Shepherd Financial Partners LLC Acquires 586 Shares of Consolidated Edison, Inc. (ED)

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Shepherd Financial Partners LLC increased its holdings in Consolidated Edison, Inc. (NYSE:ED) by 4.1% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 14,895 shares of the utilities provider’s stock after purchasing an additional 586 shares during the quarter. Shepherd Financial Partners LLC’s holdings in Consolidated Edison were worth $1,135,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Rampart Investment Management Company LLC increased its position in shares of Consolidated Edison by 168.3% in the 4th quarter. Rampart Investment Management Company LLC now owns 23,837 shares of the utilities provider’s stock valued at $1,823,000 after acquiring an additional 14,954 shares during the period. Rational Advisors LLC increased its position in shares of Consolidated Edison by 21,521.6% in the 4th quarter. Rational Advisors LLC now owns 16,000 shares of the utilities provider’s stock valued at $1,223,000 after acquiring an additional 15,926 shares during the period. Piedmont Investment Advisors Inc. increased its position in shares of Consolidated Edison by 43.2% in the 4th quarter. Piedmont Investment Advisors Inc. now owns 4,631 shares of the utilities provider’s stock valued at $354,000 after acquiring an additional 1,398 shares during the period. Larson Financial Group LLC acquired a new position in shares of Consolidated Edison in the 4th quarter valued at $33,000. Finally, HL Financial Services LLC increased its position in shares of Consolidated Edison by 4.1% in the 4th quarter. HL Financial Services LLC now owns 6,261 shares of the utilities provider’s stock valued at $479,000 after acquiring an additional 245 shares during the period. 58.76% of the stock is owned by institutional investors.

Shares of ED stock traded up $0.27 during mid-day trading on Tuesday, hitting $78.78. 22,026 shares of the stock were exchanged, compared to its average volume of 2,192,885. The company has a quick ratio of 0.56, a current ratio of 0.62 and a debt-to-equity ratio of 0.97. Consolidated Edison, Inc. has a 52-week low of $71.12 and a 52-week high of $84.32. The firm has a market cap of $24.45 billion, a P/E ratio of 19.26, a PEG ratio of 6.01 and a beta of 0.12.

The company also recently announced a quarterly dividend, which will be paid on Friday, March 15th. Stockholders of record on Wednesday, February 13th will be paid a dividend of $0.74 per share. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.72. This represents a $2.96 annualized dividend and a dividend yield of 3.76%. The ex-dividend date of this dividend is Tuesday, February 12th. Consolidated Edison’s dividend payout ratio is presently 72.37%.

Several research firms have commented on ED. Zacks Investment Research raised shares of Consolidated Edison from a “hold” rating to a “buy” rating and set a $88.00 price target on the stock in a report on Wednesday, February 13th. Evercore ISI lowered shares of Consolidated Edison from an “in-line” rating to an “underperform” rating and set a $78.07 price target on the stock. in a report on Tuesday, February 12th. Morgan Stanley upped their price target on shares of Consolidated Edison from $78.00 to $81.00 and gave the company an “underweight” rating in a report on Tuesday, February 12th. Bank of America lowered shares of Consolidated Edison from a “buy” rating to a “neutral” rating in a report on Friday, January 18th. Finally, ValuEngine lowered shares of Consolidated Edison from a “buy” rating to a “hold” rating in a report on Wednesday, January 9th. Five analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $76.64.

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Consolidated Edison Profile

Consolidated Edison, Inc, through its subsidiaries, engages in regulated electric, gas, and steam delivery businesses in the United States. The company offers electric services to approximately 3.4 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 1,600 customers in parts of Manhattan.

Further Reading: Insider Trading

Want to see what other hedge funds are holding ED? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Consolidated Edison, Inc. (NYSE:ED).

Institutional Ownership by Quarter for Consolidated Edison (NYSE:ED)

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