Consolidated Edison, Inc. (NYSE:ED) Holdings Raised by Simon Quick Advisors LLC

Simon Quick Advisors LLC increased its position in shares of Consolidated Edison, Inc. (NYSE:ED) by 67.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,629 shares of the utilities provider’s stock after purchasing an additional 2,273 shares during the quarter. Simon Quick Advisors LLC’s holdings in Consolidated Edison were worth $502,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. lifted its position in shares of Consolidated Edison by 13.0% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 868 shares of the utilities provider’s stock worth $78,000 after buying an additional 100 shares during the last quarter. AE Wealth Management LLC raised its stake in Consolidated Edison by 23.4% during the second quarter. AE Wealth Management LLC now owns 11,412 shares of the utilities provider’s stock worth $1,020,000 after acquiring an additional 2,163 shares during the period. Thrivent Financial for Lutherans lifted its holdings in Consolidated Edison by 5.0% in the second quarter. Thrivent Financial for Lutherans now owns 31,388 shares of the utilities provider’s stock worth $2,806,000 after acquiring an additional 1,489 shares during the last quarter. Public Sector Pension Investment Board boosted its stake in Consolidated Edison by 49.7% in the second quarter. Public Sector Pension Investment Board now owns 58,657 shares of the utilities provider’s stock valued at $5,245,000 after acquiring an additional 19,472 shares during the period. Finally, Bank of Montreal Can grew its holdings in shares of Consolidated Edison by 15.7% during the second quarter. Bank of Montreal Can now owns 630,801 shares of the utilities provider’s stock valued at $58,576,000 after purchasing an additional 85,815 shares during the last quarter. 66.29% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on ED shares. Evercore ISI raised Consolidated Edison from a “hold” rating to a “strong-buy” rating in a report on Friday, November 8th. Citigroup raised Consolidated Edison from a “neutral” rating to a “buy” rating and increased their target price for the stock 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 report on Wednesday, October 9th. They set a “hold” rating and a $108.00 price target for the company. Barclays dropped their price objective on shares of Consolidated Edison from $104.00 to $99.00 and set an “underweight” rating on the stock in a report on Friday, November 8th. Finally, Morgan Stanley reduced their target price on shares of Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating for the company in a research note on Friday, November 22nd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $100.64.

Consolidated Edison Stock Down 2.6 %

Consolidated Edison stock opened at $90.79 on Thursday. The company’s 50-day moving average price is $93.18 and its two-hundred day moving average price is $98.03. The stock has a market cap of $31.45 billion, a price-to-earnings ratio of 17.10, a PEG ratio of 2.99 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 current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.07.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings data on Thursday, November 7th. The utilities provider reported $1.68 EPS for the quarter, beating analysts’ consensus estimates of $1.56 by $0.12. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.70%. The business had revenue of $4.09 billion for the quarter, compared to analyst estimates of $4.02 billion. On average, analysts expect that Consolidated Edison, Inc. will post 5.35 EPS for the current fiscal 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 represents a $3.40 dividend on an annualized basis and a dividend yield of 3.75%. The ex-dividend date is Wednesday, February 19th. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.83. Consolidated Edison’s payout ratio is currently 62.52%.

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.