Physician Wealth Advisors Inc. Invests $100,000 in Consolidated Edison, Inc. (NYSE:ED)

Physician Wealth Advisors Inc. bought a new stake in Consolidated Edison, Inc. (NYSE:ED) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 1,124 shares of the utilities provider’s stock, valued at approximately $100,000.

Several other institutional investors and hedge funds have also bought and sold shares of ED. CIBC Private Wealth Group LLC grew its position in shares of Consolidated Edison by 1,327.9% in the 4th quarter. CIBC Private Wealth Group LLC now owns 322,436 shares of the utilities provider’s stock valued at $28,700,000 after acquiring an additional 299,855 shares during the period. Schroder Investment Management Group lifted its stake in Consolidated Edison by 33.6% in the 4th quarter. Schroder Investment Management Group now owns 628,438 shares of the utilities provider’s stock valued at $56,032,000 after purchasing an additional 157,976 shares during the last quarter. Allianz SE bought a new position in Consolidated Edison during the fourth quarter worth about $246,000. Allstate Corp acquired a new position in Consolidated Edison during the fourth quarter worth approximately $950,000. Finally, DnB Asset Management AS raised its stake in Consolidated Edison by 7.8% in the fourth quarter. DnB Asset Management AS now owns 153,137 shares of the utilities provider’s stock valued at $13,664,000 after buying an additional 11,069 shares during the period. Institutional investors own 66.29% of the company’s stock.

Wall Street Analysts Forecast Growth

ED has been the topic of a number of recent analyst reports. Morgan Stanley boosted their target price on Consolidated Edison from $85.00 to $91.00 and gave the stock an “underweight” rating in a report on Thursday, March 20th. Mizuho upped their price objective on shares of Consolidated Edison from $92.00 to $95.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Evercore ISI cut shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 21st. UBS Group upped their price target on shares of Consolidated Edison from $110.00 to $113.00 and gave the company a “neutral” rating in a research note on Friday, March 21st. Finally, Scotiabank raised their price objective 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. Two analysts have rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $102.40.

Consolidated Edison Trading Up 0.9 %

Shares of ED stock opened at $108.81 on Monday. The stock has a 50 day simple moving average of $99.56 and a 200 day simple moving average of $98.47. Consolidated Edison, Inc. has a 1 year low of $87.28 and a 1 year high of $109.44. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.07. The stock has a market cap of $37.73 billion, a P/E ratio of 20.77, a price-to-earnings-growth 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, beating analysts’ consensus estimates of $0.97 by $0.01. The firm had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.63 billion. Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. On average, research analysts predict that Consolidated Edison, Inc. will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Wednesday, February 19th were issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.12%. 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%.

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.