314 Shares in Consolidated Edison, Inc. (NYSE:ED) Bought by Turtle Creek Wealth Advisors LLC

Turtle Creek Wealth Advisors LLC bought a new position in shares of Consolidated Edison, Inc. (NYSE:ED) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 314 shares of the utilities provider’s stock, valued at approximately $29,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Diversified Trust Co raised its holdings in shares of Consolidated Edison by 140.8% in the fourth quarter. Diversified Trust Co now owns 36,950 shares of the utilities provider’s stock valued at $3,361,000 after purchasing an additional 21,604 shares during the last quarter. Pacer Advisors Inc. raised its holdings in shares of Consolidated Edison by 169.9% in the fourth quarter. Pacer Advisors Inc. now owns 60,314 shares of the utilities provider’s stock valued at $5,487,000 after purchasing an additional 37,971 shares during the last quarter. Mariner LLC increased its holdings in Consolidated Edison by 24.9% during the third quarter. Mariner LLC now owns 91,702 shares of the utilities provider’s stock worth $7,844,000 after buying an additional 18,270 shares during the last quarter. Blackhawk Capital Partners LLC. purchased a new stake in Consolidated Edison during the fourth quarter worth about $1,551,000. Finally, Comerica Bank purchased a new stake in Consolidated Edison during the third quarter worth about $8,014,000. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Analyst Ratings Changes

ED has been the subject of several recent research reports. LADENBURG THALM/SH SH initiated coverage on shares of Consolidated Edison in a research note on Wednesday, January 3rd. They issued a “neutral” rating and a $92.50 target price for the company. UBS Group reduced their target price on shares of Consolidated Edison from $99.00 to $94.00 and set a “neutral” rating for the company in a research note on Friday, February 16th. KeyCorp upgraded shares of Consolidated Edison from an “underweight” rating to a “sector weight” rating in a research note on Thursday, January 4th. Royal Bank of Canada reduced their target price on shares of Consolidated Edison from $94.00 to $93.00 and set a “sector perform” rating for the company in a research note on Friday, February 16th. Finally, Scotiabank lifted their target price on shares of Consolidated Edison from $90.00 to $91.00 and gave the stock a “sector underperform” rating in a research note on Tuesday, February 20th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $87.96.

Consolidated Edison Price Performance

ED stock opened at $88.63 on Friday. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.01 and a quick ratio of 0.94. Consolidated Edison, Inc. has a one year low of $80.46 and a one year high of $100.92. The stock has a market cap of $30.62 billion, a PE ratio of 12.34, a P/E/G ratio of 8.35 and a beta of 0.35. The firm has a 50 day simple moving average of $88.91 and a two-hundred day simple moving average of $89.46.

Consolidated Edison (NYSE:ED) last released its quarterly earnings results on Thursday, February 15th. The utilities provider reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.02. Consolidated Edison had a net margin of 17.19% and a return on equity of 8.41%. The business had revenue of $3.44 billion during the quarter, compared to analysts’ expectations of $3.70 billion. During the same quarter in the previous year, the company earned $0.81 EPS. The business’s quarterly revenue was down 14.6% compared to the same quarter last year. On average, analysts predict that Consolidated Edison, Inc. will post 5.3 EPS for the current fiscal year.

Consolidated Edison Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Wednesday, February 14th were paid a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 3.75%. The ex-dividend date was Tuesday, February 13th. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.81. Consolidated Edison’s payout ratio is currently 46.24%.

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.