Lionshead Wealth Management LLC Makes New $241,000 Investment in Consolidated Edison, Inc. (NYSE:ED)

Lionshead Wealth Management LLC purchased a new stake in shares of Consolidated Edison, Inc. (NYSE:ED - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 2,699 shares of the utilities provider's stock, valued at approximately $241,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in ED. AlphaMark Advisors LLC purchased a new position in Consolidated Edison during the fourth quarter valued at approximately $27,000. Fairway Wealth LLC bought a new stake in shares of Consolidated Edison during the fourth quarter valued at approximately $36,000. OFI Invest Asset Management bought a new stake in shares of Consolidated Edison during the fourth quarter valued at approximately $35,000. Centricity Wealth Management LLC bought a new stake in shares of Consolidated Edison during the fourth quarter valued at approximately $39,000. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of Consolidated Edison during the fourth quarter valued at approximately $44,000. Hedge funds and other institutional investors own 66.29% of the company's stock.

Consolidated Edison Stock Up 2.2%

NYSE:ED traded up $2.30 during mid-day trading on Friday, reaching $104.31. The company's stock had a trading volume of 2,758,878 shares, compared to its average volume of 2,282,299. Consolidated Edison, Inc. has a 1 year low of $87.28 and a 1 year high of $114.87. The stock has a fifty day moving average of $108.45 and a 200-day moving average of $99.82. The firm has a market capitalization of $37.58 billion, a PE ratio of 19.91, a price-to-earnings-growth 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 (NYSE:ED - Get Free Report) last posted its quarterly earnings data 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). Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. The company had revenue of $4.80 billion for the quarter, compared to analyst estimates of $4.21 billion. During the same quarter last year, the company earned $2.15 EPS. Equities research analysts forecast that Consolidated Edison, Inc. will post 5.62 earnings per share for the current year.

Consolidated Edison Announces Dividend

The company also recently disclosed 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 annualized dividend and a yield of 3.26%. The ex-dividend date of this dividend is Wednesday, May 14th. Consolidated Edison's dividend payout ratio is currently 62.85%.

Analyst Ratings Changes

Several research firms have recently issued reports on ED. UBS Group lifted their price objective on shares of Consolidated Edison from $110.00 to $113.00 and gave the company a "neutral" rating in a research report on Friday, March 21st. KeyCorp cut shares of Consolidated Edison from a "sector weight" rating to an "underweight" rating and set a $90.00 price objective on the stock. in a research report on Wednesday. Evercore ISI cut shares of Consolidated Edison from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, January 21st. Scotiabank boosted their price target on shares of Consolidated Edison from $100.00 to $101.00 and gave the stock a "sector perform" rating in a research report on Monday, February 24th. Finally, Guggenheim boosted their price target on shares of Consolidated Edison from $96.00 to $103.00 and gave the stock a "neutral" rating in a research report on Friday, May 2nd. Two research analysts have rated the stock with a sell rating, seven have given 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 has an average rating of "Hold" and a consensus price target of $104.36.

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.