Consolidated Edison, Inc. (NYSE:ED) Shares Purchased by Aaron Wealth Advisors LLC

Aaron Wealth Advisors LLC grew its holdings in shares of Consolidated Edison, Inc. (NYSE:ED) by 20.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,177 shares of the utilities provider’s stock after purchasing an additional 1,363 shares during the period. Aaron Wealth Advisors LLC’s holdings in Consolidated Edison were worth $730,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Point72 Asset Management L.P. lifted its stake in Consolidated Edison by 1,766.0% in the third 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 during the last quarter. FMR LLC lifted its position in Consolidated Edison by 82.3% in the 3rd quarter. FMR LLC now owns 1,268,424 shares of the utilities provider’s stock valued at $132,081,000 after purchasing an additional 572,530 shares during the last quarter. International Assets Investment Management LLC boosted its stake in Consolidated Edison by 10,262.1% during the 3rd quarter. International Assets Investment Management LLC now owns 553,546 shares of the utilities provider’s stock valued at $57,641,000 after purchasing an additional 548,204 shares during the period. National Bank of Canada FI boosted its stake in Consolidated Edison by 350.6% during the 3rd 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 position in Consolidated Edison by 1.7% in the 3rd 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 during the last quarter. 66.29% of the stock is currently owned by institutional investors.

Consolidated Edison Stock Performance

Shares of ED opened at $93.74 on Monday. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93. The firm’s 50 day moving average is $93.35 and its 200-day moving average is $97.91. Consolidated Edison, Inc. has a 12-month low of $85.85 and a 12-month high of $107.75. The stock has a market capitalization of $32.47 billion, a P/E ratio of 17.65, a P/E/G ratio of 2.81 and a beta of 0.38.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings results on Thursday, November 7th. The utilities provider reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.56 by $0.12. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.70%. The firm had revenue of $4.09 billion for the quarter, compared to analyst estimates of $4.02 billion. Equities research analysts anticipate that Consolidated Edison, Inc. will post 5.35 EPS for the current fiscal year.

Consolidated Edison Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Wednesday, February 19th will be issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 3.63%. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.83. The ex-dividend date is Wednesday, February 19th. Consolidated Edison’s dividend payout ratio is currently 64.03%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on ED shares. Jefferies Financial Group began coverage on Consolidated Edison in a report on Wednesday, October 9th. They set a “hold” rating and a $108.00 price target on the stock. Morgan Stanley reduced their price target on Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating for the company in a research report on Friday, November 22nd. Barclays decreased their price target on Consolidated Edison from $104.00 to $99.00 and set an “underweight” rating for the company in a research note on Friday, November 8th. Scotiabank upgraded shares of Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and lifted their price objective for the company from $90.00 to $100.00 in a research note on Thursday, December 12th. Finally, Evercore ISI upgraded shares of Consolidated Edison from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 8th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Consolidated Edison currently has a consensus rating of “Hold” and a consensus target price of $100.64.

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.