Consolidated Edison, Inc. (NYSE:ED) Holdings Raised by Certuity LLC

Certuity LLC lifted its stake in Consolidated Edison, Inc. (NYSE:ED) by 27.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,525 shares of the utilities provider’s stock after purchasing an additional 760 shares during the quarter. Certuity LLC’s holdings in Consolidated Edison were worth $315,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of ED. Capital Performance Advisors LLP purchased a new stake in shares of Consolidated Edison in the third quarter valued at $27,000. Ashton Thomas Securities LLC acquired a new position in Consolidated Edison during the third quarter valued at $30,000. AlphaMark Advisors LLC purchased a new stake in Consolidated Edison in the 4th quarter worth about $27,000. FSA Wealth Management LLC acquired a new stake in Consolidated Edison during the 3rd quarter worth about $55,000. Finally, CGC Financial Services LLC grew its stake in Consolidated Edison by 64.0% during the 4th quarter. CGC Financial Services LLC now owns 546 shares of the utilities provider’s stock valued at $49,000 after acquiring an additional 213 shares in the last quarter. Institutional investors and hedge funds own 66.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on ED shares. Scotiabank raised shares of Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and increased their price target for the stock from $90.00 to $100.00 in a research report on Thursday, December 12th. Evercore ISI downgraded shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 21st. Morgan Stanley lowered their price target on shares of Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating on the stock in a report on Friday, November 22nd. Mizuho increased their price objective on Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Finally, Barclays lowered their target price on Consolidated Edison from $99.00 to $92.00 and set an “underweight” rating on the stock in a research note on Monday, January 27th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $100.00.

Consolidated Edison Price Performance

Shares of NYSE:ED opened at $94.57 on Thursday. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93. The stock has a market capitalization of $32.76 billion, a P/E ratio of 17.81, a P/E/G ratio of 3.04 and a beta of 0.39. The business has a 50-day moving average of $91.89 and a two-hundred day moving average of $98.18. Consolidated Edison, Inc. has a fifty-two week low of $85.85 and a fifty-two week high of $107.75.

Consolidated Edison Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th will be given a dividend of $0.85 per share. The ex-dividend date is Wednesday, February 19th. This represents a $3.40 dividend on an annualized basis and a yield of 3.60%. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.83. Consolidated Edison’s dividend payout ratio is presently 62.52%.

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.