LFA Lugano Financial Advisors SA Buys 264 Shares of Consolidated Edison, Inc. (NYSE:ED)

LFA Lugano Financial Advisors SA grew its stake in Consolidated Edison, Inc. (NYSE:ED) by 20.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,580 shares of the utilities provider’s stock after purchasing an additional 264 shares during the period. LFA Lugano Financial Advisors SA’s holdings in Consolidated Edison were worth $141,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. United Bank purchased a new position in Consolidated Edison during the 3rd quarter valued at $227,000. Ashton Thomas Securities LLC purchased a new position in Consolidated Edison in the 3rd quarter worth about $30,000. Prime Capital Investment Advisors LLC lifted its holdings in Consolidated Edison by 11.2% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 3,615 shares of the utilities provider’s stock valued at $376,000 after buying an additional 365 shares in the last quarter. Haverford Trust Co boosted its position in Consolidated Edison by 5.0% in the 3rd quarter. Haverford Trust Co now owns 3,577 shares of the utilities provider’s stock valued at $372,000 after buying an additional 170 shares during the period. Finally, Kovack Advisors Inc. grew its stake in Consolidated Edison by 47.6% in the 3rd quarter. Kovack Advisors Inc. now owns 6,381 shares of the utilities provider’s stock worth $664,000 after acquiring an additional 2,058 shares in the last quarter. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Consolidated Edison Price Performance

NYSE ED opened at $102.72 on Thursday. The firm’s fifty day simple moving average is $95.30 and its two-hundred day simple moving average is $98.11. The firm has a market capitalization of $35.62 billion, a P/E ratio of 19.60, a P/E/G ratio of 3.05 and a beta of 0.30. 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 $87.16 and a 12-month high of $107.97.

Consolidated Edison (NYSE:ED) last announced its earnings results on Thursday, February 20th. The utilities provider reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.01. The firm 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%. Analysts forecast that Consolidated Edison, Inc. will post 5.62 EPS 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. Investors of record on Wednesday, February 19th will be given a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 3.31%. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend is Wednesday, February 19th. Consolidated Edison’s dividend payout ratio is presently 64.89%.

Analyst Upgrades and Downgrades

ED has been the subject of several research analyst reports. Evercore ISI lowered Consolidated Edison from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 21st. Barclays increased their target price on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock an “underweight” rating in a report on Monday, February 24th. UBS Group boosted their price target on shares of Consolidated Edison from $105.00 to $110.00 and gave the company a “neutral” rating in a report on Tuesday, February 25th. Morgan Stanley lowered their price target on shares of Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating for the company in a research report on Friday, November 22nd. Finally, Mizuho lifted their price objective on shares of Consolidated Edison from $92.00 to $95.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Two equities 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 issued a strong buy rating to the stock. Based on data from MarketBeat.com, Consolidated Edison has a consensus rating of “Hold” and an average price target of $101.50.

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.