 after purchasing an additional 655 shares in the last quarter. Parallel Advisors LLC increased its position in Consolidated Edison by 12.1% in the second quarter. Parallel Advisors LLC now owns 8,032 shares of the utilities provider’s stock worth $718,000 after purchasing an additional 869 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Consolidated Edison by 11.0% during the second quarter. Dimensional Fund Advisors LP now owns 1,273,115 shares of the utilities provider’s stock valued at $113,845,000 after purchasing an additional 125,859 shares in the last quarter. Finally, Mesirow Financial Investment Management Inc. lifted its position in Consolidated Edison by 7.0% during the second quarter. Mesirow Financial Investment Management Inc. now owns 10,659 shares of the utilities provider’s stock valued at $953,000 after purchasing an additional 697 shares during the last quarter. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Consolidated Edison Stock Performance

Shares of NYSE:ED opened at $89.28 on Wednesday. The firm’s 50 day simple moving average is $93.72 and its 200-day simple moving average is $97.90. 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, Inc. has a one year low of $85.85 and a one year high of $107.75. The firm has a market cap of $30.93 billion, a PE ratio of 16.81, a price-to-earnings-growth ratio of 3.11 and a beta of 0.38.

Consolidated Edison (NYSE:ED) last released its quarterly earnings data on Thursday, November 7th. The utilities provider reported $1.68 EPS for the quarter, topping the consensus estimate of $1.56 by $0.12. Consolidated Edison had a return on equity of 8.70% and a net margin of 12.27%. The company had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $4.02 billion. As a group, equities analysts predict that Consolidated Edison, Inc. will post 5.34 EPS for the current year.

Consolidated Edison Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Wednesday, November 13th were given a dividend of $0.83 per share. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $3.32 annualized dividend and a yield of 3.72%. Consolidated Edison’s dividend payout ratio (DPR) is presently 62.52%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on ED shares. Barclays reduced their target price on shares of Consolidated Edison from $104.00 to $99.00 and set an “underweight” rating on the stock in a report on Friday, November 8th. Evercore ISI upgraded Consolidated Edison from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 8th. Citigroup upgraded Consolidated Edison from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $103.00 to $116.00 in a report on Tuesday, October 15th. Jefferies Financial Group began coverage on Consolidated Edison in a report on Wednesday, October 9th. They set a “hold” rating and a $108.00 price target on the stock. Finally, UBS Group lifted their price objective on shares of Consolidated Edison from $105.00 to $106.00 and gave the stock a “neutral” rating in a research note on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Consolidated Edison currently has a consensus rating of “Hold” and an average price target of $100.64.

Consolidated Edison Company 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.