Krilogy Financial LLC Purchases Shares of 12,947 Consolidated Edison Inc $ED

Krilogy Financial LLC purchased a new position in Consolidated Edison Inc (NYSE:ED) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 12,947 shares of the utilities provider’s stock, valued at approximately $1,244,000.

Other large investors have also made changes to their positions in the company. Salomon & Ludwin LLC grew its position in Consolidated Edison by 270.4% during the third quarter. Salomon & Ludwin LLC now owns 300 shares of the utilities provider’s stock worth $30,000 after buying an additional 219 shares in the last quarter. Bogart Wealth LLC raised its holdings in Consolidated Edison by 886.5% in the 2nd quarter. Bogart Wealth LLC now owns 365 shares of the utilities provider’s stock valued at $37,000 after acquiring an additional 328 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Consolidated Edison in the 3rd quarter worth approximately $38,000. Webster Bank N. A. grew its holdings in shares of Consolidated Edison by 67.8% during the 3rd quarter. Webster Bank N. A. now owns 495 shares of the utilities provider’s stock worth $50,000 after purchasing an additional 200 shares in the last quarter. Finally, True Wealth Design LLC increased its position in shares of Consolidated Edison by 392.1% during the third quarter. True Wealth Design LLC now owns 497 shares of the utilities provider’s stock valued at $50,000 after purchasing an additional 396 shares during the period. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Stock Up 1.6%

Shares of NYSE ED opened at $111.65 on Friday. Consolidated Edison Inc has a 52-week low of $94.49 and a 52-week high of $114.87. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.97 and a current ratio of 1.08. The business has a fifty day moving average of $101.82 and a two-hundred day moving average of $100.53. The stock has a market cap of $40.30 billion, a PE ratio of 19.52, a PEG ratio of 2.99 and a beta of 0.38.

Consolidated Edison Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Wednesday, February 18th will be given a $0.8875 dividend. This represents a $3.55 dividend on an annualized basis and a yield of 3.2%. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.85. The ex-dividend date is Wednesday, February 18th. Consolidated Edison’s dividend payout ratio (DPR) is presently 59.44%.

Insiders Place Their Bets

In other news, Director John F. Killian sold 2,276 shares of Consolidated Edison stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $96.89, for a total value of $220,521.64. Following the completion of the transaction, the director owned 38,661 shares in the company, valued at approximately $3,745,864.29. The trade was a 5.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

ED has been the subject of several research reports. UBS Group raised their target price on Consolidated Edison from $108.00 to $112.00 and gave the stock a “neutral” rating in a research report on Friday, January 23rd. Barclays lowered their price target on shares of Consolidated Edison from $101.00 to $100.00 and set an “underweight” rating on the stock in a report on Thursday, January 22nd. Morgan Stanley reaffirmed an “underweight” rating and set a $96.00 price objective on shares of Consolidated Edison in a report on Wednesday, January 21st. Weiss Ratings reissued a “buy (b-)” rating on shares of Consolidated Edison in a research note on Monday, December 29th. Finally, KeyCorp dropped their price target on shares of Consolidated Edison from $90.00 to $86.00 and set an “underweight” rating for the company in a research report on Friday, December 12th. Three research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and five have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Consolidated Edison currently has a consensus rating of “Reduce” and a consensus target price of $104.20.

Consolidated Edison Company Profile

Consolidated Edison, Inc, commonly known as Con Edison, is an investor-owned energy company that primarily delivers electricity, natural gas and steam to customers in the New York metropolitan area. Its regulated utility operations include the distribution and transmission of electric power, the distribution of natural gas, and the operation of one of the largest district steam systems in the United States, serving commercial, institutional and residential customers in New York City and nearby counties.

The company operates through regulated utility subsidiaries that serve urban and suburban service territories, together with non-utility businesses that develop, own and manage energy infrastructure and clean energy projects.