Consolidated Edison, Inc. (NYSE:ED) Shares Purchased by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC raised its holdings in Consolidated Edison, Inc. (NYSE:ED) by 466.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,620 shares of the utilities provider’s stock after acquiring an additional 1,334 shares during the period. EverSource Wealth Advisors LLC’s holdings in Consolidated Edison were worth $145,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. AlphaMark Advisors LLC purchased a new position in shares of Consolidated Edison during the 4th quarter worth $27,000. OFI Invest Asset Management acquired a new stake in Consolidated Edison during the fourth quarter worth about $35,000. Fairway Wealth LLC purchased a new position in Consolidated Edison during the fourth quarter worth about $36,000. Centricity Wealth Management LLC acquired a new position in Consolidated Edison in the 4th quarter valued at about $39,000. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new position in Consolidated Edison in the 4th quarter valued at about $44,000. 66.29% of the stock is owned by hedge funds and other institutional investors.

Consolidated Edison Trading Up 1.3 %

ED opened at $107.74 on Tuesday. The business has a fifty day moving average price of $96.35 and a 200 day moving average price of $98.21. 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, Inc. has a 12 month low of $87.16 and a 12 month high of $108.43. The stock has a market capitalization of $37.36 billion, a price-to-earnings ratio of 20.56, a PEG ratio of 3.05 and a beta of 0.30.

Consolidated Edison (NYSE:ED) last released its 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 firm had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.63 billion. Sell-side analysts expect that Consolidated Edison, Inc. will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Wednesday, February 19th were given a dividend of $0.85 per share. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.83. This represents a $3.40 annualized dividend and a dividend yield of 3.16%. The ex-dividend date of this dividend was Wednesday, February 19th. Consolidated Edison’s payout ratio is 64.89%.

Wall Street Analysts Forecast Growth

ED has been the topic of several analyst reports. Barclays lifted their price target on shares of Consolidated Edison from $92.00 to $95.00 and gave the company an “underweight” rating in a research report on Monday, February 24th. UBS Group lifted their target price on Consolidated Edison from $105.00 to $110.00 and gave the company a “neutral” rating in a research report on Tuesday, February 25th. Morgan Stanley lowered their price target on Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating for the company in a report on Friday, November 22nd. Evercore ISI lowered shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 21st. Finally, 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 research note on Monday, February 24th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $101.50.

Consolidated Edison 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.