Signaturefd LLC Purchases 982 Shares of Consolidated Edison, Inc. (NYSE:ED)

Signaturefd LLC lifted its position in shares of Consolidated Edison, Inc. (NYSE:ED) by 8.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,128 shares of the utilities provider’s stock after purchasing an additional 982 shares during the period. Signaturefd LLC’s holdings in Consolidated Edison were worth $1,171,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the company. Parallel Advisors LLC increased its stake in shares of Consolidated Edison by 25.9% during the fourth quarter. Parallel Advisors LLC now owns 11,328 shares of the utilities provider’s stock worth $1,011,000 after purchasing an additional 2,332 shares during the period. Cibc World Markets Corp increased its stake in Consolidated Edison by 16.4% during the 4th quarter. Cibc World Markets Corp now owns 54,666 shares of the utilities provider’s stock worth $4,878,000 after acquiring an additional 7,711 shares during the period. Creative Financial Designs Inc. ADV increased its stake in Consolidated Edison by 2.2% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 8,246 shares of the utilities provider’s stock worth $736,000 after acquiring an additional 175 shares during the period. SlateStone Wealth LLC increased its stake in Consolidated Edison by 5.7% during the 4th quarter. SlateStone Wealth LLC now owns 17,389 shares of the utilities provider’s stock worth $1,552,000 after acquiring an additional 935 shares during the period. Finally, GWN Securities Inc. bought a new position in Consolidated Edison during the 4th quarter worth $1,215,000. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Trading Up 0.3 %

Shares of ED opened at $107.89 on Wednesday. Consolidated Edison, Inc. has a 52-week low of $87.16 and a 52-week high of $108.43. The business’s fifty day moving average is $96.75 and its 200-day moving average is $98.26. 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 has a market cap of $37.41 billion, a price-to-earnings ratio of 20.59, a PEG ratio of 3.05 and a beta of 0.30.

Consolidated Edison (NYSE:ED) last released its quarterly earnings data on Thursday, February 20th. The utilities provider reported $0.98 earnings per share for the quarter, beating 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 company had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.63 billion. Equities analysts anticipate that Consolidated Edison, Inc. will post 5.62 EPS for the current fiscal year.

Consolidated Edison Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Wednesday, February 19th were issued a dividend of $0.85 per share. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend was Wednesday, February 19th. This represents a $3.40 annualized dividend and a dividend yield of 3.15%. Consolidated Edison’s dividend payout ratio (DPR) is 64.89%.

Wall Street Analyst Weigh In

ED has been the topic of a number of recent research reports. Evercore ISI lowered Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 21st. Morgan Stanley lowered their price objective on Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating on the stock in a research note on Friday, November 22nd. Barclays raised their price objective on Consolidated Edison from $92.00 to $95.00 and gave the stock an “underweight” rating in a research note on Monday, February 24th. UBS Group raised their price objective on Consolidated Edison from $105.00 to $110.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 25th. Finally, Mizuho raised their price objective on Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Two analysts have rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Consolidated Edison currently has a consensus rating of “Hold” and a consensus price target of $101.50.

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.