Consolidated Edison, Inc. (NYSE:ED) Shares Bought by Checchi Capital Advisers LLC

Checchi Capital Advisers LLC raised its holdings in Consolidated Edison, Inc. (NYSE:ED) by 3.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,757 shares of the utilities provider’s stock after acquiring an additional 208 shares during the quarter. Checchi Capital Advisers LLC’s holdings in Consolidated Edison were worth $514,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Wilmington Savings Fund Society FSB purchased a new position in shares of Consolidated Edison in the third quarter valued at $776,000. JPMorgan Chase & Co. increased its position in shares of Consolidated Edison by 4.0% in the third quarter. JPMorgan Chase & Co. now owns 2,145,128 shares of the utilities provider’s stock valued at $223,373,000 after buying an additional 82,985 shares in the last quarter. Hennessy Advisors Inc. increased its position in shares of Consolidated Edison by 2.8% in the fourth quarter. Hennessy Advisors Inc. now owns 143,136 shares of the utilities provider’s stock valued at $12,772,000 after buying an additional 3,900 shares in the last quarter. Gateway Investment Advisers LLC increased its position in shares of Consolidated Edison by 102.7% in the fourth quarter. Gateway Investment Advisers LLC now owns 430,279 shares of the utilities provider’s stock valued at $38,394,000 after buying an additional 217,981 shares in the last quarter. Finally, National Pension Service increased its position in shares of 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 buying an additional 30,838 shares in the last quarter. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on ED shares. Barclays raised 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. UBS Group lifted their price objective on Consolidated Edison from $105.00 to $110.00 and gave the stock a “neutral” rating in a research report on Tuesday. Scotiabank lifted their price objective on Consolidated Edison from $100.00 to $101.00 and gave the stock a “sector perform” rating in a research report on Monday. Mizuho lifted their price objective on Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Finally, 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 research report on Friday, November 22nd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $101.50.

Consolidated Edison Stock Down 1.0 %

Shares of NYSE:ED opened at $99.92 on Thursday. The stock’s 50-day moving average price is $92.68 and its two-hundred day moving average price is $97.97. 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 12-month low of $85.85 and a 12-month high of $107.75. The firm has a market cap of $34.61 billion, a price-to-earnings ratio of 19.07, a PEG ratio of 3.05 and a beta of 0.39.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Thursday, February 20th. The utilities provider reported $0.98 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.63 billion. On average, research analysts forecast that Consolidated Edison, Inc. will post 5.62 EPS for the current year.

Consolidated Edison Increases Dividend

The company also recently disclosed 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. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.83. This represents a $3.40 annualized dividend and a dividend yield of 3.40%. The ex-dividend date of this dividend is Wednesday, February 19th. Consolidated Edison’s payout ratio is currently 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.