7,654 Shares in Consolidated Edison, Inc. (NYSE:ED) Acquired by Crowley Wealth Management Inc.

Crowley Wealth Management Inc. purchased a new stake in Consolidated Edison, Inc. (NYSE:ED) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 7,654 shares of the utilities provider’s stock, valued at approximately $683,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. AlphaMark Advisors LLC acquired a new position in shares of Consolidated Edison during the fourth quarter worth about $27,000. Fairway Wealth LLC acquired a new position in Consolidated Edison during the 4th quarter worth approximately $36,000. OFI Invest Asset Management bought a new position in shares of Consolidated Edison during the 4th quarter worth approximately $35,000. Centricity Wealth Management LLC acquired a new stake in Consolidated Edison in the 4th quarter valued at $39,000. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new stake in Consolidated Edison during the 4th quarter worth about $44,000. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Stock Down 0.6 %

Shares of ED opened at $107.85 on Friday. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.07. The stock has a market capitalization of $37.40 billion, a PE ratio of 20.58, a P/E/G ratio of 3.05 and a beta of 0.30. The firm’s 50 day moving average is $97.91 and its 200-day moving average is $98.40. Consolidated Edison, Inc. has a 12 month low of $87.16 and a 12 month high of $109.36.

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 the consensus estimate of $0.97 by $0.01. The firm had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.63 billion. Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. Equities research analysts forecast that Consolidated Edison, Inc. will post 5.62 EPS for the current year.

Consolidated Edison Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Wednesday, February 19th were given 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 was Wednesday, February 19th. This represents a $3.40 annualized dividend and a dividend yield of 3.15%. Consolidated Edison’s dividend payout ratio (DPR) is currently 64.89%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ED. Mizuho lifted their target price on Consolidated Edison from $92.00 to $95.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Barclays boosted their price target on Consolidated Edison from $92.00 to $95.00 and gave the stock an “underweight” rating in a research report on Monday, February 24th. Evercore ISI downgraded Consolidated Edison from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 21st. Morgan Stanley boosted their target price on shares of Consolidated Edison from $85.00 to $91.00 and gave the stock an “underweight” rating in a report on Thursday. Finally, Scotiabank upped their target price on shares of Consolidated Edison from $100.00 to $101.00 and gave the company a “sector perform” rating in a report on Monday, February 24th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $102.40.

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.