Consolidated Edison, Inc. (NYSE:ED) Shares Purchased by James J. Burns & Company LLC

James J. Burns & Company LLC raised its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 61.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,947 shares of the utilities provider’s stock after acquiring an additional 3,790 shares during the period. James J. Burns & Company LLC’s holdings in Consolidated Edison were worth $888,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in ED. Capital Performance Advisors LLP purchased a new position in Consolidated Edison during the third quarter worth about $27,000. AlphaMark Advisors LLC acquired a new position in Consolidated Edison during the 4th quarter worth approximately $27,000. Ashton Thomas Securities LLC purchased a new position in shares of Consolidated Edison during the 3rd quarter worth approximately $30,000. CGC Financial Services LLC lifted its holdings in shares of Consolidated Edison by 64.0% in the 4th quarter. CGC Financial Services LLC now owns 546 shares of the utilities provider’s stock valued at $49,000 after buying an additional 213 shares during the period. Finally, Future Financial Wealth Managment LLC purchased a new stake in shares of Consolidated Edison in the third quarter valued at approximately $55,000. 66.29% of the stock is owned by institutional investors and hedge funds.

Consolidated Edison Stock Up 2.2 %

ED opened at $95.76 on Tuesday. The business’s fifty day simple moving average is $92.49 and its 200 day simple moving average is $98.14. Consolidated Edison, Inc. has a 52 week low of $85.85 and a 52 week high of $107.75. The firm has a market cap of $33.17 billion, a P/E ratio of 18.03, a PEG 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 (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 the consensus estimate of $1.56 by $0.12. The company had revenue of $4.09 billion for the quarter, compared to analysts’ expectations of $4.02 billion. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.70%. As a group, equities research analysts anticipate that Consolidated Edison, Inc. will post 5.35 EPS for the current fiscal year.

Consolidated Edison Increases Dividend

The firm also recently declared 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 3.55%. The ex-dividend date is Wednesday, February 19th. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.83. Consolidated Edison’s dividend payout ratio is currently 62.52%.

Analysts Set New Price Targets

A number of equities research analysts have commented on ED shares. Mizuho raised their target price on Consolidated Edison from $92.00 to $95.00 and gave the company a “neutral” rating in a report on Monday. Jefferies Financial Group initiated coverage on shares of Consolidated Edison in a research note on Wednesday, October 9th. They issued a “hold” rating and a $108.00 price objective for the company. Citigroup upgraded shares of Consolidated Edison from a “neutral” rating to a “buy” rating and upped their target price for the stock from $103.00 to $116.00 in a research report on Tuesday, October 15th. Barclays reduced 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. Finally, Scotiabank raised Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and boosted their price target for the stock from $90.00 to $100.00 in a research note on Thursday, December 12th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $100.00.

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.