Forte Capital LLC ADV Increases Stock Position in Consolidated Edison, Inc. (NYSE:ED)

Forte Capital LLC ADV increased its position in shares of Consolidated Edison, Inc. (NYSE:ED) by 2.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,387 shares of the utilities provider’s stock after acquiring an additional 527 shares during the quarter. Forte Capital LLC ADV’s holdings in Consolidated Edison were worth $1,998,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Wilmington Savings Fund Society FSB bought a new position in shares of Consolidated Edison during the 3rd quarter worth approximately $776,000. Pathway Financial Advisers LLC raised its stake in shares of Consolidated Edison by 10,302.6% during the 3rd quarter. Pathway Financial Advisers LLC now owns 24,446 shares of the utilities provider’s stock worth $2,546,000 after acquiring an additional 24,211 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Consolidated Edison by 4.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,145,128 shares of the utilities provider’s stock worth $223,373,000 after acquiring an additional 82,985 shares in the last quarter. Hennessy Advisors Inc. raised its stake in shares of Consolidated Edison by 2.8% during the 4th quarter. Hennessy Advisors Inc. now owns 143,136 shares of the utilities provider’s stock worth $12,772,000 after acquiring an additional 3,900 shares in the last quarter. Finally, Gateway Investment Advisers LLC raised its stake in shares of Consolidated Edison by 102.7% during the 4th quarter. Gateway Investment Advisers LLC now owns 430,279 shares of the utilities provider’s stock worth $38,394,000 after acquiring an additional 217,981 shares in the last quarter. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Stock Performance

ED opened at $95.77 on Friday. 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 company has a market cap of $33.18 billion, a price-to-earnings ratio of 18.04, a PEG ratio of 3.05 and a beta of 0.39. Consolidated Edison, Inc. has a 52-week low of $85.85 and a 52-week high of $107.75. The firm’s fifty day simple moving average is $91.98 and its two-hundred day simple moving average is $98.02.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings data on Thursday, February 20th. The utilities provider reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.01. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.70%. Equities analysts anticipate that Consolidated Edison, Inc. will post 5.35 earnings per share for the current fiscal year.

Consolidated Edison Increases Dividend

The firm also recently declared 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 is an increase from Consolidated Edison’s previous quarterly dividend of $0.83. This represents a $3.40 annualized dividend and a dividend yield of 3.55%. The ex-dividend date is Wednesday, February 19th. Consolidated Edison’s dividend payout ratio (DPR) is currently 62.52%.

Wall Street Analyst Weigh In

ED has been the subject of several recent analyst reports. Scotiabank upgraded shares of Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and boosted their price objective for the stock from $90.00 to $100.00 in a research note on Thursday, December 12th. Evercore ISI lowered shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 21st. Barclays cut their price target on shares of Consolidated Edison from $99.00 to $92.00 and set an “underweight” rating on the stock in a research note on Monday, January 27th. Mizuho upped their price target on shares of Consolidated Edison from $92.00 to $95.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. 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 research note on Friday, November 22nd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $100.70.

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.