Alteri Wealth LLC Makes New Investment in Consolidated Edison, Inc. (NYSE:ED)

Alteri Wealth LLC bought a new stake in shares of Consolidated Edison, Inc. (NYSE:ED) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,724 shares of the utilities provider’s stock, valued at approximately $332,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. AlphaMark Advisors LLC bought a new position in Consolidated Edison in the 4th quarter worth $27,000. OFI Invest Asset Management purchased a new stake in Consolidated Edison in the fourth quarter worth about $35,000. Fairway Wealth LLC bought a new stake in Consolidated Edison during the 4th quarter valued at approximately $36,000. Centricity Wealth Management LLC purchased a new position in shares of Consolidated Edison during the 4th quarter worth approximately $39,000. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Consolidated Edison in the 4th quarter worth approximately $44,000. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Stock Down 2.2 %

ED stock opened at $110.07 on Friday. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93. Consolidated Edison, Inc. has a 1-year low of $87.28 and a 1-year high of $114.87. The stock has a market capitalization of $39.65 billion, a P/E ratio of 21.01, a P/E/G ratio of 3.05 and a beta of 0.27. The business has a fifty day moving average price of $107.80 and a 200-day moving average price of $99.80.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings results on Thursday, May 1st. The utilities provider reported $2.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.05). Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. The company had revenue of $4.80 billion for the quarter, compared to analysts’ expectations of $4.21 billion. During the same period in the previous year, the business earned $2.15 EPS. Equities analysts forecast that Consolidated Edison, Inc. will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Wednesday, May 14th will be paid a $0.85 dividend. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.09%. Consolidated Edison’s dividend payout ratio (DPR) is currently 64.89%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Citigroup upped their price target on Consolidated Edison from $116.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, April 9th. Evercore ISI cut shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 21st. Guggenheim upped their price objective on shares of Consolidated Edison from $96.00 to $103.00 and gave the stock a “neutral” rating in a report on Friday. UBS Group raised their target price on shares of Consolidated Edison from $110.00 to $113.00 and gave the company a “neutral” rating in a research note on Friday, March 21st. Finally, Mizuho boosted their price target on Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $105.70.

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.