Tokio Marine Asset Management Co. Ltd. Purchases 216 Shares of Consolidated Edison, Inc. (NYSE:ED)

Tokio Marine Asset Management Co. Ltd. raised its holdings in shares of Consolidated Edison, Inc. (NYSE:ED) by 2.8% in the third quarter, HoldingsChannel.com reports. The firm owned 8,067 shares of the utilities provider’s stock after buying an additional 216 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Consolidated Edison were worth $840,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of ED. Capital Performance Advisors LLP purchased a new position in shares of Consolidated Edison during the third quarter valued at approximately $27,000. Beacon Capital Management LLC boosted its holdings in Consolidated Edison by 2,307.7% during the 1st quarter. Beacon Capital Management LLC now owns 313 shares of the utilities provider’s stock worth $28,000 after acquiring an additional 300 shares during the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of Consolidated Edison in the 3rd quarter worth $30,000. Pathway Financial Advisers LLC purchased a new stake in shares of Consolidated Edison in the first quarter valued at about $33,000. Finally, TruNorth Capital Management LLC purchased a new stake in shares of Consolidated Edison in the second quarter valued at about $33,000. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Price Performance

NYSE ED opened at $96.43 on Friday. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07. The company has a market cap of $33.40 billion, a PE ratio of 18.16, a price-to-earnings-growth ratio of 3.21 and a beta of 0.36. Consolidated Edison, Inc. has a 52 week low of $85.85 and a 52 week high of $107.75. The firm’s 50-day simple moving average is $102.81 and its two-hundred day simple moving average is $97.98.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings results on Thursday, November 7th. The utilities provider reported $1.68 EPS for the quarter, beating analysts’ consensus estimates of $1.56 by $0.12. The company had revenue of $4.09 billion for the quarter, compared to analysts’ expectations of $4.02 billion. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.70%. Research analysts predict that Consolidated Edison, Inc. will post 5.33 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Wednesday, November 13th will be given a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 3.44%. The ex-dividend date of this dividend is Wednesday, November 13th. Consolidated Edison’s dividend payout ratio is presently 62.52%.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Barclays cut their price target on shares of Consolidated Edison from $104.00 to $99.00 and set an “underweight” rating on the stock in a report on Friday, November 8th. Jefferies Financial Group began coverage on Consolidated Edison in a research note on Wednesday, October 9th. They issued a “hold” rating and a $108.00 target price on the stock. UBS Group increased their price target on Consolidated Edison from $105.00 to $106.00 and gave the company a “neutral” rating in a research report on Friday, September 20th. Guggenheim boosted their price objective on Consolidated Edison from $88.00 to $91.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Finally, Scotiabank upped their price objective on Consolidated Edison from $85.00 to $90.00 and gave the company a “sector underperform” rating in a research note on Tuesday, August 20th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $98.35.

Consolidated Edison 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.