Venturi Wealth Management LLC Has $428,000 Position in Consolidated Edison, Inc. (NYSE:ED)

Venturi Wealth Management LLC lifted its position in shares of Consolidated Edison, Inc. (NYSE:ED) by 613.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 4,793 shares of the utilities provider’s stock after purchasing an additional 4,121 shares during the quarter. Venturi Wealth Management LLC’s holdings in Consolidated Edison were worth $428,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the company. State Street Corp boosted its position in shares of Consolidated Edison by 1.7% during the third quarter. State Street Corp now owns 23,429,218 shares of the utilities provider’s stock worth $2,439,684,000 after buying an additional 399,034 shares during the period. Geode Capital Management LLC boosted its position in shares of Consolidated Edison by 1.2% during the third quarter. Geode Capital Management LLC now owns 8,853,788 shares of the utilities provider’s stock worth $919,041,000 after buying an additional 107,281 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Consolidated Edison by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,148,666 shares of the utilities provider’s stock worth $223,741,000 after acquiring an additional 28,254 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Consolidated Edison by 4.0% during the third 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. Finally, FMR LLC raised its holdings in Consolidated Edison by 82.3% during the third quarter. FMR LLC now owns 1,268,424 shares of the utilities provider’s stock worth $132,081,000 after acquiring an additional 572,530 shares in the last quarter. 66.29% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Morgan Stanley dropped their target price on Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating on the stock in a report on Friday, November 22nd. Mizuho upped their target price on Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Evercore ISI lowered Consolidated Edison from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 21st. Barclays dropped their target price on Consolidated Edison from $99.00 to $92.00 and set an “underweight” rating on the stock in a report on Monday, January 27th. Finally, Scotiabank upgraded Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and upped their price objective for the company from $90.00 to $100.00 in a research note on Thursday, December 12th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $100.70.

Consolidated Edison Price Performance

Shares of NYSE ED opened at $95.17 on Thursday. The firm has a market cap of $32.97 billion, a P/E ratio of 17.92, a price-to-earnings-growth ratio of 3.02 and a beta of 0.39. 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, Inc. has a 1-year low of $85.85 and a 1-year high of $107.75. The business’s 50 day moving average is $91.91 and its 200-day moving average is $98.03.

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 dividend of $0.85 per share. The ex-dividend date of this dividend is Wednesday, February 19th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.57%. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.83. Consolidated Edison’s dividend payout ratio (DPR) is 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.