Investor s Fiduciary Advisor Network LLC Takes $232,000 Position in Consolidated Edison, Inc. (NYSE:ED)

Investor s Fiduciary Advisor Network LLC bought a new stake in Consolidated Edison, Inc. (NYSE:ED - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 2,605 shares of the utilities provider's stock, valued at approximately $232,000.

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

Analyst Ratings Changes

Several research firms have commented on ED. Barclays upped their target price on shares of Consolidated Edison from $100.00 to $101.00 and gave the stock an "underweight" rating in a research report on Monday, May 5th. 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. Scotiabank raised their price target on Consolidated Edison from $100.00 to $101.00 and gave the company a "sector perform" rating in a report on Monday, February 24th. KeyCorp lowered Consolidated Edison from a "sector weight" rating to an "underweight" rating and set a $90.00 price target on the stock. in a report on Wednesday. Finally, Citigroup raised their price target on Consolidated Edison from $116.00 to $120.00 and gave the company a "buy" rating in a report on Wednesday, April 9th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Consolidated Edison currently has an average rating of "Hold" and a consensus target price of $104.36.

Consolidated Edison Trading Up 2.7%

ED traded up $2.67 during trading on Thursday, reaching $101.94. The company had a trading volume of 3,497,213 shares, compared to its average volume of 2,275,862. The firm's 50-day simple moving average is $108.54 and its 200 day simple moving average is $99.85. The company has a market cap of $36.73 billion, a price-to-earnings ratio of 19.45, a PEG ratio of 3.05 and a beta of 0.29. Consolidated Edison, Inc. has a 12-month low of $87.28 and a 12-month high of $114.87. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01.

Consolidated Edison (NYSE:ED - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The utilities provider reported $2.25 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 quarter in the previous year, the business posted $2.15 earnings per share. Equities research analysts anticipate that Consolidated Edison, Inc. will post 5.62 earnings per share for the current year.

Consolidated Edison Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Wednesday, May 14th will be given a dividend of $0.85 per share. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $3.40 dividend on an annualized basis and a yield of 3.34%. Consolidated Edison's payout ratio is presently 62.85%.

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.