17,768 Shares in Consolidated Edison, Inc. (NYSE:ED) Bought by Cary Street Partners Financial LLC

Cary Street Partners Financial LLC purchased a new stake in Consolidated Edison, Inc. (NYSE:ED - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 17,768 shares of the utilities provider's stock, valued at approximately $1,585,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Jacobi Capital Management LLC grew its holdings in Consolidated Edison by 4.2% in the fourth quarter. Jacobi Capital Management LLC now owns 2,569 shares of the utilities provider's stock worth $229,000 after purchasing an additional 104 shares during the last quarter. Richwood Investment Advisors LLC boosted its position in shares of Consolidated Edison by 2.3% in the 4th quarter. Richwood Investment Advisors LLC now owns 5,194 shares of the utilities provider's stock worth $463,000 after purchasing an additional 115 shares in the last quarter. Penobscot Investment Management Company Inc. grew its stake in Consolidated Edison by 5.7% during the 4th quarter. Penobscot Investment Management Company Inc. now owns 2,300 shares of the utilities provider's stock worth $205,000 after buying an additional 125 shares during the last quarter. Trust Point Inc. increased its position in Consolidated Edison by 4.9% during the 4th quarter. Trust Point Inc. now owns 2,790 shares of the utilities provider's stock valued at $249,000 after buying an additional 131 shares in the last quarter. Finally, Haverford Trust Co raised its stake in Consolidated Edison by 3.7% in the fourth quarter. Haverford Trust Co now owns 3,709 shares of the utilities provider's stock valued at $331,000 after buying an additional 132 shares during the last quarter. Institutional investors own 66.29% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Barclays increased their price objective on shares of Consolidated Edison from $100.00 to $101.00 and gave the company an "underweight" rating in a research report on Monday, May 5th. Scotiabank increased their price target on Consolidated Edison from $100.00 to $101.00 and gave the stock a "sector perform" rating in a research report on Monday, February 24th. Citigroup boosted their target price on shares of Consolidated Edison from $116.00 to $120.00 and gave the company a "buy" rating in a research note on Wednesday, April 9th. Morgan Stanley set a $94.00 price target on Consolidated Edison and gave the stock an "overweight" rating in a report on Wednesday, April 23rd. Finally, Mizuho lifted their target price on shares of Consolidated Edison from $92.00 to $95.00 and gave the company a "neutral" rating in a research report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $105.80.

Consolidated Edison Trading Down 0.1 %

NYSE:ED traded down $0.11 on Friday, hitting $107.64. The stock had a trading volume of 2,248,896 shares, compared to its average volume of 2,245,893. The company has a fifty day moving average price of $108.57 and a two-hundred day moving average price of $99.90. The stock has a market cap of $38.78 billion, a price-to-earnings ratio of 20.54, a PEG ratio of 3.05 and a beta of 0.29. 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 1-year low of $87.28 and a 1-year high of $114.87.

Consolidated Edison (NYSE:ED - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The utilities provider reported $2.25 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.30 by ($0.05). Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. The business had revenue of $4.80 billion for the quarter, compared to analyst estimates of $4.21 billion. During the same period in the previous year, the business posted $2.15 earnings per share. Equities research analysts expect that Consolidated Edison, Inc. will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Wednesday, May 14th will be paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 3.16%. The ex-dividend date is Wednesday, May 14th. Consolidated Edison's payout ratio is 62.85%.

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.