Regal Investment Advisors LLC Buys 581 Shares of Consolidated Edison, Inc. (NYSE:ED)

Regal Investment Advisors LLC raised its stake in Consolidated Edison, Inc. (NYSE:ED) by 1.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 53,585 shares of the utilities provider’s stock after buying an additional 581 shares during the period. Regal Investment Advisors LLC’s holdings in Consolidated Edison were worth $4,781,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in ED. Wellington Management Group LLP purchased a new stake in shares of Consolidated Edison in the third quarter valued at approximately $216,000. Barclays PLC lifted its holdings in shares of Consolidated Edison by 30.1% in the 3rd quarter. Barclays PLC now owns 1,231,924 shares of the utilities provider’s stock worth $128,279,000 after buying an additional 285,115 shares during the period. M&T Bank Corp grew its position in shares of Consolidated Edison by 5.0% during the 3rd quarter. M&T Bank Corp now owns 58,398 shares of the utilities provider’s stock worth $6,081,000 after buying an additional 2,795 shares in the last quarter. Sanctuary Advisors LLC increased its stake in shares of Consolidated Edison by 23.6% during the third quarter. Sanctuary Advisors LLC now owns 55,318 shares of the utilities provider’s stock valued at $5,441,000 after buying an additional 10,568 shares during the period. Finally, World Investment Advisors LLC purchased a new position in shares of Consolidated Edison during the third quarter valued at $453,000. 66.29% of the stock is currently owned by institutional investors.

Consolidated Edison Price Performance

Shares of NYSE ED opened at $112.11 on Tuesday. Consolidated Edison, Inc. has a fifty-two week low of $87.28 and a fifty-two week high of $114.87. The company has a market cap of $40.38 billion, a PE ratio of 21.40, a P/E/G ratio of 3.05 and a beta of 0.27. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01. The business has a 50-day simple moving average of $103.50 and a two-hundred day simple moving average of $98.96.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings data on Thursday, February 20th. The utilities provider reported $0.98 EPS for the quarter, beating the consensus estimate of $0.97 by $0.01. The firm had revenue of $3.67 billion during 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%. As a group, equities analysts expect that Consolidated Edison, Inc. will post 5.62 EPS for the current fiscal year.

Consolidated Edison Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Wednesday, February 19th were issued a dividend of $0.85 per share. The ex-dividend date was Wednesday, February 19th. This is a positive change 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 3.03%. Consolidated Edison’s payout ratio is 64.89%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ED. Citigroup upped their price objective on shares of Consolidated Edison from $116.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, April 9th. UBS Group increased their price objective 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. Barclays boosted their price objective on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock an “underweight” rating in a research note on Monday, February 24th. Evercore ISI lowered Consolidated Edison from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 21st. Finally, Scotiabank lifted their price target on Consolidated Edison from $100.00 to $101.00 and gave the company a “sector perform” rating in a 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. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $102.80.

Consolidated Edison Company 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.