Valeo Financial Advisors LLC Has $259,000 Holdings in Consolidated Edison, Inc. (NYSE:ED)

Valeo Financial Advisors LLC raised its stake in Consolidated Edison, Inc. (NYSE:ED) by 11.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,847 shares of the utilities provider’s stock after buying an additional 290 shares during the quarter. Valeo Financial Advisors LLC’s holdings in Consolidated Edison were worth $259,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Diversified Trust Co raised its stake in Consolidated Edison by 140.8% during the 4th quarter. Diversified Trust Co now owns 36,950 shares of the utilities provider’s stock worth $3,361,000 after buying an additional 21,604 shares during the period. Pacer Advisors Inc. raised its position in shares of Consolidated Edison by 169.9% during the fourth quarter. Pacer Advisors Inc. now owns 60,314 shares of the utilities provider’s stock worth $5,487,000 after purchasing an additional 37,971 shares during the period. Blackhawk Capital Partners LLC. acquired a new position in shares of Consolidated Edison in the 4th quarter valued at approximately $1,551,000. Mariner LLC raised its holdings in Consolidated Edison by 24.9% during the 3rd 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 period. Finally, Comerica Bank bought a new position in Consolidated Edison in the third quarter valued at approximately $8,014,000. Institutional investors own 66.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Barclays increased their price objective on shares of Consolidated Edison from $86.00 to $87.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 14th. Royal Bank of Canada reduced their price target on Consolidated Edison from $94.00 to $93.00 and set a “sector perform” rating for the company in a research report on Friday, February 16th. KeyCorp upgraded shares of Consolidated Edison from an “underweight” rating to a “sector weight” rating in a report on Thursday, January 4th. Scotiabank boosted their price objective on shares of Consolidated Edison from $90.00 to $91.00 and gave the stock a “sector underperform” rating in a research report on Tuesday, February 20th. Finally, UBS Group decreased 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 report on Friday, February 16th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Consolidated Edison currently has a consensus rating of “Hold” and a consensus target price of $87.96.

Consolidated Edison Trading Up 0.8 %

Consolidated Edison stock opened at $89.32 on Tuesday. The stock has a 50-day simple moving average of $88.90 and a 200 day simple moving average of $89.52. The stock has a market capitalization of $30.86 billion, a P/E ratio of 12.44, a PEG ratio of 8.36 and a beta of 0.35. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.94 and a current ratio of 1.01. Consolidated Edison, Inc. has a 52 week low of $80.46 and a 52 week high of $100.92.

Consolidated Edison (NYSE:ED) last released its quarterly earnings data on Thursday, February 15th. The utilities provider reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.02. The company had revenue of $3.44 billion during the quarter, compared to analysts’ expectations of $3.70 billion. Consolidated Edison had a return on equity of 8.41% and a net margin of 17.19%. The business’s revenue was down 14.6% on a year-over-year basis. During the same period last year, the firm posted $0.81 earnings per share. Analysts expect that Consolidated Edison, Inc. will post 5.3 earnings per share for the current year.

Consolidated Edison Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Wednesday, February 14th were given a $0.83 dividend. The ex-dividend date was Tuesday, February 13th. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.81. This represents a $3.32 annualized dividend and a dividend yield of 3.72%. Consolidated Edison’s dividend payout ratio is presently 46.24%.

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.