Buck Wealth Strategies LLC Acquires 3,430 Shares of Consolidated Edison, Inc. (NYSE:ED)

Buck Wealth Strategies LLC lifted its stake in Consolidated Edison, Inc. (NYSE:ED) by 69.5% in the 4th quarter, HoldingsChannel reports. The firm owned 8,367 shares of the utilities provider’s stock after buying an additional 3,430 shares during the quarter. Buck Wealth Strategies LLC’s holdings in Consolidated Edison were worth $747,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the stock. Capital Performance Advisors LLP purchased a new position in Consolidated Edison during the third quarter valued at $27,000. AlphaMark Advisors LLC bought a new stake in Consolidated Edison during the fourth quarter worth about $27,000. Ashton Thomas Securities LLC bought a new stake in Consolidated Edison during the third quarter worth about $30,000. CGC Financial Services LLC increased its stake in shares of Consolidated Edison by 64.0% during the fourth quarter. CGC Financial Services LLC now owns 546 shares of the utilities provider’s stock valued at $49,000 after purchasing an additional 213 shares in the last quarter. Finally, Future Financial Wealth Managment LLC purchased a new position in shares of Consolidated Edison during the third quarter valued at approximately $55,000. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Stock Up 1.3 %

Shares of ED stock opened at $96.19 on Thursday. The company’s fifty day simple moving average is $92.17 and its two-hundred day simple moving average is $98.14. Consolidated Edison, Inc. has a 52 week low of $85.85 and a 52 week high of $107.75. The stock has a market cap of $33.32 billion, a P/E ratio of 18.12, a PEG ratio of 2.99 and a beta of 0.39. 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 posted its earnings results on Thursday, November 7th. The utilities provider reported $1.68 EPS for the quarter, topping analysts’ consensus estimates of $1.56 by $0.12. Consolidated Edison had a return on equity of 8.70% and a net margin of 12.27%. The company had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $4.02 billion. Analysts predict that Consolidated Edison, Inc. will post 5.35 EPS for the current fiscal year.

Consolidated Edison Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Wednesday, February 19th will be issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 3.53%. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend is Wednesday, February 19th. Consolidated Edison’s dividend payout ratio is 62.52%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Scotiabank raised Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and boosted their target price for the stock from $90.00 to $100.00 in a report on Thursday, December 12th. Evercore ISI cut shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 21st. Citigroup upgraded shares of Consolidated Edison from a “neutral” rating to a “buy” rating and increased their price target for the company from $103.00 to $116.00 in a report on Tuesday, October 15th. Barclays decreased their price objective on shares of Consolidated Edison from $99.00 to $92.00 and set an “underweight” rating for the company in a report on Monday, January 27th. Finally, Morgan Stanley lowered their price target on Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating on the stock in a report on Friday, November 22nd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Consolidated Edison presently has a consensus 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.