The Dimensional Fund Advisors LP invests in Consolidated Edison Inc. (ED) Shares

The Dimensional Fund Advisors LP invests in Consolidated Edison Inc. (ED) Shares

Dimensional Fund Advisors LP raised its position in shares of Consolidated Edison Inc. (NYSE:ED) by 1.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 572,093 shares of the company’s stock after buying an additional 8,193 shares during the period. Dimensional Fund Advisors LP owned approximately 0.19% of Consolidated Edison worth $46,010,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Tortoise Investment Management LLC increased its stake in Consolidated Edison by 380.2% in the second quarter. Tortoise Investment Management LLC now owns 1,263 shares of the company’s stock valued at $102,000 after buying an additional 1,000 shares during the last quarter. Baker Ellis Asset Management LLC bought a new stake in Consolidated Edison during the second quarter valued at about $105,000. Coconut Grove Bank increased its stake in Consolidated Edison by 51.7% in the second quarter. Coconut Grove Bank now owns 1,312 shares of the company’s stock valued at $105,000 after buying an additional 447 shares during the last quarter. TCI Wealth Advisors Inc. increased its stake in Consolidated Edison by 62.5% in the second quarter. TCI Wealth Advisors Inc. now owns 1,347 shares of the company’s stock valued at $108,000 after buying an additional 518 shares during the last quarter. Finally, Jackson Grant Investment Advisers Inc. increased its stake in Consolidated Edison by 68.0% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 1,050 shares of the company’s stock valued at $119,000 after buying an additional 425 shares during the last quarter. 54.76% of the stock is owned by institutional investors.

Shares of Consolidated Edison Inc. (NYSE:ED) opened at 71.99 on Wednesday. The company has a market cap of $21.91 billion, a PE ratio of 18.66 and a beta of 0.01. Consolidated Edison Inc. has a 12 month low of $60.30 and a 12 month high of $81.88. The firm’s 50-day moving average price is $75.26 and its 200-day moving average price is $76.22.

Consolidated Edison (NYSE:ED) last posted its earnings results on Thursday, August 4th. The company reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $0.69 by $0.09. Consolidated Edison had a return on equity of 8.88% and a net margin of 9.47%. During the same period last year, the business earned $0.78 EPS. Equities analysts predict that Consolidated Edison Inc. will post $3.97 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Wednesday, August 17th were issued a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.74%. The ex-dividend date was Monday, August 15th. Consolidated Edison’s payout ratio is presently 69.25%.

A number of brokerages have recently weighed in on ED. Citigroup Inc. dropped their target price on Consolidated Edison from $76.00 to $72.00 and set a “neutral” rating on the stock in a report on Tuesday, October 4th. Vetr upgraded Consolidated Edison from a “sell” rating to a “hold” rating and set a $74.71 target price on the stock in a report on Wednesday, September 7th. Evercore ISI downgraded Consolidated Edison from a “hold” rating to a “sell” rating and upped their target price for the company from $69.50 to $72.50 in a report on Wednesday, July 6th. BMO Capital Markets began coverage on Consolidated Edison in a report on Wednesday, June 22nd. They issued a “hold” rating and a $79.00 target price on the stock. Finally, Barclays PLC dropped their target price on Consolidated Edison from $80.00 to $77.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 21st. Four analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. Consolidated Edison presently has a consensus rating of “Hold” and an average price target of $74.47.

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