Foster & Motley Inc. Buys Shares of 4,010 Consolidated Edison, Inc. (NYSE:ED)

Foster & Motley Inc. purchased a new position in Consolidated Edison, Inc. (NYSE:ED) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 4,010 shares of the utilities provider’s stock, valued at approximately $365,000.

A number of other large investors also recently modified their holdings of the business. Financial Gravity Asset Management Inc. lifted its position in Consolidated Edison by 215.6% in the third quarter. Financial Gravity Asset Management Inc. now owns 284 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 194 shares during the period. Level Financial Advisors Inc. bought a new stake in shares of Consolidated Edison during the 3rd quarter worth $26,000. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Consolidated Edison during the 4th quarter worth $29,000. Bruce G. Allen Investments LLC acquired a new position in shares of Consolidated Edison in the 4th quarter valued at $31,000. Finally, CVA Family Office LLC purchased a new position in Consolidated Edison in the 4th quarter worth about $32,000. 66.29% of the stock is owned by institutional investors and hedge funds.

Consolidated Edison Stock Performance

ED opened at $93.43 on Thursday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.94 and a current ratio of 1.01. The company has a market cap of $32.28 billion, a PE ratio of 13.01, a price-to-earnings-growth ratio of 8.76 and a beta of 0.35. The stock has a 50-day moving average of $89.29 and a 200-day moving average of $89.83. Consolidated Edison, Inc. has a 52-week low of $80.46 and a 52-week high of $100.92.

Consolidated Edison (NYSE:ED) last announced its earnings results on Thursday, February 15th. The utilities provider reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.02. Consolidated Edison had a return on equity of 8.41% and a net margin of 17.19%. The firm had revenue of $3.44 billion during the quarter, compared to analysts’ expectations of $3.70 billion. During the same quarter in the prior year, the business earned $0.81 earnings per share. The company’s revenue was down 14.6% on a year-over-year basis. As a group, equities research analysts forecast that Consolidated Edison, Inc. will post 5.3 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Wednesday, May 15th will be issued a $0.83 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $3.32 annualized dividend and a yield of 3.55%. Consolidated Edison’s dividend payout ratio (DPR) is presently 46.24%.

Wall Street Analyst Weigh In

ED has been the subject of several recent analyst reports. Royal Bank of Canada decreased their target price on shares of Consolidated Edison from $94.00 to $93.00 and set a “sector perform” rating for the company in a report on Friday, February 16th. Scotiabank lowered their price target on Consolidated Edison from $91.00 to $85.00 and set a “sector underperform” rating on the stock in a report on Monday. KeyCorp raised Consolidated Edison from an “underweight” rating to a “sector weight” rating in a research note on Thursday, January 4th. LADENBURG THALM/SH SH assumed coverage on Consolidated Edison in a research note on Wednesday, January 3rd. They set a “neutral” rating and a $92.50 target price on the stock. Finally, UBS Group reduced their price target on shares of Consolidated Edison from $99.00 to $94.00 and set a “neutral” rating for the company in a research report on Friday, February 16th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Consolidated Edison currently has an average rating of “Hold” and an average price target of $87.54.

Consolidated Edison 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.