Mizuho Securities USA LLC Purchases 10,406 Shares of Consolidated Edison, Inc. (NYSE:ED)

Mizuho Securities USA LLC grew its holdings in Consolidated Edison, Inc. (NYSE:ED) by 46.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 32,832 shares of the utilities provider’s stock after purchasing an additional 10,406 shares during the period. Mizuho Securities USA LLC’s holdings in Consolidated Edison were worth $2,930,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in ED. State Street Corp lifted its position in Consolidated Edison by 1.7% during the 3rd quarter. State Street Corp now owns 23,429,218 shares of the utilities provider’s stock worth $2,439,684,000 after buying an additional 399,034 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Consolidated Edison by 1.2% in the third quarter. Geode Capital Management LLC now owns 8,853,788 shares of the utilities provider’s stock valued at $919,041,000 after acquiring an additional 107,281 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Consolidated Edison by 3.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,225,989 shares of the utilities provider’s stock valued at $198,625,000 after acquiring an additional 77,323 shares during the last quarter. Amundi raised its holdings in Consolidated Edison by 12.2% during the fourth quarter. Amundi now owns 2,221,729 shares of the utilities provider’s stock worth $197,795,000 after acquiring an additional 242,243 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Consolidated Edison by 4.0% during the third quarter. JPMorgan Chase & Co. now owns 2,145,128 shares of the utilities provider’s stock valued at $223,373,000 after purchasing an additional 82,985 shares during the last quarter. Institutional investors own 66.29% of the company’s stock.

Analyst Ratings Changes

ED has been the topic of several recent analyst reports. Mizuho boosted their price target on Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Barclays boosted their target price 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. UBS Group increased their price target on shares of Consolidated Edison from $110.00 to $113.00 and gave the company a “neutral” rating in a research note on Friday. Scotiabank boosted their price objective on shares of Consolidated Edison from $100.00 to $101.00 and gave the stock a “sector perform” rating in a research note on Monday, February 24th. Finally, Evercore ISI lowered Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 21st. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Consolidated Edison currently has an average rating of “Hold” and a consensus target price of $102.40.

Consolidated Edison Stock Performance

NYSE:ED opened at $106.87 on Tuesday. The company has a market cap of $37.06 billion, a price-to-earnings ratio of 20.40, a PEG ratio of 3.05 and a beta of 0.30. 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 fifty-two week low of $87.16 and a fifty-two week high of $109.36. The stock has a fifty day moving average price of $98.28 and a 200-day moving average price of $98.38.

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

Consolidated Edison Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th were issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date of this dividend was Wednesday, February 19th. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.83. Consolidated Edison’s dividend payout ratio is presently 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.