Signaturefd LLC Acquires 982 Shares of Consolidated Edison, Inc. (NYSE:ED)

Signaturefd LLC grew its holdings in Consolidated Edison, Inc. (NYSE:ED) by 8.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,128 shares of the utilities provider’s stock after acquiring an additional 982 shares during the quarter. Signaturefd LLC’s holdings in Consolidated Edison were worth $1,171,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of ED. TD Private Client Wealth LLC grew its holdings in shares of Consolidated Edison by 4.7% during the third quarter. TD Private Client Wealth LLC now owns 2,334 shares of the utilities provider’s stock worth $243,000 after buying an additional 104 shares in the last quarter. Jacobi Capital Management LLC grew its holdings in shares of Consolidated Edison by 4.2% during the fourth quarter. Jacobi Capital Management LLC now owns 2,569 shares of the utilities provider’s stock worth $229,000 after buying an additional 104 shares in the last quarter. D.A. Davidson & CO. grew its holdings in shares of Consolidated Edison by 1.1% during the third quarter. D.A. Davidson & CO. now owns 11,142 shares of the utilities provider’s stock worth $1,160,000 after buying an additional 124 shares in the last quarter. Townsquare Capital LLC grew its holdings in shares of Consolidated Edison by 2.4% during the third quarter. Townsquare Capital LLC now owns 5,574 shares of the utilities provider’s stock worth $580,000 after buying an additional 130 shares in the last quarter. Finally, Trust Point Inc. grew its holdings in shares of Consolidated Edison by 4.9% during the fourth quarter. Trust Point Inc. now owns 2,790 shares of the utilities provider’s stock worth $249,000 after buying an additional 131 shares in the last quarter. 66.29% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on ED. UBS Group increased their price objective on Consolidated Edison from $105.00 to $110.00 and gave the stock a “neutral” rating in a report on Tuesday, February 25th. Scotiabank increased their price target on Consolidated Edison from $100.00 to $101.00 and gave the company a “sector perform” rating in a research report on Monday, February 24th. Morgan Stanley reduced their price target on Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating for the company in a research report on Friday, November 22nd. Barclays increased their price target on Consolidated Edison from $92.00 to $95.00 and gave the company an “underweight” rating in a research report on Monday, February 24th. Finally, Evercore ISI cut Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 21st. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $101.50.

Consolidated Edison Stock Performance

ED opened at $107.89 on Wednesday. Consolidated Edison, Inc. has a 12-month low of $87.16 and a 12-month high of $108.43. The stock has a market cap of $37.41 billion, a price-to-earnings ratio of 20.59, a PEG ratio of 3.05 and a beta of 0.30. The business has a 50 day moving average of $96.75 and a 200-day moving average of $98.26. 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 data on Thursday, February 20th. The utilities provider reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.01. Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. The company had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.63 billion. On average, equities research analysts expect that Consolidated Edison, Inc. will post 5.62 earnings per share for the current year.

Consolidated Edison Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Wednesday, February 19th were paid a dividend of $0.85 per share. The ex-dividend date was Wednesday, February 19th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.15%. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.83. Consolidated Edison’s dividend payout ratio (DPR) is 64.89%.

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.