Consolidated Edison, Inc. (NYSE:ED) Holdings Lifted by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. increased its holdings in shares of Consolidated Edison, Inc. (NYSE:ED) by 4.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 416,053 shares of the utilities provider’s stock after buying an additional 17,432 shares during the quarter. Nomura Asset Management Co. Ltd. owned 0.12% of Consolidated Edison worth $37,848,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of ED. Financial Gravity Asset Management Inc. boosted its position in Consolidated Edison by 215.6% during the third quarter. Financial Gravity Asset Management Inc. now owns 284 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 194 shares during the last quarter. Turtle Creek Wealth Advisors LLC acquired a new stake in Consolidated Edison during the fourth quarter valued at $29,000. Tidemark LLC acquired a new stake in Consolidated Edison during the fourth quarter valued at $29,000. Bruce G. Allen Investments LLC acquired a new stake in Consolidated Edison during the fourth quarter valued at $31,000. Finally, CVA Family Office LLC acquired a new stake in Consolidated Edison during the fourth quarter valued at $32,000. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Consolidated Edison Price Performance

Shares of ED stock traded up $0.56 during trading hours on Friday, hitting $94.43. The company had a trading volume of 1,639,105 shares, compared to its average volume of 2,007,665. Consolidated Edison, Inc. has a 12 month low of $80.46 and a 12 month high of $98.85. The firm has a market capitalization of $32.66 billion, a price-to-earnings ratio of 18.12, a PEG ratio of 2.38 and a beta of 0.34. The firm’s fifty day moving average is $92.60 and its 200 day moving average is $90.99. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.92 and a current ratio of 0.99.

Consolidated Edison (NYSE:ED) last announced its earnings results on Thursday, May 2nd. The utilities provider reported $2.15 EPS for the quarter, topping the consensus estimate of $1.89 by $0.26. The business had revenue of $4.28 billion for the quarter, compared to the consensus estimate of $4.40 billion. Consolidated Edison had a return on equity of 8.79% and a net margin of 12.43%. Consolidated Edison’s revenue was down 2.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.83 EPS. On average, sell-side analysts predict that Consolidated Edison, Inc. will post 5.34 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Wednesday, May 15th will be issued a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 3.52%. The ex-dividend date is Tuesday, May 14th. Consolidated Edison’s dividend payout ratio is 63.72%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Scotiabank reduced their price target on Consolidated Edison from $91.00 to $85.00 and set a “sector underperform” rating for the company in a research report on Monday, April 22nd. Wells Fargo & Company boosted their price target on Consolidated Edison from $93.00 to $97.00 and gave the stock an “equal weight” rating in a research report on Friday, May 3rd. Barclays boosted their price target on Consolidated Edison from $89.00 to $97.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 7th. Royal Bank of Canada reduced their price target on Consolidated Edison from $94.00 to $93.00 and set a “sector perform” rating for the company in a research report on Friday, February 16th. Finally, UBS Group reduced their price target on Consolidated Edison from $99.00 to $94.00 and set a “neutral” rating for the company in a research report on Friday, February 16th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Consolidated Edison has a consensus rating of “Hold” and an average price target of $88.46.

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.