Smartleaf Asset Management LLC Purchases 183 Shares of Consolidated Edison, Inc. (NYSE:ED)

Smartleaf Asset Management LLC lifted its position in Consolidated Edison, Inc. (NYSE:ED) by 16.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,285 shares of the utilities provider’s stock after acquiring an additional 183 shares during the quarter. Smartleaf Asset Management LLC’s holdings in Consolidated Edison were worth $115,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Radnor Capital Management LLC purchased a new position in Consolidated Edison in the 3rd quarter worth about $310,000. Concurrent Investment Advisors LLC increased its stake in Consolidated Edison by 17.6% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 19,786 shares of the utilities provider’s stock worth $2,060,000 after buying an additional 2,958 shares during the period. Graypoint LLC increased its stake in Consolidated Edison by 10.5% in the 3rd quarter. Graypoint LLC now owns 2,666 shares of the utilities provider’s stock worth $278,000 after buying an additional 253 shares during the period. Principal Financial Group Inc. increased its stake in Consolidated Edison by 5.1% in the 3rd quarter. Principal Financial Group Inc. now owns 477,722 shares of the utilities provider’s stock worth $49,745,000 after buying an additional 23,024 shares during the period. Finally, Montecito Bank & Trust increased its stake in Consolidated Edison by 78.6% in the 3rd quarter. Montecito Bank & Trust now owns 5,105 shares of the utilities provider’s stock worth $532,000 after buying an additional 2,247 shares during the period. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Stock Up 2.8 %

Shares of Consolidated Edison stock opened at $103.73 on Friday. The firm’s 50 day moving average price is $94.39 and its 200-day moving average price is $98.04. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07. Consolidated Edison, Inc. has a 52-week low of $87.16 and a 52-week high of $107.75. The company has a market cap of $35.97 billion, a P/E ratio of 19.80, a PEG ratio of 3.05 and a beta of 0.39.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings data on Thursday, February 20th. The utilities provider reported $0.98 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.63 billion. On average, sell-side analysts predict that Consolidated Edison, Inc. will post 5.62 EPS for the current fiscal year.

Consolidated Edison Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Wednesday, February 19th will be given a $0.85 dividend. The ex-dividend date is Wednesday, February 19th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.28%. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.83. Consolidated Edison’s payout ratio is presently 64.89%.

Analyst Ratings Changes

ED has been the topic of several recent analyst reports. UBS Group raised their price target on shares of Consolidated Edison from $105.00 to $110.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 25th. Evercore ISI downgraded shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 21st. Barclays raised their target price 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. Morgan Stanley cut their target price 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. Finally, Mizuho raised their target price 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. 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 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 price target of $101.50.

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.