Waverly Advisors LLC Buys 5,568 Shares of Consolidated Edison, Inc. (NYSE:ED)

Waverly Advisors LLC grew its position in Consolidated Edison, Inc. (NYSE:ED - Free Report) by 148.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,314 shares of the utilities provider's stock after acquiring an additional 5,568 shares during the quarter. Waverly Advisors LLC's holdings in Consolidated Edison were worth $831,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Jacobi Capital Management LLC boosted its stake in Consolidated Edison by 4.2% during the 4th quarter. Jacobi Capital Management LLC now owns 2,569 shares of the utilities provider's stock valued at $229,000 after purchasing an additional 104 shares in the last quarter. Richwood Investment Advisors LLC boosted its stake in Consolidated Edison by 2.3% during the 4th quarter. Richwood Investment Advisors LLC now owns 5,194 shares of the utilities provider's stock valued at $463,000 after purchasing an additional 115 shares in the last quarter. Penobscot Investment Management Company Inc. boosted 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 valued at $205,000 after purchasing an additional 125 shares in the last quarter. TrinityPoint Wealth LLC boosted its stake in Consolidated Edison by 1.1% during the 4th quarter. TrinityPoint Wealth LLC now owns 11,395 shares of the utilities provider's stock valued at $1,017,000 after purchasing an additional 129 shares in the last quarter. Finally, Trust Point Inc. lifted its position in shares of 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 acquiring an additional 131 shares during the last quarter. 66.29% of the stock is currently owned by institutional investors.

Consolidated Edison Trading Up 0.9%

ED traded up $0.91 during trading on Thursday, reaching $103.02. 444,110 shares of the company's stock were exchanged, compared to its average volume of 2,280,694. Consolidated Edison, Inc. has a fifty-two week low of $87.28 and a fifty-two week high of $114.87. The firm has a market capitalization of $37.12 billion, a PE ratio of 19.67, a P/E/G ratio of 3.05 and a beta of 0.29. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01. The company's fifty day moving average price is $108.06 and its 200-day moving average price is $100.08.

Consolidated Edison (NYSE:ED - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The utilities provider reported $2.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.30 by ($0.05). The firm had revenue of $4.80 billion during the quarter, compared to analyst estimates of $4.21 billion. Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. During the same period last year, the firm earned $2.15 EPS. As a group, equities analysts forecast that Consolidated Edison, Inc. will post 5.62 EPS for the current year.

Consolidated Edison Dividend Announcement

The business 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 $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 3.30%. The ex-dividend date is Wednesday, May 14th. Consolidated Edison's payout ratio is presently 62.85%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Scotiabank increased their price objective on Consolidated Edison from $100.00 to $101.00 and gave the company a "sector perform" rating in a research report on Monday, February 24th. KeyCorp lowered Consolidated Edison from a "sector weight" rating to an "underweight" rating and set a $90.00 target price for the company. in a report on Wednesday, May 14th. Guggenheim increased their target price on Consolidated Edison from $96.00 to $103.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. Citigroup increased their target price on Consolidated Edison from $116.00 to $120.00 and gave the company a "buy" rating in a report on Wednesday, April 9th. Finally, Morgan Stanley reduced their target price on Consolidated Edison from $94.00 to $93.00 and set an "underweight" rating for the company in a report on Thursday, May 22nd. Three analysts have rated the stock with a sell rating, seven have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $104.27.

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.