Vision Financial Markets LLC Buys New Stake in Consolidated Edison, Inc. (NYSE:ED)

Vision Financial Markets LLC bought a new stake in shares of Consolidated Edison, Inc. (NYSE:ED) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 4,928 shares of the utilities provider’s stock, valued at approximately $440,000.

Several other institutional investors also recently bought and sold shares of ED. Point72 Asset Management L.P. grew its stake in Consolidated Edison by 1,766.0% during the third quarter. Point72 Asset Management L.P. now owns 988,961 shares of the utilities provider’s stock valued at $102,980,000 after acquiring an additional 935,962 shares in the last quarter. FMR LLC lifted its position in Consolidated Edison by 82.3% during the third quarter. FMR LLC now owns 1,268,424 shares of the utilities provider’s stock valued at $132,081,000 after purchasing an additional 572,530 shares during the last quarter. National Bank of Canada FI lifted its position in Consolidated Edison by 350.6% during the third quarter. National Bank of Canada FI now owns 620,705 shares of the utilities provider’s stock valued at $64,634,000 after purchasing an additional 482,953 shares during the last quarter. Cbre Investment Management Listed Real Assets LLC bought a new position in Consolidated Edison during the fourth quarter valued at $37,147,000. Finally, State Street Corp lifted its position in Consolidated Edison by 1.7% during the third quarter. State Street Corp now owns 23,429,218 shares of the utilities provider’s stock valued at $2,439,684,000 after purchasing an additional 399,034 shares during the last quarter. 66.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ED has been the subject of several research reports. Morgan Stanley lowered their price objective on shares of Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating for the company in a research report on Friday, November 22nd. Barclays increased their price objective on shares of Consolidated Edison from $92.00 to $95.00 and gave the company an “underweight” rating in a research report on Monday, February 24th. Mizuho increased their price objective on shares of Consolidated Edison from $92.00 to $95.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Evercore ISI lowered shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 21st. Finally, Scotiabank raised their target price on shares of Consolidated Edison from $100.00 to $101.00 and gave the stock a “sector perform” rating in a report on Monday, February 24th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $101.50.

Consolidated Edison Trading Down 1.9 %

Shares of ED opened at $100.18 on Thursday. Consolidated Edison, Inc. has a 1-year low of $87.16 and a 1-year high of $107.75. The company has a 50-day moving average of $93.89 and a 200 day moving average of $98.00. The firm has a market capitalization of $34.73 billion, a price-to-earnings ratio of 19.12, a PEG ratio of 3.05 and a beta of 0.39. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings data on Thursday, February 20th. The utilities provider reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.01. Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. The company had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.63 billion. On average, research analysts expect that Consolidated Edison, Inc. will post 5.62 EPS for the current year.

Consolidated Edison Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Wednesday, February 19th will be issued 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 of this dividend is Wednesday, February 19th. This represents a $3.40 dividend on an annualized basis and a yield of 3.39%. Consolidated Edison’s dividend payout ratio (DPR) is presently 64.89%.

Consolidated Edison Company 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.