Certior Financial Group LLC Invests $436,000 in Consolidated Edison, Inc. (NYSE:ED)

Certior Financial Group LLC acquired 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 firm acquired 4,890 shares of the utilities provider’s stock, valued at approximately $436,000.

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

Analyst Upgrades and Downgrades

ED has been the subject of several recent analyst reports. Morgan Stanley boosted their price objective on shares of Consolidated Edison from $85.00 to $91.00 and gave the stock an “underweight” rating in a research note on Thursday, March 20th. Mizuho increased their price objective on Consolidated Edison from $92.00 to $95.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Barclays boosted their target price 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 target on Consolidated Edison from $110.00 to $113.00 and gave the stock a “neutral” rating in a report on Friday, March 21st. Finally, Scotiabank increased their price objective 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, February 24th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $102.40.

Consolidated Edison Price Performance

Shares of NYSE:ED opened at $109.53 on Monday. Consolidated Edison, Inc. has a twelve month low of $87.28 and a twelve month high of $114.87. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.07. The company has a market cap of $39.45 billion, a PE ratio of 20.90, a price-to-earnings-growth ratio of 3.05 and a beta of 0.27. The company’s 50 day moving average is $101.43 and its 200 day moving average is $98.70.

Consolidated Edison (NYSE:ED) last issued its earnings results on Thursday, February 20th. The utilities provider reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.01. Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. The firm had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.63 billion. On average, sell-side analysts forecast that Consolidated Edison, Inc. will post 5.62 EPS for the current year.

Consolidated Edison Increases Dividend

The business also recently announced 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 represents a $3.40 annualized dividend and a yield of 3.10%. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend was Wednesday, February 19th. Consolidated Edison’s dividend payout ratio (DPR) is 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.