Tokio Marine Asset Management Co. Ltd. Buys 2,015 Shares of Consolidated Edison, Inc. (NYSE:ED)

Tokio Marine Asset Management Co. Ltd. lifted its stake in Consolidated Edison, Inc. (NYSE:ED) by 25.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 10,082 shares of the utilities provider’s stock after purchasing an additional 2,015 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Consolidated Edison were worth $900,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in ED. Capital Performance Advisors LLP bought a new stake in shares of Consolidated Edison in the third quarter valued at approximately $27,000. AlphaMark Advisors LLC bought a new stake in Consolidated Edison during the fourth quarter worth $27,000. Ashton Thomas Securities LLC bought a new stake in Consolidated Edison during the third quarter worth $30,000. Future Financial Wealth Managment LLC bought a new stake in Consolidated Edison during the third quarter worth $55,000. Finally, FSA Wealth Management LLC bought a new stake in Consolidated Edison during the third quarter worth $55,000. 66.29% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ED. Morgan Stanley cut their target price on Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating for the company in a research note on Friday, November 22nd. Jefferies Financial Group began coverage on Consolidated Edison in a research note on Wednesday, October 9th. They set a “hold” rating and a $108.00 target price for the company. Barclays cut their target price on Consolidated Edison from $99.00 to $92.00 and set an “underweight” rating for the company in a research note on Monday, January 27th. Scotiabank upgraded shares of Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and upped their price target for the stock from $90.00 to $100.00 in a report on Thursday, December 12th. Finally, Evercore ISI downgraded shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 21st. Two equities research analysts have rated the stock with a sell rating, eight 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, the stock currently has a consensus rating of “Hold” and an average price target of $100.00.

Consolidated Edison Stock Performance

NYSE ED opened at $95.76 on Tuesday. The company has a market capitalization of $33.17 billion, a price-to-earnings ratio of 18.03, a PEG ratio of 2.99 and a beta of 0.39. Consolidated Edison, Inc. has a twelve month low of $85.85 and a twelve month high of $107.75. The stock has a fifty day simple moving average of $92.49 and a 200 day simple moving average of $98.14. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings data on Thursday, November 7th. The utilities provider reported $1.68 earnings per share for the quarter, beating analysts’ consensus estimates of $1.56 by $0.12. The business had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $4.02 billion. Consolidated Edison had a return on equity of 8.70% and a net margin of 12.27%. Sell-side analysts expect that Consolidated Edison, Inc. will post 5.35 EPS for the current year.

Consolidated Edison Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Wednesday, February 19th will be issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 3.55%. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.83. The ex-dividend date is Wednesday, February 19th. Consolidated Edison’s dividend payout ratio is presently 62.52%.

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.