Consolidated Edison, Inc. (NYSE:ED) Shares Purchased by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC boosted its holdings in Consolidated Edison, Inc. (NYSE:ED) by 102.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 430,279 shares of the utilities provider’s stock after acquiring an additional 217,981 shares during the quarter. Gateway Investment Advisers LLC owned about 0.12% of Consolidated Edison worth $38,394,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Capital Performance Advisors LLP acquired a new stake in shares of Consolidated Edison in the third quarter valued at about $27,000. Ashton Thomas Securities LLC purchased a new position in Consolidated Edison in the third quarter valued at about $30,000. Future Financial Wealth Managment LLC acquired a new stake in shares of Consolidated Edison during the 3rd quarter valued at approximately $55,000. FSA Wealth Management LLC purchased a new stake in shares of Consolidated Edison during the 3rd quarter worth approximately $55,000. Finally, Webster Bank N. A. grew its holdings in shares of Consolidated Edison by 189.5% in the 3rd quarter. Webster Bank N. A. now owns 579 shares of the utilities provider’s stock worth $60,000 after acquiring an additional 379 shares during the period. Institutional investors and hedge funds own 66.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ED. Evercore ISI raised Consolidated Edison from a “hold” rating to a “strong-buy” rating in a report on Friday, November 8th. 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 price target for the company. Barclays lowered their price objective on shares of Consolidated Edison from $104.00 to $99.00 and set an “underweight” rating on the stock in a research note on Friday, November 8th. Morgan Stanley cut their target price on shares of Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating for the company in a research report on Friday, November 22nd. Finally, UBS Group raised 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. Based on data from MarketBeat, Consolidated Edison currently has an average rating of “Hold” and an average price target of $100.64.

Consolidated Edison Trading Up 0.5 %

Shares of Consolidated Edison stock traded up $0.45 during trading hours on Thursday, reaching $90.68. 42,827 shares of the company’s stock were exchanged, compared to its average volume of 1,837,941. Consolidated Edison, Inc. has a 52-week low of $85.85 and a 52-week high of $107.75. The company has a fifty day moving average of $93.72 and a 200-day moving average of $97.90. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.07. The firm has a market capitalization of $31.41 billion, a price-to-earnings ratio of 17.08, a price-to-earnings-growth ratio of 2.81 and a beta of 0.38.

Consolidated Edison (NYSE:ED) last released its earnings results on Thursday, November 7th. The utilities provider reported $1.68 earnings per share for the quarter, topping the consensus estimate of $1.56 by $0.12. The firm had revenue of $4.09 billion for 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 forecast that Consolidated Edison, Inc. will post 5.35 EPS for the current fiscal year.

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.