Consolidated Edison, Inc. (NYSE:ED) Shares Acquired by Sound View Wealth Advisors Group LLC

Sound View Wealth Advisors Group LLC grew its holdings in Consolidated Edison, Inc. (NYSE:ED) by 12.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,350 shares of the utilities provider’s stock after buying an additional 3,239 shares during the quarter. Sound View Wealth Advisors Group LLC’s holdings in Consolidated Edison were worth $2,619,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Capital Performance Advisors LLP acquired a new stake in shares of Consolidated Edison in the 3rd quarter valued at approximately $27,000. AlphaMark Advisors LLC acquired a new position in Consolidated Edison during the fourth quarter worth $27,000. Ashton Thomas Securities LLC acquired a new position in Consolidated Edison during the third quarter worth $30,000. OFI Invest Asset Management acquired a new position in Consolidated Edison during the fourth quarter worth $35,000. Finally, Centricity Wealth Management LLC acquired a new position in Consolidated Edison during the fourth quarter worth $39,000. 66.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Morgan Stanley reduced their price objective on Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating for the company in a report on Friday, November 22nd. Scotiabank lifted their price objective on Consolidated Edison from $100.00 to $101.00 and gave the stock a “sector perform” rating in a report on Monday, February 24th. Barclays raised their price target on Consolidated Edison from $92.00 to $95.00 and gave the stock an “underweight” rating in a research report on Monday, February 24th. UBS Group raised their price target on Consolidated Edison from $105.00 to $110.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 25th. Finally, Mizuho raised their price target 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 equities research analysts have rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Consolidated Edison presently has an average rating of “Hold” and an average price target of $101.50.

Consolidated Edison Price Performance

Shares of NYSE:ED opened at $103.73 on Friday. The company has a market cap of $35.97 billion, a P/E ratio of 19.80, a P/E/G ratio of 3.05 and a beta of 0.30. 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 52 week low of $87.16 and a 52 week high of $107.75. The business has a fifty day simple moving average of $94.39 and a 200-day simple moving average of $98.03.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings results on Thursday, February 20th. The utilities provider reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.01. Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. The firm had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.63 billion. Equities research analysts forecast 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 will be paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th will be paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date is Wednesday, February 19th. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.83. Consolidated Edison’s payout ratio is currently 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.