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

Mizuho Securities USA LLC grew its holdings in shares of Consolidated Edison, Inc. (NYSE:ED) by 46.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 32,832 shares of the utilities provider’s stock after acquiring an additional 10,406 shares during the period. Mizuho Securities USA LLC’s holdings in Consolidated Edison were worth $2,930,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Point72 Asset Management L.P. increased its holdings in Consolidated Edison by 1,766.0% in the third quarter. Point72 Asset Management L.P. now owns 988,961 shares of the utilities provider’s stock valued at $102,980,000 after purchasing an additional 935,962 shares during the period. Burkehill Global Management LP bought a new stake in Consolidated Edison in the fourth quarter valued at approximately $53,538,000. FMR LLC increased its position in Consolidated Edison by 82.3% during the 3rd quarter. FMR LLC now owns 1,268,424 shares of the utilities provider’s stock valued at $132,081,000 after purchasing an additional 572,530 shares during the period. National Bank of Canada FI raised its holdings in Consolidated Edison by 350.6% during the 3rd quarter. National Bank of Canada FI now owns 620,705 shares of the utilities provider’s stock worth $64,634,000 after purchasing an additional 482,953 shares during the last quarter. Finally, Jupiter Asset Management Ltd. acquired a new position in shares of Consolidated Edison in the 4th quarter worth approximately $42,916,000. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Stock Down 0.9 %

ED stock opened at $106.87 on Tuesday. 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’s 50 day simple moving average is $98.28 and its 200 day simple moving average is $98.38. The company has a market cap of $37.06 billion, a P/E ratio of 20.40, a price-to-earnings-growth ratio of 3.05 and a beta of 0.30.

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

Consolidated Edison Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Wednesday, February 19th were issued a dividend of $0.85 per share. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.83. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date of this dividend was Wednesday, February 19th. Consolidated Edison’s dividend payout ratio (DPR) is currently 64.89%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ED. Mizuho upped their price objective on shares of Consolidated Edison from $92.00 to $95.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. UBS Group upped their price target on shares of Consolidated Edison from $110.00 to $113.00 and gave the company a “neutral” rating in a research report on Friday. Evercore ISI lowered Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 21st. Scotiabank upped their target price on Consolidated Edison from $100.00 to $101.00 and gave the company a “sector perform” rating in a research report on Monday, February 24th. Finally, Barclays raised their target price on Consolidated Edison from $92.00 to $95.00 and gave the stock an “underweight” rating in a research note on Monday, February 24th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Consolidated Edison presently has an average rating of “Hold” and an average target price of $102.40.

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.