Harrington Investments INC Buys 240 Shares of Consolidated Edison, Inc. (NYSE:ED)

Harrington Investments INC increased its holdings in Consolidated Edison, Inc. (NYSE:ED) by 0.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,369 shares of the utilities provider’s stock after acquiring an additional 240 shares during the quarter. Consolidated Edison comprises about 1.3% of Harrington Investments INC’s investment portfolio, making the stock its 26th biggest holding. Harrington Investments INC’s holdings in Consolidated Edison were worth $2,442,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Ashton Thomas Securities LLC purchased a new stake in Consolidated Edison during the 3rd quarter valued at about $30,000. AlphaMark Advisors LLC bought a new stake in shares of Consolidated Edison during the fourth quarter valued at approximately $27,000. Fairway Wealth LLC bought a new position in Consolidated Edison in the 4th quarter valued at approximately $36,000. OFI Invest Asset Management purchased a new stake in Consolidated Edison during the 4th quarter valued at $35,000. Finally, Centricity Wealth Management LLC bought a new stake in shares of Consolidated Edison in the 4th quarter worth $39,000. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Trading Up 1.9 %

Shares of NYSE:ED opened at $106.60 on Friday. The stock has a 50 day moving average of $95.96 and a 200 day moving average of $98.19. The company has a market cap of $36.97 billion, a PE ratio of 20.34, a price-to-earnings-growth ratio of 3.05 and a beta of 0.30. Consolidated Edison, Inc. has a 12-month low of $87.16 and a 12-month high of $107.97. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.07.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings results on Thursday, February 20th. The utilities provider reported $0.98 earnings per share for the quarter, topping 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 business had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.63 billion. As a group, equities research analysts expect that Consolidated Edison, Inc. will post 5.62 EPS for the current year.

Consolidated Edison Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th were issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 3.19%. The ex-dividend date of this dividend was Wednesday, February 19th. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.83. Consolidated Edison’s dividend payout ratio is 64.89%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Morgan Stanley dropped their price objective on Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating on the stock in a research report on Friday, November 22nd. UBS Group boosted their price objective on shares of Consolidated Edison from $105.00 to $110.00 and gave the company a “neutral” rating in a report on Tuesday, February 25th. Scotiabank lifted their target price on shares of Consolidated Edison from $100.00 to $101.00 and gave the stock a “sector perform” rating in a research report on Monday, February 24th. Mizuho increased their price target on Consolidated Edison from $92.00 to $95.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Finally, Barclays lifted their price objective on Consolidated Edison from $92.00 to $95.00 and gave the stock an “underweight” rating in a report on Monday, February 24th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $101.50.

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.