15,370 Shares in Consolidated Edison, Inc. (NYSE:ED) Purchased by Bryce Point Capital LLC

Bryce Point Capital LLC bought a new stake in shares of Consolidated Edison, Inc. (NYSE:ED) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 15,370 shares of the utilities provider’s stock, valued at approximately $1,371,000.

Several other hedge funds also recently modified their holdings of ED. Vanguard Group Inc. grew its stake in shares of Consolidated Edison by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 42,455,662 shares of the utilities provider’s stock worth $3,788,319,000 after purchasing an additional 488,752 shares during the period. State Street Corp grew its position in shares of 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 during the period. Geode Capital Management LLC increased its stake in shares of Consolidated Edison by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 8,984,022 shares of the utilities provider’s stock valued at $799,684,000 after acquiring an additional 130,234 shares during the last quarter. Norges Bank bought a new stake in shares of Consolidated Edison in the 4th quarter valued at about $399,824,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Consolidated Edison by 3.6% in the 4th 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 period. Institutional investors own 66.29% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on ED. Morgan Stanley upped their target price on shares of Consolidated Edison from $85.00 to $91.00 and gave the company an “underweight” rating in a research note on Thursday, March 20th. Evercore ISI downgraded Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 21st. UBS Group upped their price objective on Consolidated Edison from $110.00 to $113.00 and gave the stock a “neutral” rating in a research report on Friday, March 21st. Barclays lifted their target price on Consolidated Edison from $92.00 to $95.00 and gave the company an “underweight” rating in a research report on Monday, February 24th. Finally, Mizuho upped 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. Two analysts have rated the stock with a sell rating, seven have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $102.40.

Consolidated Edison Stock Performance

NYSE ED opened at $110.07 on Wednesday. The firm has a market capitalization of $38.17 billion, a P/E ratio of 21.01, a price-to-earnings-growth ratio of 3.05 and a beta of 0.30. 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’s fifty day moving average price is $100.24 and its two-hundred day moving average price is $98.56. Consolidated Edison, Inc. has a 1 year low of $87.28 and a 1 year high of $111.11.

Consolidated Edison (NYSE:ED) last issued its earnings results on Thursday, February 20th. The utilities provider reported $0.98 earnings per share (EPS) 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 analysts’ expectations of $3.63 billion. Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. As a group, research analysts anticipate that Consolidated Edison, Inc. will post 5.62 EPS for the current year.

Consolidated Edison Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Wednesday, February 19th were issued a dividend of $0.85 per share. The ex-dividend date of this dividend was Wednesday, February 19th. This is a positive change 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 3.09%. Consolidated Edison’s 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.