Mutual of America Capital Management LLC increased its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 3.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 56,594 shares of the utilities provider’s stock after purchasing an additional 1,954 shares during the period. Mutual of America Capital Management LLC’s holdings in Consolidated Edison were worth $4,808,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in ED. WFG Advisors LP raised its position in shares of Consolidated Edison by 19.6% during the 2nd quarter. WFG Advisors LP now owns 1,308 shares of the utilities provider’s stock worth $106,000 after purchasing an additional 214 shares during the last quarter. AllSquare Wealth Management LLC acquired a new position in shares of Consolidated Edison during the 3rd quarter worth about $113,000. Asset Dedication LLC acquired a new stake in Consolidated Edison in the 4th quarter valued at about $183,000. Round Table Services LLC acquired a new stake in Consolidated Edison in the 4th quarter valued at about $200,000. Finally, Tower Bridge Advisors acquired a new stake in Consolidated Edison in the 3rd quarter valued at about $208,000. Hedge funds and other institutional investors own 56.02% of the company’s stock.
A number of analysts have commented on ED shares. Zacks Investment Research downgraded shares of Consolidated Edison from a “buy” rating to a “hold” rating in a report on Thursday, January 4th. KeyCorp reiterated a “hold” rating on shares of Consolidated Edison in a report on Friday, October 20th. Bank of America started coverage on shares of Consolidated Edison in a report on Tuesday, October 24th. They issued a “buy” rating and a $92.00 price objective for the company. Guggenheim reiterated a “hold” rating and issued a $88.00 price objective on shares of Consolidated Edison in a report on Wednesday, January 3rd. Finally, ValuEngine upgraded shares of Consolidated Edison from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $81.86.
Shares of Consolidated Edison, Inc. (NYSE ED) opened at $77.13 on Tuesday. The stock has a market cap of $24,172.96, a P/E ratio of 19.28, a PEG ratio of 9.13 and a beta of 0.03. The company has a current ratio of 0.79, a quick ratio of 0.70 and a debt-to-equity ratio of 0.97. Consolidated Edison, Inc. has a 1-year low of $72.63 and a 1-year high of $89.70.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Wednesday, February 14th will be issued a dividend of $0.715 per share. The ex-dividend date is Tuesday, February 13th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 3.71%. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.69. Consolidated Edison’s dividend payout ratio (DPR) is currently 69.00%.
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Consolidated Edison Company Profile
Consolidated Edison, Inc (Con Edison) is a holding company. The Company operates through its subsidiaries, which include Consolidated Edison Company of New York, Inc (CECONY), Orange and Rockland Utilities, Inc (O&R), Con Edison Clean Energy Businesses, Inc (the Clean Energy Businesses) and Con Edison Transmission, Inc (Con Edison Transmission).
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