Dakota Wealth Management Grows Position in Consolidated Edison, Inc. (NYSE:ED)

Dakota Wealth Management lifted its stake in Consolidated Edison, Inc. (NYSE:ED) by 21.7% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,999 shares of the utilities provider’s stock after buying an additional 2,500 shares during the quarter. Dakota Wealth Management’s holdings in Consolidated Edison were worth $1,249,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Capital Performance Advisors LLP purchased a new stake in Consolidated Edison during the third quarter valued at $27,000. Ashton Thomas Securities LLC purchased a new stake in Consolidated Edison during the third quarter valued at $30,000. Future Financial Wealth Managment LLC purchased a new stake in Consolidated Edison during the third quarter valued at $55,000. FSA Wealth Management LLC purchased a new stake in Consolidated Edison during the third quarter valued at $55,000. Finally, Webster Bank N. A. raised its stake in Consolidated Edison by 189.5% during 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 in the last quarter. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Analyst Ratings Changes

ED has been the topic of a number of recent research reports. Scotiabank raised shares of Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and upped their price target for the company from $90.00 to $100.00 in a research note on Thursday, December 12th. Morgan Stanley cut their price objective on shares of Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating on the stock in a research report on Friday, November 22nd. Barclays cut their price objective on shares of Consolidated Edison from $104.00 to $99.00 and set an “underweight” rating on the stock in a research report on Friday, November 8th. Jefferies Financial Group began coverage on shares of Consolidated Edison in a report on Wednesday, October 9th. They issued a “hold” rating and a $108.00 price target on the stock. Finally, Evercore ISI upgraded shares of Consolidated Edison from a “hold” rating to a “strong-buy” rating in a report on Friday, November 8th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Consolidated Edison presently has a consensus rating of “Hold” and a consensus price target of $100.64.

Consolidated Edison Stock Down 0.0 %

NYSE:ED opened at $90.75 on Friday. Consolidated Edison, Inc. has a 1-year low of $85.85 and a 1-year high of $107.75. The company has a 50-day moving average of $93.08 and a 200 day moving average of $97.98. The firm has a market cap of $31.44 billion, a PE ratio of 17.09, a price-to-earnings-growth ratio of 2.97 and a beta of 0.38. 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 (NYSE:ED) last released its quarterly earnings results on Thursday, November 7th. The utilities provider reported $1.68 EPS for the quarter, beating the consensus estimate 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%. As a group, research analysts anticipate that Consolidated Edison, Inc. will post 5.35 EPS for the current fiscal year.

Consolidated Edison Increases Dividend

The business also recently disclosed 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 a positive change from Consolidated Edison’s previous quarterly dividend of $0.83. This represents a $3.40 annualized dividend and a dividend yield of 3.75%. The ex-dividend date of this dividend is Wednesday, February 19th. Consolidated Edison’s dividend payout ratio (DPR) is presently 62.52%.

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.