Choate Investment Advisors Has $214,000 Stock Position in Consolidated Edison, Inc. (NYSE:ED)

Choate Investment Advisors increased its position in shares of Consolidated Edison, Inc. (NYSE:ED) by 6.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,402 shares of the utilities provider’s stock after purchasing an additional 135 shares during the quarter. Choate Investment Advisors’ holdings in Consolidated Edison were worth $214,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

ED has been the subject of a number of recent analyst reports. UBS Group increased their target price on shares of Consolidated Edison from $105.00 to $110.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 25th. Evercore ISI lowered shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 21st. Scotiabank increased their price objective on shares of Consolidated Edison from $100.00 to $101.00 and gave the stock a “sector perform” rating in a report on Monday, February 24th. Morgan Stanley decreased their price objective on shares of Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating on the stock in a report on Friday, November 22nd. Finally, Mizuho increased their price objective on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $101.50.

Consolidated Edison Stock Up 1.3 %

Shares of NYSE ED opened at $107.74 on Tuesday. The firm has a market capitalization of $37.36 billion, a PE ratio of 20.56, a price-to-earnings-growth ratio of 3.05 and a beta of 0.30. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.07. Consolidated Edison, Inc. has a 1 year low of $87.16 and a 1 year high of $110.01. The firm’s 50-day moving average is $96.35 and its 200-day moving average is $98.21.

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, beating the consensus estimate of $0.97 by $0.01. The company had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.63 billion. Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. Equities analysts expect that Consolidated Edison, Inc. will post 5.62 EPS for the current 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 paid a dividend of $0.85 per share. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.83. The ex-dividend date was Wednesday, February 19th. This represents a $3.40 annualized dividend and a yield of 3.16%. Consolidated Edison’s dividend payout ratio (DPR) is presently 64.89%.

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.