Sanibel Captiva Trust Company Inc. Purchases 945 Shares of Consolidated Edison, Inc. (NYSE:ED)

Sanibel Captiva Trust Company Inc. grew its position in shares of Consolidated Edison, Inc. (NYSE:ED) by 38.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 3,389 shares of the utilities provider’s stock after acquiring an additional 945 shares during the quarter. Sanibel Captiva Trust Company Inc.’s holdings in Consolidated Edison were worth $302,000 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 ED. Capital Performance Advisors LLP bought a new stake in Consolidated Edison in the third quarter worth about $27,000. Ashton Thomas Securities LLC bought a new position in shares of Consolidated Edison during the third quarter valued at approximately $30,000. Future Financial Wealth Managment LLC bought a new position in shares of Consolidated Edison during the third quarter valued at approximately $55,000. FSA Wealth Management LLC purchased a new position in Consolidated Edison during the third quarter valued at approximately $55,000. Finally, Webster Bank N. A. raised its stake in Consolidated Edison by 189.5% in the third quarter. Webster Bank N. A. now owns 579 shares of the utilities provider’s stock worth $60,000 after buying an additional 379 shares in the last quarter. 66.29% of the stock is owned by hedge funds and other institutional investors.

Consolidated Edison Trading Up 1.6 %

Consolidated Edison stock opened at $93.74 on Monday. The stock has a 50-day moving average price of $93.35 and a 200 day moving average price of $97.91. The company has a market capitalization of $32.47 billion, a price-to-earnings ratio of 17.65, a price-to-earnings-growth ratio of 2.81 and a beta of 0.38. Consolidated Edison, Inc. has a 52 week low of $85.85 and a 52 week high of $107.75. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings data on Thursday, November 7th. The utilities provider reported $1.68 EPS for the quarter, beating the consensus estimate of $1.56 by $0.12. The business had revenue of $4.09 billion during the quarter, compared to analysts’ expectations of $4.02 billion. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.70%. Sell-side analysts anticipate that Consolidated Edison, Inc. will post 5.35 EPS for the current year.

Consolidated Edison Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Wednesday, February 19th will be paid a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 3.63%. The ex-dividend date of this dividend is Wednesday, February 19th. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.83. Consolidated Edison’s payout ratio is currently 64.03%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on ED shares. Evercore ISI upgraded Consolidated Edison from a “hold” rating to a “strong-buy” rating in a report on Friday, November 8th. Citigroup raised shares of Consolidated Edison from a “neutral” rating to a “buy” rating and increased their price target for the company from $103.00 to $116.00 in a research report on Tuesday, October 15th. Jefferies Financial Group started coverage on shares of Consolidated Edison in a research report on Wednesday, October 9th. They issued a “hold” rating and a $108.00 price objective on the stock. Scotiabank raised shares of Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and increased their target price for the company from $90.00 to $100.00 in a research report on Thursday, December 12th. Finally, Morgan Stanley cut their price target on shares of Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating on the stock in a report on Friday, November 22nd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $100.64.

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.