Asset Planning Inc Takes Position in Consolidated Edison, Inc. (NYSE:ED)

Asset Planning Inc purchased a new stake in shares of Consolidated Edison, Inc. (NYSE:ED) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 8,722 shares of the utilities provider’s stock, valued at approximately $778,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Capital Performance Advisors LLP purchased a new stake in shares of Consolidated Edison during the 3rd quarter valued at about $27,000. Ashton Thomas Securities LLC purchased a new stake in shares of Consolidated Edison during the 3rd quarter valued at about $30,000. AlphaMark Advisors LLC purchased a new stake in shares of Consolidated Edison during the 4th quarter valued at about $27,000. FSA Wealth Management LLC purchased a new stake in shares of Consolidated Edison during the 3rd quarter valued at about $55,000. Finally, CGC Financial Services LLC grew its stake in shares of 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 during the period. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Analysts Set New Price Targets

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

Consolidated Edison Stock Performance

NYSE:ED opened at $95.75 on Friday. The stock’s fifty day moving average is $91.85 and its 200 day moving average is $98.16. Consolidated Edison, Inc. has a fifty-two week low of $85.85 and a fifty-two week high of $107.75. The firm has a market capitalization of $33.17 billion, a PE ratio of 18.03, a PEG ratio of 3.04 and a beta of 0.39. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01.

Consolidated Edison Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Wednesday, February 19th will be issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 3.55%. The ex-dividend date of this dividend 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 presently 64.03%.

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.