Greenleaf Trust Increases Stock Holdings in Consolidated Edison, Inc. (NYSE:ED)

Greenleaf Trust raised its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 5.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,559 shares of the utilities provider’s stock after purchasing an additional 412 shares during the quarter. Greenleaf Trust’s holdings in Consolidated Edison were worth $764,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new stake in shares of Consolidated Edison during the third quarter valued at approximately $27,000. AlphaMark Advisors LLC bought a new stake in shares of Consolidated Edison during the 4th quarter valued at $27,000. Ashton Thomas Securities LLC purchased a new stake in shares of Consolidated Edison in the 3rd quarter worth about $30,000. Future Financial Wealth Managment LLC bought a new position in shares of Consolidated Edison in the 3rd quarter worth about $55,000. Finally, FSA Wealth Management LLC bought a new position in shares of Consolidated Edison in the 3rd quarter worth about $55,000. 66.29% of the stock is currently owned by institutional investors.

Consolidated Edison Stock Down 0.7 %

ED opened at $94.96 on Wednesday. The stock has a market capitalization of $32.89 billion, a price-to-earnings ratio of 17.88, a PEG ratio of 2.99 and a beta of 0.39. The firm has a 50 day moving average price of $92.42 and a 200-day moving average price of $98.15. Consolidated Edison, Inc. has a twelve month low of $85.85 and a twelve month high of $107.75. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07.

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

Consolidated Edison Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th will be paid a dividend of $0.85 per share. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.83. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.58%. The ex-dividend date is Wednesday, February 19th. Consolidated Edison’s payout ratio is currently 62.52%.

Analysts Set New Price Targets

ED has been the topic of a number of recent research reports. Scotiabank upgraded shares of Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and upped their price objective for the stock from $90.00 to $100.00 in a report on Thursday, December 12th. Morgan Stanley lowered their price objective on Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating for the company in a research note on Friday, November 22nd. Barclays cut their target price on Consolidated Edison from $99.00 to $92.00 and set an “underweight” rating on the stock in a research note on Monday, January 27th. Mizuho upped their price target on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a research note on Monday. Finally, Jefferies Financial Group started coverage on shares of Consolidated Edison in a research report on Wednesday, October 9th. They set a “hold” rating and a $108.00 price objective on the stock. Two analysts have rated the stock with a sell rating, eight have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Consolidated Edison has an average rating of “Hold” and an average price target of $100.00.

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.