Consolidated Edison, Inc. (NYSE:ED) Shares Acquired by Onyx Bridge Wealth Group LLC

Onyx Bridge Wealth Group LLC boosted its holdings in Consolidated Edison, Inc. (NYSE:ED) by 2.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 15,619 shares of the utilities provider’s stock after acquiring an additional 381 shares during the period. Onyx Bridge Wealth Group LLC’s holdings in Consolidated Edison were worth $1,394,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. TD Private Client Wealth LLC increased its stake in Consolidated Edison by 4.7% in the 3rd quarter. TD Private Client Wealth LLC now owns 2,334 shares of the utilities provider’s stock worth $243,000 after purchasing an additional 104 shares in the last quarter. D.A. Davidson & CO. raised its stake in shares of Consolidated Edison by 1.1% in the 3rd quarter. D.A. Davidson & CO. now owns 11,142 shares of the utilities provider’s stock valued at $1,160,000 after buying an additional 124 shares in the last quarter. Townsquare Capital LLC boosted its stake in shares of Consolidated Edison by 2.4% in the 3rd quarter. Townsquare Capital LLC now owns 5,574 shares of the utilities provider’s stock valued at $580,000 after purchasing an additional 130 shares in the last quarter. Trust Point Inc. lifted its position in Consolidated Edison by 4.9% during the 4th quarter. Trust Point Inc. now owns 2,790 shares of the utilities provider’s stock worth $249,000 after buying an additional 131 shares in the last quarter. Finally, Brookstone Capital Management boosted its holdings in Consolidated Edison by 0.6% in the third quarter. Brookstone Capital Management now owns 24,173 shares of the utilities provider’s stock valued at $2,517,000 after acquiring an additional 136 shares during the last quarter. Institutional investors own 66.29% of the company’s stock.

Analyst Ratings Changes

ED has been the subject of several recent analyst reports. Mizuho increased their price target on Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a report on Monday. Evercore ISI downgraded shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 21st. Barclays decreased their price target on shares of Consolidated Edison from $99.00 to $92.00 and set an “underweight” rating for the company in a research report on Monday, January 27th. Scotiabank raised shares of Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and lifted their price target for the company from $90.00 to $100.00 in a research note on Thursday, December 12th. Finally, Jefferies Financial Group assumed coverage on shares of Consolidated Edison in a report on Wednesday, October 9th. They set a “hold” rating and a $108.00 price objective on the stock. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Consolidated Edison presently has an average rating of “Hold” and a consensus target price of $100.00.

Consolidated Edison Price Performance

Shares of Consolidated Edison stock opened at $96.19 on Thursday. The company’s fifty day simple moving average is $92.28 and its two-hundred day simple moving average is $98.15. The firm has a market cap of $33.32 billion, a PE ratio of 18.12, a price-to-earnings-growth ratio of 2.99 and a beta of 0.39. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07. Consolidated Edison, Inc. has a 12-month low of $85.85 and a 12-month high of $107.75.

Consolidated Edison (NYSE:ED) last released its quarterly earnings results on Thursday, November 7th. The utilities provider reported $1.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.56 by $0.12. The firm had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $4.02 billion. Consolidated Edison had a return on equity of 8.70% and a net margin of 12.27%. As a group, equities analysts expect that Consolidated Edison, Inc. will post 5.35 EPS for the current year.

Consolidated Edison Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Wednesday, February 19th will be given a $0.85 dividend. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.83. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.53%. The ex-dividend date is Wednesday, February 19th. Consolidated Edison’s payout ratio is currently 64.03%.

About Consolidated Edison

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.