Huber Capital Management LLC Has $535,000 Holdings in Consolidated Edison, Inc. (NYSE:ED)

Huber Capital Management LLC trimmed its position in Consolidated Edison, Inc. (NYSE:ED) by 32.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,000 shares of the utilities provider’s stock after selling 2,939 shares during the quarter. Huber Capital Management LLC’s holdings in Consolidated Edison were worth $535,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. AlphaMark Advisors LLC acquired a new position in shares of Consolidated Edison in the 4th quarter worth approximately $27,000. OFI Invest Asset Management bought a new stake in Consolidated Edison in the fourth quarter valued at $35,000. Fairway Wealth LLC acquired a new position in Consolidated Edison during the fourth quarter worth $36,000. Centricity Wealth Management LLC bought a new position in shares of Consolidated Edison during the fourth quarter valued at $39,000. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Consolidated Edison during the fourth quarter valued at $44,000. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. UBS Group lifted their price target on shares of Consolidated Edison from $110.00 to $113.00 and gave the company a “neutral” rating in a report on Friday, March 21st. Scotiabank boosted their target price on Consolidated Edison from $100.00 to $101.00 and gave the stock a “sector perform” rating in a report on Monday, February 24th. Mizuho increased their price target on Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Barclays lifted their price objective 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, Morgan Stanley increased their target price on Consolidated Edison from $85.00 to $91.00 and gave the stock an “underweight” rating in a report on Thursday, March 20th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $102.40.

Consolidated Edison Stock Performance

Shares of NYSE:ED opened at $109.58 on Thursday. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.07. Consolidated Edison, Inc. has a 1-year low of $87.28 and a 1-year high of $111.11. The stock has a market capitalization of $38.00 billion, a P/E ratio of 20.91, a P/E/G ratio of 3.05 and a beta of 0.30. The business has a 50-day moving average price of $100.62 and a two-hundred day moving average price of $98.64.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings results on Thursday, February 20th. The utilities provider reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $3.63 billion. Equities analysts predict that Consolidated Edison, Inc. will post 5.62 earnings per share for the current year.

Consolidated Edison Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th were issued 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 yield of 3.10%. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.83. Consolidated Edison’s dividend payout ratio (DPR) is 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.