United Capital Financial Advisors LLC Acquires 770 Shares of Consolidated Edison, Inc. (NYSE:ED)

United Capital Financial Advisors LLC raised its holdings in Consolidated Edison, Inc. (NYSE:ED) by 8.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,088 shares of the utilities provider’s stock after purchasing an additional 770 shares during the period. United Capital Financial Advisors LLC’s holdings in Consolidated Edison were worth $900,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

Several equities research analysts have weighed in on ED shares. Morgan Stanley upped their target price on Consolidated Edison from $85.00 to $91.00 and gave the stock an “underweight” rating in a research note on Thursday, March 20th. Citigroup upped their price objective on Consolidated Edison from $116.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, April 9th. Barclays lifted their target price on Consolidated Edison from $92.00 to $95.00 and gave the company an “underweight” rating in a research report on Monday, February 24th. Scotiabank increased their target price 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. Finally, Mizuho upped their price objective on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Consolidated Edison has a consensus rating of “Hold” and an average target price of $102.80.

Consolidated Edison Trading Up 0.4 %

Shares of NYSE ED opened at $111.94 on Friday. The stock has a market cap of $40.32 billion, a P/E ratio of 21.36, a price-to-earnings-growth ratio of 3.05 and a beta of 0.27. The firm has a 50 day moving average price of $104.76 and a two-hundred day moving average price of $99.20. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01. Consolidated Edison, Inc. has a 52-week low of $87.28 and a 52-week high of $114.87.

Consolidated Edison (NYSE:ED) last announced its earnings results on Thursday, February 20th. The utilities provider reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.01. The business had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.63 billion. Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. As a group, equities analysts forecast that Consolidated Edison, Inc. will post 5.62 EPS for the current year.

Consolidated Edison Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Wednesday, May 14th will be paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.04%. Consolidated Edison’s dividend payout ratio is currently 64.89%.

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.