2,336 Shares in Consolidated Edison, Inc. (NYSE:ED) Bought by Grandview Asset Management LLC

Grandview Asset Management LLC acquired a new stake in Consolidated Edison, Inc. (NYSE:ED) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 2,336 shares of the utilities provider’s stock, valued at approximately $208,000.

Other institutional investors also recently bought and sold shares of the company. Capital Performance Advisors LLP acquired a new position in Consolidated Edison during the third quarter worth $27,000. Ashton Thomas Securities LLC purchased a new stake in shares of Consolidated Edison during the 3rd quarter worth $30,000. Future Financial Wealth Managment LLC acquired a new position in shares of Consolidated Edison during the 3rd quarter worth $55,000. FSA Wealth Management LLC purchased a new position in shares of Consolidated Edison in the 3rd quarter valued at about $55,000. Finally, Webster Bank N. A. lifted its stake in shares of Consolidated Edison by 189.5% in the third quarter. Webster Bank N. A. now owns 579 shares of the utilities provider’s stock valued at $60,000 after purchasing an additional 379 shares during the period. 66.29% of the stock is owned by institutional investors and hedge funds.

Consolidated Edison Trading Up 0.3 %

Consolidated Edison stock opened at $88.38 on Tuesday. The stock has a market cap of $30.62 billion, a PE ratio of 16.64, a P/E/G ratio of 3.11 and a beta of 0.38. 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 50-day moving average price of $93.93 and a 200 day moving average price of $97.90. Consolidated Edison, Inc. has a 52 week low of $85.85 and a 52 week high of $107.75.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings data on Thursday, November 7th. The utilities provider reported $1.68 earnings per share for the quarter, beating analysts’ consensus estimates of $1.56 by $0.12. The business had revenue of $4.09 billion during the quarter, compared to analyst estimates of $4.02 billion. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.70%. Equities research analysts predict that Consolidated Edison, Inc. will post 5.34 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Wednesday, November 13th were paid a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.76%. The ex-dividend date was Wednesday, November 13th. Consolidated Edison’s dividend payout ratio is presently 62.52%.

Wall Street Analysts Forecast Growth

ED has been the topic of several recent analyst reports. Jefferies Financial Group began coverage on shares of Consolidated Edison in a research report on Wednesday, October 9th. They set a “hold” rating and a $108.00 target price on the stock. Citigroup upgraded Consolidated Edison from a “neutral” rating to a “buy” rating and upped their price target for the stock from $103.00 to $116.00 in a report on Tuesday, October 15th. UBS Group lifted their price objective on Consolidated Edison from $105.00 to $106.00 and gave the stock a “neutral” rating in a report on Friday, September 20th. Scotiabank raised Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and upped their target price for the company from $90.00 to $100.00 in a report on Thursday, December 12th. Finally, Evercore ISI raised Consolidated Edison from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 8th. 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 two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $100.64.

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.