Savant Capital LLC Grows Stock Holdings in Consolidated Edison, Inc. (NYSE:ED)

Savant Capital LLC lifted its position in shares of Consolidated Edison, Inc. (NYSE:ED) by 2.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,655 shares of the utilities provider’s stock after purchasing an additional 170 shares during the period. Savant Capital LLC’s holdings in Consolidated Edison were worth $696,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of ED. Raymond James Financial Services Advisors Inc. lifted its position in shares of Consolidated Edison by 6.5% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 110,604 shares of the utilities provider’s stock worth $9,460,000 after purchasing an additional 6,715 shares during the last quarter. Stratos Wealth Partners LTD. lifted its position in shares of Consolidated Edison by 43.2% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 9,764 shares of the utilities provider’s stock worth $835,000 after purchasing an additional 2,944 shares during the last quarter. Mn Services Vermogensbeheer B.V. raised its stake in Consolidated Edison by 2.8% during the 3rd quarter. Mn Services Vermogensbeheer B.V. now owns 169,600 shares of the utilities provider’s stock worth $14,506,000 after acquiring an additional 4,600 shares in the last quarter. Pinnacle Wealth Management Advisory Group LLC raised its stake in Consolidated Edison by 6.8% during the 3rd quarter. Pinnacle Wealth Management Advisory Group LLC now owns 3,304 shares of the utilities provider’s stock worth $283,000 after acquiring an additional 209 shares in the last quarter. Finally, GPS Wealth Strategies Group LLC raised its stake in Consolidated Edison by 4.6% during the 3rd quarter. GPS Wealth Strategies Group LLC now owns 3,909 shares of the utilities provider’s stock worth $334,000 after acquiring an additional 171 shares in the last quarter. 66.29% of the stock is owned by hedge funds and other institutional investors.

Consolidated Edison Trading Up 0.3 %

Shares of Consolidated Edison stock opened at $95.56 on Friday. Consolidated Edison, Inc. has a 52-week low of $80.46 and a 52-week high of $100.44. The company has a quick ratio of 0.94, a current ratio of 1.01 and a debt-to-equity ratio of 1.04. The company’s 50-day simple moving average is $90.21 and its 200-day simple moving average is $90.13. The firm has a market cap of $33.02 billion, a price-to-earnings ratio of 18.34, a price-to-earnings-growth ratio of 8.99 and a beta of 0.34.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Thursday, May 2nd. The utilities provider reported $2.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.89 by $0.26. Consolidated Edison had a net margin of 12.43% and a return on equity of 8.86%. The business had revenue of $4.28 billion for the quarter, compared to analyst estimates of $4.40 billion. During the same period in the previous year, the business posted $1.83 earnings per share. The business’s revenue was down 2.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Consolidated Edison, Inc. will post 5.31 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Wednesday, May 15th will be paid a dividend of $0.83 per share. The ex-dividend date is Tuesday, May 14th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.47%. Consolidated Edison’s dividend payout ratio (DPR) is 63.72%.

Analysts Set New Price Targets

Several brokerages recently commented on ED. Barclays lifted their price target on shares of Consolidated Edison from $86.00 to $87.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 14th. UBS Group cut their price target on shares of Consolidated Edison from $99.00 to $94.00 and set a “neutral” rating on the stock in a research note on Friday, February 16th. Scotiabank cut their price target on shares of Consolidated Edison from $91.00 to $85.00 and set a “sector underperform” rating on the stock in a research note on Monday, April 22nd. Wells Fargo & Company lifted their price target on shares of Consolidated Edison from $93.00 to $97.00 and gave the stock an “equal weight” rating in a research note on Friday. Finally, Royal Bank of Canada dropped their price objective on shares of Consolidated Edison from $94.00 to $93.00 and set a “sector perform” rating on the stock in a research note on Friday, February 16th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $87.75.

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.