Bellwether Advisors LLC Acquires New Stake in Consolidated Edison, Inc. (NYSE:ED)

Bellwether Advisors LLC acquired a new stake in shares of Consolidated Edison, Inc. (NYSE:ED - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 4,375 shares of the utilities provider's stock, valued at approximately $390,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. AlphaMark Advisors LLC bought a new stake in Consolidated Edison during the 4th quarter worth approximately $27,000. OFI Invest Asset Management bought a new stake in shares of Consolidated Edison during the fourth quarter worth $35,000. Fairway Wealth LLC acquired a new stake in shares of Consolidated Edison in the fourth quarter valued at $36,000. Centricity Wealth Management LLC bought a new position in shares of Consolidated Edison in the fourth quarter valued at about $39,000. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new position in Consolidated Edison during the 4th quarter worth about $44,000. 66.29% of the stock is owned by institutional investors.

Consolidated Edison Trading Down 0.2 %

Consolidated Edison stock traded down $0.17 during midday trading on Thursday, hitting $112.58. 2,895,154 shares of the stock were exchanged, compared to its average volume of 2,219,905. The stock has a market capitalization of $40.55 billion, a PE ratio of 21.48, a P/E/G ratio of 3.05 and a beta of 0.27. The company has a fifty day simple moving average of $107.36 and a two-hundred day simple moving average of $99.75. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07. Consolidated Edison, Inc. has a 52 week low of $87.28 and a 52 week high of $114.87.

Consolidated Edison (NYSE:ED - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The utilities provider reported $0.98 earnings per share for the quarter, topping analysts' consensus estimates of $0.97 by $0.01. Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. The company had revenue of $3.67 billion for the quarter, compared to analysts' expectations of $3.63 billion. Equities research analysts anticipate that Consolidated Edison, Inc. will post 5.62 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Wednesday, May 14th will be issued a $0.85 dividend. The ex-dividend date is Wednesday, May 14th. This represents a $3.40 annualized dividend and a dividend yield of 3.02%. Consolidated Edison's dividend payout ratio (DPR) is currently 64.89%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ED. Morgan Stanley set a $94.00 target price on shares of Consolidated Edison and gave the stock an "overweight" rating in a research note on Wednesday, April 23rd. Scotiabank upped their price objective on Consolidated Edison from $100.00 to $101.00 and gave the stock a "sector perform" rating in a report on Monday, February 24th. Barclays lifted their target price on Consolidated Edison from $95.00 to $100.00 and gave the company an "underweight" rating in a research note on Tuesday, April 22nd. Mizuho raised their price target on Consolidated Edison from $92.00 to $95.00 and gave the company a "neutral" rating in a report on Monday, February 3rd. Finally, Citigroup boosted their price objective on Consolidated Edison from $116.00 to $120.00 and gave the stock a "buy" rating in a report on Wednesday, April 9th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $103.60.

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.