6,678 Shares in Consolidated Edison, Inc. (NYSE:ED) Bought by Northstar Financial Companies Inc.

Northstar Financial Companies Inc. acquired a new stake in Consolidated Edison, Inc. (NYSE:ED - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 6,678 shares of the utilities provider's stock, valued at approximately $596,000.

A number of other large investors have also bought and sold shares of ED. Fairway Wealth LLC bought a new stake in shares of Consolidated Edison in the fourth quarter valued at about $36,000. Wood Tarver Financial Group LLC acquired a new stake in Consolidated Edison in the 4th quarter valued at approximately $35,000. OFI Invest Asset Management bought a new stake in shares of Consolidated Edison in the fourth quarter worth $35,000. Centricity Wealth Management LLC bought a new stake in shares of Consolidated Edison in the fourth quarter worth $39,000. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of Consolidated Edison in the fourth quarter worth $44,000. 66.29% of the stock is owned by institutional investors.

Consolidated Edison Stock Performance

Shares of ED stock traded up $1.27 during trading on Friday, reaching $104.65. 6,398,492 shares of the company's stock were exchanged, compared to its average volume of 2,308,764. Consolidated Edison, Inc. has a twelve month low of $87.28 and a twelve month high of $114.87. The firm's fifty day moving average price is $107.99 and its 200-day moving average price is $100.12. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07. The stock has a market capitalization of $37.70 billion, a PE ratio of 19.97, a PEG ratio of 3.05 and a beta of 0.29.

Consolidated Edison (NYSE:ED - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The utilities provider reported $2.25 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.05). The company 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 quarter in the prior year, the firm earned $2.15 earnings per share. As a group, sell-side analysts anticipate that Consolidated Edison, Inc. will post 5.62 EPS for the current year.

Consolidated Edison Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Wednesday, May 14th will be given a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 3.25%. The ex-dividend date is Wednesday, May 14th. Consolidated Edison's payout ratio is 62.85%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on ED shares. Guggenheim lifted their price target on shares of Consolidated Edison from $96.00 to $103.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. Wells Fargo & Company lifted their target price on Consolidated Edison from $103.00 to $114.00 and gave the company an "equal weight" rating in a research report on Friday, May 2nd. Citigroup increased their price target on Consolidated Edison from $116.00 to $120.00 and gave the company a "buy" rating in a research report on Wednesday, April 9th. Mizuho raised their price target on Consolidated Edison from $92.00 to $95.00 and gave the company a "neutral" rating in a research note on Monday, February 3rd. Finally, Morgan Stanley lowered their price target on Consolidated Edison from $94.00 to $93.00 and set an "underweight" rating on the stock in a research report on Thursday, May 22nd. Three investment analysts have rated the stock with a sell rating, seven have given 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, the company presently has a consensus rating of "Hold" and a consensus target price of $104.27.

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.