NewEdge Advisors LLC lifted its position in shares of Consolidated Edison, Inc. (NYSE:ED - Free Report) by 33.3% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 21,584 shares of the utilities provider's stock after buying an additional 5,387 shares during the quarter. NewEdge Advisors LLC's holdings in Consolidated Edison were worth $1,926,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. AlphaMark Advisors LLC bought a new position in shares of Consolidated Edison in the fourth quarter worth $27,000. Fairway Wealth LLC bought a new position in shares of Consolidated Edison in the fourth quarter worth $36,000. OFI Invest Asset Management bought a new position in shares of Consolidated Edison in the fourth quarter worth $35,000. Centricity Wealth Management LLC bought a new position in shares of Consolidated Edison in the fourth quarter worth $39,000. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Consolidated Edison in the fourth quarter worth $44,000. Institutional investors and hedge funds own 66.29% of the company's stock.
Consolidated Edison Trading Up 0.7 %
Shares of ED stock traded up $0.74 during trading hours on Monday, hitting $111.19. 2,938,224 shares of the company's stock traded hands, compared to its average volume of 2,208,084. The stock's 50 day simple moving average is $106.74 and its 200 day simple moving average is $99.57. The stock has a market cap of $40.05 billion, a PE ratio of 21.22, a price-to-earnings-growth ratio of 3.05 and a beta of 0.27. Consolidated Edison, Inc. has a 12 month low of $87.28 and a 12 month high of $114.87. 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 released its quarterly earnings results on Thursday, February 20th. The utilities provider reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.01. The firm had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.63 billion. Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. On average, 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 disclosed 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 annualized dividend and a dividend yield of 3.06%. The ex-dividend date of this dividend is Wednesday, May 14th. Consolidated Edison's dividend payout ratio (DPR) is presently 64.89%.
Analyst Ratings Changes
A number of research analysts recently commented on ED shares. Citigroup raised their price target on Consolidated Edison from $116.00 to $120.00 and gave the stock a "buy" rating in a research report on Wednesday, April 9th. Mizuho lifted their target price on Consolidated Edison from $92.00 to $95.00 and gave the company a "neutral" rating in a research report on Monday, February 3rd. Scotiabank lifted their target price 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. Morgan Stanley set a $94.00 target price on Consolidated Edison and gave the company an "overweight" rating in a research report on Wednesday, April 23rd. Finally, Barclays lifted their target price on Consolidated Edison from $95.00 to $100.00 and gave the company an "underweight" rating in a research report on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Consolidated Edison currently has an average rating of "Hold" and an average price target of $103.60.
Check Out Our Latest Analysis on ED
Consolidated Edison Company Profile
(
Free Report)
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.
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