Victrix Investment Advisors Invests $267,000 in Consolidated Edison, Inc. (NYSE:ED)

Victrix Investment Advisors purchased a new position in Consolidated Edison, Inc. (NYSE:ED - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,988 shares of the utilities provider's stock, valued at approximately $267,000.

Other large investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. grew its position in shares of Consolidated Edison by 4.0% during the third quarter. JPMorgan Chase & Co. now owns 2,145,128 shares of the utilities provider's stock worth $223,373,000 after purchasing an additional 82,985 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in Consolidated Edison by 81.4% during the 4th quarter. Jones Financial Companies Lllp now owns 9,921 shares of the utilities provider's stock valued at $885,000 after buying an additional 4,451 shares in the last quarter. Nisa Investment Advisors LLC raised its position in shares of Consolidated Edison by 2.4% during the fourth quarter. Nisa Investment Advisors LLC now owns 132,754 shares of the utilities provider's stock valued at $11,846,000 after buying an additional 3,135 shares during the last quarter. Merit Financial Group LLC lifted its holdings in shares of Consolidated Edison by 54.0% in the fourth quarter. Merit Financial Group LLC now owns 9,133 shares of the utilities provider's stock worth $815,000 after buying an additional 3,204 shares in the last quarter. Finally, Smith Group Asset Management LLC purchased a new position in shares of Consolidated Edison in the fourth quarter worth $446,000. 66.29% of the stock is owned by hedge funds and other institutional investors.

Consolidated Edison Trading Down 1.8%

Shares of ED traded down $1.89 during mid-day trading on Thursday, reaching $103.33. 2,266,052 shares of the company's stock traded hands, compared to its average volume of 2,284,511. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93. The stock's 50-day moving average is $108.50 and its two-hundred day moving average is $99.92. Consolidated Edison, Inc. has a 12 month low of $87.28 and a 12 month high of $114.87. The stock has a market cap of $37.23 billion, a P/E ratio of 19.72, a P/E/G ratio of 3.05 and a beta of 0.29.

Consolidated Edison (NYSE:ED - Get Free Report) last released its earnings results on Thursday, May 1st. The utilities provider reported $2.25 earnings per share for the quarter, missing the consensus estimate 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 the consensus estimate of $4.21 billion. During the same quarter last year, the business posted $2.15 earnings per share. Research analysts forecast that Consolidated Edison, Inc. will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Wednesday, May 14th will be given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date of this dividend is Wednesday, May 14th. Consolidated Edison's payout ratio is 62.85%.

Wall Street Analysts Forecast Growth

ED has been the topic of several research analyst reports. Citigroup boosted their price target on shares of Consolidated Edison from $116.00 to $120.00 and gave the stock a "buy" rating in a research note on Wednesday, April 9th. Scotiabank lifted their price objective on Consolidated Edison from $100.00 to $101.00 and gave the stock a "sector perform" rating in a research note on Monday, February 24th. Guggenheim increased their target price on Consolidated Edison from $96.00 to $103.00 and gave the company a "neutral" rating in a research report on Friday, May 2nd. Barclays boosted their target price on shares of Consolidated Edison from $100.00 to $101.00 and gave the stock an "underweight" rating in a report on Monday, May 5th. Finally, Wells Fargo & Company lifted their price target on Consolidated Edison from $103.00 to $114.00 and gave the stock an "equal weight" rating in a research report on Friday, May 2nd. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Consolidated Edison has an average rating of "Hold" and a consensus target price of $104.27.

Consolidated Edison Company 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.