Callan Capital LLC Raises Stock Position in Consolidated Edison, Inc. (NYSE:ED)

Callan Capital LLC increased its stake in Consolidated Edison, Inc. (NYSE:ED) by 13.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,260 shares of the utilities provider’s stock after acquiring an additional 613 shares during the quarter. Callan Capital LLC’s holdings in Consolidated Edison were worth $469,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Capital Performance Advisors LLP acquired a new stake in Consolidated Edison during the 3rd quarter worth $27,000. Ashton Thomas Securities LLC acquired a new stake in Consolidated Edison during the 3rd quarter worth $30,000. AlphaMark Advisors LLC acquired a new stake in Consolidated Edison during the 4th quarter worth $27,000. Centricity Wealth Management LLC acquired a new stake in Consolidated Edison during the 4th quarter worth $39,000. Finally, FSA Wealth Management LLC acquired a new stake in Consolidated Edison during the 3rd quarter worth $55,000. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Consolidated Edison Trading Up 2.6 %

NYSE ED opened at $98.27 on Friday. The firm’s 50-day moving average is $92.09 and its two-hundred day moving average is $97.98. Consolidated Edison, Inc. has a 12 month low of $85.85 and a 12 month high of $107.75. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93. The stock has a market capitalization of $34.04 billion, a P/E ratio of 18.75, a PEG ratio of 3.05 and a beta of 0.39.

Consolidated Edison (NYSE:ED) last posted its earnings results on Thursday, February 20th. The utilities provider reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.01. Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. The company had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.63 billion. On average, sell-side analysts anticipate that Consolidated Edison, Inc. will post 5.62 earnings per share for the current year.

Consolidated Edison Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th will be given a $0.85 dividend. The ex-dividend date is Wednesday, February 19th. This represents a $3.40 dividend on an annualized basis and a yield of 3.46%. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.83. Consolidated Edison’s dividend payout ratio is presently 64.89%.

Analyst Ratings Changes

ED has been the topic of several recent research reports. Barclays lowered their target price on shares of Consolidated Edison from $99.00 to $92.00 and set an “underweight” rating on the stock in a research note on Monday, January 27th. Morgan Stanley lowered their target price on shares of Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating on the stock in a research note on Friday, November 22nd. Scotiabank raised shares of Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and lifted their target price for the stock from $90.00 to $100.00 in a research note on Thursday, December 12th. Evercore ISI cut shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 21st. Finally, Mizuho boosted their price target on shares of Consolidated Edison from $92.00 to $95.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $100.70.

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.