Sigma Planning Corp Acquires 1,273 Shares of Consolidated Edison, Inc. (NYSE:ED)

Sigma Planning Corp raised its holdings in shares of Consolidated Edison, Inc. (NYSE:ED) by 10.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,312 shares of the utilities provider’s stock after purchasing an additional 1,273 shares during the quarter. Sigma Planning Corp’s holdings in Consolidated Edison were worth $1,188,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Point72 Asset Management L.P. lifted its holdings in Consolidated Edison by 1,766.0% during the 3rd quarter. Point72 Asset Management L.P. now owns 988,961 shares of the utilities provider’s stock valued at $102,980,000 after buying an additional 935,962 shares in the last quarter. FMR LLC increased its position in shares of Consolidated Edison by 82.3% during the third quarter. FMR LLC now owns 1,268,424 shares of the utilities provider’s stock worth $132,081,000 after acquiring an additional 572,530 shares during the period. International Assets Investment Management LLC raised its stake in shares of Consolidated Edison by 10,262.1% during the third quarter. International Assets Investment Management LLC now owns 553,546 shares of the utilities provider’s stock valued at $57,641,000 after acquiring an additional 548,204 shares in the last quarter. National Bank of Canada FI boosted its holdings in shares of Consolidated Edison by 350.6% in the third quarter. National Bank of Canada FI now owns 620,705 shares of the utilities provider’s stock valued at $64,634,000 after purchasing an additional 482,953 shares during the period. Finally, State Street Corp grew its stake in Consolidated Edison by 1.7% in the third quarter. State Street Corp now owns 23,429,218 shares of the utilities provider’s stock worth $2,439,684,000 after purchasing an additional 399,034 shares in the last quarter. 66.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on ED shares. Barclays lifted their target price on Consolidated Edison from $92.00 to $95.00 and gave the company an “underweight” rating in a research report on Monday. Mizuho upped their price objective on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Scotiabank raised their target price on shares of Consolidated Edison from $100.00 to $101.00 and gave the company a “sector perform” rating in a research report on Monday. Evercore ISI cut shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 21st. Finally, Morgan Stanley cut their price objective on shares of Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating on the stock in a report on Friday, November 22nd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $101.10.

Consolidated Edison Price Performance

Shares of ED opened at $99.66 on Tuesday. The company has a 50 day moving average of $92.26 and a two-hundred day moving average of $97.95. The company has a market cap of $34.52 billion, a price-to-earnings ratio of 19.02, a price-to-earnings-growth ratio of 3.05 and a beta of 0.39. 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, Inc. has a twelve month low of $85.85 and a twelve month high of $107.75.

Consolidated Edison (NYSE:ED) last announced its earnings results on Thursday, February 20th. The utilities provider reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.01. Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. The firm had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.63 billion. As a group, analysts predict that Consolidated Edison, Inc. will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Wednesday, February 19th will be given a $0.85 dividend. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.83. This represents a $3.40 annualized dividend and a dividend yield of 3.41%. The ex-dividend date of this dividend is Wednesday, February 19th. Consolidated Edison’s dividend payout ratio (DPR) is presently 64.89%.

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.