Modera Wealth Management LLC Boosts Position in Consolidated Edison, Inc. (NYSE:ED)

Modera Wealth Management LLC raised its stake in Consolidated Edison, Inc. (NYSE:ED) by 11.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,873 shares of the utilities provider’s stock after purchasing an additional 1,418 shares during the period. Modera Wealth Management LLC’s holdings in Consolidated Edison were worth $1,238,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new position in shares of Consolidated Edison in the 3rd quarter valued at $27,000. AlphaMark Advisors LLC purchased a new stake in Consolidated Edison in the fourth quarter valued at $27,000. Ashton Thomas Securities LLC acquired a new position in Consolidated Edison in the third quarter valued at $30,000. Centricity Wealth Management LLC purchased a new position in shares of Consolidated Edison during the fourth quarter worth about $39,000. Finally, CGC Financial Services LLC increased its position 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 worth $49,000 after purchasing an additional 213 shares in the last quarter. Institutional investors and hedge funds own 66.29% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the company. Evercore ISI lowered Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 21st. Scotiabank upped their target price on shares of Consolidated Edison from $100.00 to $101.00 and gave the company a “sector perform” rating in a report on Monday, February 24th. Barclays increased their target price on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock an “underweight” rating in a research note on Monday, February 24th. UBS Group boosted their price target on Consolidated Edison from $105.00 to $110.00 and gave the company a “neutral” rating in a research report on Tuesday, February 25th. Finally, Mizuho increased their price objective on Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Two analysts have rated the stock with a sell rating, seven have given 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, Consolidated Edison currently has an average rating of “Hold” and an average target price of $101.50.

Consolidated Edison Stock Up 2.5 %

Consolidated Edison stock opened at $104.09 on Tuesday. The stock’s 50 day moving average price is $93.42 and its 200 day moving average price is $97.97. Consolidated Edison, Inc. has a 1-year low of $86.56 and a 1-year high of $107.75. The company has a market cap of $36.09 billion, a PE ratio of 19.86, a price-to-earnings-growth ratio of 3.05 and a beta of 0.39. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93.

Consolidated Edison (NYSE:ED) last issued its earnings results on Thursday, February 20th. The utilities provider reported $0.98 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $3.63 billion. On average, sell-side analysts predict that Consolidated Edison, Inc. will post 5.62 EPS for the current fiscal 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 issued a $0.85 dividend. The ex-dividend date of this dividend is Wednesday, February 19th. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.83. This represents a $3.40 dividend on an annualized basis and a yield of 3.27%. Consolidated Edison’s dividend payout ratio (DPR) is 64.89%.

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.