Cerity Partners LLC Has $5.20 Million Stock Holdings in Consolidated Edison, Inc. (NYSE:ED)

Cerity Partners LLC lifted its holdings in shares of Consolidated Edison, Inc. (NYSE:ED) by 44.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 57,163 shares of the utilities provider’s stock after buying an additional 17,521 shares during the period. Cerity Partners LLC’s holdings in Consolidated Edison were worth $5,200,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of ED. Retirement Group LLC raised its holdings in shares of Consolidated Edison by 74.8% in the 4th quarter. Retirement Group LLC now owns 271 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 116 shares during the period. Financial Gravity Asset Management Inc. raised its holdings in shares of Consolidated Edison by 215.6% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 284 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 194 shares during the period. Level Financial Advisors Inc. bought a new stake in shares of Consolidated Edison in the 3rd quarter valued at about $26,000. Tyler Stone Wealth Management bought a new stake in shares of Consolidated Edison in the 2nd quarter valued at about $28,000. Finally, Turtle Creek Wealth Advisors LLC bought a new stake in shares of Consolidated Edison in the 4th quarter valued at about $29,000. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Consolidated Edison Stock Performance

Shares of NYSE:ED opened at $87.42 on Wednesday. The company’s 50 day moving average price is $88.85 and its two-hundred day moving average price is $89.53. Consolidated Edison, Inc. has a 12-month low of $80.46 and a 12-month high of $100.92. The firm has a market cap of $30.20 billion, a PE ratio of 12.18, a PEG ratio of 8.36 and a beta of 0.35. The company has a quick ratio of 0.94, a current ratio of 1.01 and a debt-to-equity ratio of 1.04.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings results on Thursday, February 15th. The utilities provider reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.02. The business had revenue of $3.44 billion for the quarter, compared to analyst estimates of $3.70 billion. Consolidated Edison had a net margin of 17.19% and a return on equity of 8.41%. The firm’s revenue for the quarter was down 14.6% on a year-over-year basis. During the same quarter last year, the business posted $0.81 EPS. Equities research analysts predict that Consolidated Edison, Inc. will post 5.3 earnings per share for the current year.

Consolidated Edison Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Wednesday, February 14th were given a dividend of $0.83 per share. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.81. The ex-dividend date of this dividend was Tuesday, February 13th. This represents a $3.32 annualized dividend and a dividend yield of 3.80%. Consolidated Edison’s dividend payout ratio (DPR) is currently 46.24%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Royal Bank of Canada dropped their target price on shares of Consolidated Edison from $94.00 to $93.00 and set a “sector perform” rating on the stock in a report on Friday, February 16th. Scotiabank increased their price target on shares of Consolidated Edison from $90.00 to $91.00 and gave the company a “sector underperform” rating in a report on Tuesday, February 20th. KeyCorp raised shares of Consolidated Edison from an “underweight” rating to a “sector weight” rating in a report on Thursday, January 4th. UBS Group lowered their price target on shares of Consolidated Edison from $99.00 to $94.00 and set a “neutral” rating on the stock in a report on Friday, February 16th. Finally, Barclays increased their price target on shares of Consolidated Edison from $86.00 to $87.00 and gave the company an “equal weight” rating in a report on Thursday, March 14th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, Consolidated Edison has an average rating of “Hold” and a consensus target price of $87.96.

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.