Sigma Planning Corp Grows Stock Position in Consolidated Edison, Inc. (NYSE:ED)

Sigma Planning Corp increased its holdings in Consolidated Edison, Inc. (NYSE:ED) by 10.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,312 shares of the utilities provider’s stock after buying an additional 1,273 shares during the quarter. Sigma Planning Corp’s holdings in Consolidated Edison were worth $1,188,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Capital Performance Advisors LLP purchased a new stake in Consolidated Edison in the third quarter worth about $27,000. Ashton Thomas Securities LLC bought a new position in shares of Consolidated Edison during the 3rd quarter valued at approximately $30,000. AlphaMark Advisors LLC purchased a new stake in Consolidated Edison in the 4th quarter worth approximately $27,000. Centricity Wealth Management LLC bought a new stake in Consolidated Edison during the 4th quarter worth approximately $39,000. Finally, FSA Wealth Management LLC bought a new stake in Consolidated Edison during the 3rd quarter worth approximately $55,000. 66.29% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ED. Mizuho increased their price objective on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Morgan Stanley decreased their price target on Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating on the stock in a report on Friday, November 22nd. Scotiabank boosted their price objective on Consolidated Edison from $100.00 to $101.00 and gave the company a “sector perform” rating in a research report on Monday. Barclays increased their target price on Consolidated Edison from $92.00 to $95.00 and gave the stock an “underweight” rating in a research report on Monday. Finally, Evercore ISI cut Consolidated Edison from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 21st. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Consolidated Edison currently has an average rating of “Hold” and a consensus price target of $101.10.

Consolidated Edison Stock Up 1.4 %

Shares of ED opened at $99.66 on Tuesday. 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 $34.52 billion, a price-to-earnings ratio of 19.02, a price-to-earnings-growth ratio of 3.05 and a beta of 0.39. Consolidated Edison, Inc. has a 1 year low of $85.85 and a 1 year high of $107.75. The business’s 50 day simple moving average is $92.26 and its 200-day simple moving average is $97.95.

Consolidated Edison (NYSE:ED) last released its quarterly earnings data on Thursday, February 20th. The utilities provider reported $0.98 EPS for the quarter, beating the consensus estimate of $0.97 by $0.01. Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. The business had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.63 billion. As a group, equities analysts expect that Consolidated Edison, Inc. will post 5.62 earnings per share 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. Shareholders of record on Wednesday, February 19th will be paid a dividend of $0.85 per share. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.83. This represents a $3.40 annualized dividend and a yield of 3.41%. The ex-dividend date of this dividend is Wednesday, February 19th. Consolidated Edison’s payout ratio is presently 64.89%.

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.