Tectonic Advisors LLC Raises Stock Position in Consolidated Edison, Inc. (NYSE:ED)

Tectonic Advisors LLC increased its position in shares of Consolidated Edison, Inc. (NYSE:ED) by 18.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 67,032 shares of the utilities provider’s stock after purchasing an additional 10,381 shares during the quarter. Tectonic Advisors LLC’s holdings in Consolidated Edison were worth $5,981,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Capital Performance Advisors LLP purchased a new stake in Consolidated Edison in the 3rd quarter valued at about $27,000. AlphaMark Advisors LLC purchased a new stake in Consolidated Edison in the 4th quarter valued at about $27,000. Ashton Thomas Securities LLC purchased a new stake in Consolidated Edison in the 3rd quarter valued at about $30,000. CGC Financial Services LLC boosted its position in Consolidated Edison by 64.0% in the 4th quarter. CGC Financial Services LLC now owns 546 shares of the utilities provider’s stock valued at $49,000 after buying an additional 213 shares during the period. Finally, Future Financial Wealth Managment LLC purchased a new stake in Consolidated Edison in the 3rd quarter valued at about $55,000. 66.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Evercore ISI cut shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 21st. Barclays reduced their price target on shares of Consolidated Edison from $99.00 to $92.00 and set an “underweight” rating for the company in a report on Monday, January 27th. Citigroup upgraded shares of Consolidated Edison from a “neutral” rating to a “buy” rating and boosted their price target for the company from $103.00 to $116.00 in a report on Tuesday, October 15th. Mizuho boosted their price target on shares of Consolidated Edison from $92.00 to $95.00 and gave the company a “neutral” rating in a report on Monday. Finally, Morgan Stanley reduced their price target on shares of Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating for the company in a report on Friday, November 22nd. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Consolidated Edison presently has a consensus rating of “Hold” and a consensus price target of $100.00.

Consolidated Edison Trading Down 0.7 %

NYSE ED opened at $94.96 on Wednesday. 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 firm has a market cap of $32.89 billion, a PE ratio of 17.88, a price-to-earnings-growth ratio of 2.99 and a beta of 0.39. The company has a 50 day moving average price of $92.28 and a 200 day moving average price of $98.15. Consolidated Edison, Inc. has a 52 week low of $85.85 and a 52 week high of $107.75.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Thursday, November 7th. The utilities provider reported $1.68 earnings per share (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. As a group, sell-side analysts forecast that Consolidated Edison, Inc. will post 5.35 EPS for the current fiscal year.

Consolidated Edison Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th will be paid a dividend of $0.85 per share. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.83. The ex-dividend date is Wednesday, February 19th. This represents a $3.40 dividend on an annualized basis and a yield of 3.58%. Consolidated Edison’s dividend payout ratio is presently 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.