Certuity LLC Has $315,000 Stock Holdings in Consolidated Edison, Inc. (NYSE:ED)

Certuity LLC boosted its holdings in Consolidated Edison, Inc. (NYSE:ED) by 27.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 3,525 shares of the utilities provider’s stock after purchasing an additional 760 shares during the period. Certuity LLC’s holdings in Consolidated Edison were worth $315,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of ED. Wilmington Savings Fund Society FSB bought a new position in Consolidated Edison during the third quarter worth $776,000. Pathway Financial Advisers LLC grew its position in Consolidated Edison by 10,302.6% in the 3rd quarter. Pathway Financial Advisers LLC now owns 24,446 shares of the utilities provider’s stock worth $2,546,000 after purchasing an additional 24,211 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Consolidated Edison by 4.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,145,128 shares of the utilities provider’s stock worth $223,373,000 after purchasing an additional 82,985 shares during the period. Hennessy Advisors Inc. increased its holdings in shares of Consolidated Edison by 2.8% during the 4th quarter. Hennessy Advisors Inc. now owns 143,136 shares of the utilities provider’s stock worth $12,772,000 after purchasing an additional 3,900 shares during the period. Finally, Gateway Investment Advisers LLC raised its position in shares of Consolidated Edison by 102.7% during the fourth quarter. Gateway Investment Advisers LLC now owns 430,279 shares of the utilities provider’s stock valued at $38,394,000 after buying an additional 217,981 shares during the last quarter. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Consolidated Edison Stock Down 1.8 %

ED opened at $94.57 on Thursday. The firm has a market cap of $32.76 billion, a price-to-earnings ratio of 17.81, a PEG ratio of 3.04 and a beta of 0.39. 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 firm’s 50-day simple moving average is $91.89 and its 200-day simple moving average is $98.18. Consolidated Edison, Inc. has a twelve month low of $85.85 and a twelve month high of $107.75.

Consolidated Edison Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th will be paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 3.60%. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend is Wednesday, February 19th. Consolidated Edison’s dividend payout ratio is currently 62.52%.

Wall Street Analysts Forecast Growth

ED has been the topic of several research reports. Mizuho boosted 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. Barclays lowered their price objective on Consolidated Edison from $99.00 to $92.00 and set an “underweight” rating on the stock in a research report on Monday, January 27th. Scotiabank upgraded Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and upped their target price for the company from $90.00 to $100.00 in a research note on Thursday, December 12th. Evercore ISI downgraded shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 21st. Finally, Morgan Stanley dropped their price objective on shares of Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating for the company in a research note on Friday, November 22nd. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $100.00.

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.