Consolidated Edison, Inc. (NYSE:ED) Shares Bought by SRS Capital Advisors Inc.

SRS Capital Advisors Inc. increased its position in Consolidated Edison, Inc. (NYSE:ED) by 68.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,500 shares of the utilities provider’s stock after buying an additional 608 shares during the period. SRS Capital Advisors Inc.’s holdings in Consolidated Edison were worth $134,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of ED. Van ECK Associates Corp lifted its stake in shares of Consolidated Edison by 2.9% during the 3rd quarter. Van ECK Associates Corp now owns 95,927 shares of the utilities provider’s stock worth $10,303,000 after purchasing an additional 2,681 shares during the period. Intact Investment Management Inc. acquired a new position in Consolidated Edison in the third quarter valued at $75,000. National Pension Service increased its stake in Consolidated Edison by 7.0% in the third quarter. National Pension Service now owns 468,572 shares of the utilities provider’s stock valued at $48,792,000 after purchasing an additional 30,838 shares during the last quarter. Crestwood Advisors Group LLC lifted its position in Consolidated Edison by 3.9% during the third quarter. Crestwood Advisors Group LLC now owns 5,161 shares of the utilities provider’s stock worth $537,000 after buying an additional 192 shares during the period. Finally, Avidian Wealth Enterprises LLC boosted its stake in Consolidated Edison by 1.5% in the 3rd quarter. Avidian Wealth Enterprises LLC now owns 10,225 shares of the utilities provider’s stock worth $1,065,000 after buying an additional 147 shares during the last quarter. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on ED shares. Mizuho upped their price objective on shares of Consolidated Edison from $92.00 to $95.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Scotiabank increased their price target on shares of Consolidated Edison from $100.00 to $101.00 and gave the stock a “sector perform” rating in a research note on Monday, February 24th. Barclays lifted their price target on shares of Consolidated Edison from $92.00 to $95.00 and gave the company an “underweight” rating in a report on Monday, February 24th. Morgan Stanley dropped their price objective on Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating for the company in a report on Friday, November 22nd. Finally, UBS Group lifted their target price on Consolidated Edison from $105.00 to $110.00 and gave the company a “neutral” rating in a report on Tuesday, February 25th. Two 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. According to data from MarketBeat, Consolidated Edison currently has an average rating of “Hold” and an average price target of $101.50.

Consolidated Edison Trading Down 1.9 %

NYSE:ED opened at $100.18 on Thursday. The business’s 50-day moving average is $93.89 and its two-hundred day moving average is $98.00. The firm has a market capitalization of $34.73 billion, a PE ratio of 19.12, a price-to-earnings-growth ratio of 3.05 and a beta of 0.39. Consolidated Edison, Inc. has a 12 month low of $87.16 and a 12 month high of $107.75. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93.

Consolidated Edison (NYSE:ED) last announced its earnings results on Thursday, February 20th. The utilities provider reported $0.98 EPS for the quarter, beating the consensus estimate of $0.97 by $0.01. The business had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.63 billion. Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. Research analysts predict that Consolidated Edison, Inc. will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Wednesday, February 19th will be paid a $0.85 dividend. The ex-dividend date of this dividend is Wednesday, February 19th. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.83. This represents a $3.40 annualized dividend and a dividend yield of 3.39%. Consolidated Edison’s dividend payout ratio 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.