Foundations Investment Advisors LLC Acquires 401 Shares of Consolidated Edison, Inc. (NYSE:ED)

Foundations Investment Advisors LLC increased its position in Consolidated Edison, Inc. (NYSE:ED) by 5.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,188 shares of the utilities provider’s stock after acquiring an additional 401 shares during the quarter. Foundations Investment Advisors LLC’s holdings in Consolidated Edison were worth $731,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Capital Performance Advisors LLP purchased a new position in shares of Consolidated Edison during the third quarter worth approximately $27,000. Ashton Thomas Securities LLC purchased a new stake in Consolidated Edison during the 3rd quarter valued at about $30,000. AlphaMark Advisors LLC bought a new stake in Consolidated Edison in the fourth quarter valued at approximately $27,000. FSA Wealth Management LLC purchased a new stake in shares of Consolidated Edison during the third quarter valued at approximately $55,000. Finally, Future Financial Wealth Managment LLC bought a new position in shares of Consolidated Edison in the third quarter worth approximately $55,000. Institutional investors own 66.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ED. Evercore ISI cut shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 21st. Citigroup upgraded shares of 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 report on Tuesday, October 15th. Scotiabank upgraded Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and boosted their price target for the company from $90.00 to $100.00 in a report on Thursday, December 12th. Jefferies Financial Group assumed coverage on Consolidated Edison in a research report on Wednesday, October 9th. They issued a “hold” rating and a $108.00 price objective on the stock. Finally, Morgan Stanley reduced their price objective on shares of Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating on the stock in a research report on Friday, November 22nd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $100.00.

Consolidated Edison Stock Performance

Shares of ED opened at $92.60 on Thursday. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07. The stock has a market cap of $32.08 billion, a P/E ratio of 17.44, a P/E/G ratio of 2.89 and a beta of 0.38. The business’s 50 day moving average price is $92.78 and its 200-day moving average price is $98.10. Consolidated Edison, Inc. has a 52 week low of $85.85 and a 52 week high of $107.75.

Consolidated Edison (NYSE:ED) last released its earnings results on Thursday, November 7th. The utilities provider reported $1.68 EPS for the quarter, topping analysts’ consensus estimates of $1.56 by $0.12. The firm had revenue of $4.09 billion for the quarter, compared to analysts’ expectations of $4.02 billion. Consolidated Edison had a return on equity of 8.70% and a net margin of 12.27%. Equities research analysts anticipate that Consolidated Edison, Inc. will post 5.35 earnings per share 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. Stockholders 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 3.67%. The ex-dividend date of this dividend is Wednesday, February 19th. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.83. Consolidated Edison’s dividend payout ratio is currently 62.52%.

About Consolidated Edison

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.