J.W. Cole Advisors Inc. Boosts Holdings in Consolidated Edison, Inc. (NYSE:ED)

J.W. Cole Advisors Inc. increased its holdings in Consolidated Edison, Inc. (NYSE:ED) by 97.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,877 shares of the utilities provider’s stock after acquiring an additional 7,832 shares during the quarter. J.W. Cole Advisors Inc.’s holdings in Consolidated Edison were worth $1,444,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. IHT Wealth Management LLC increased its stake in shares of Consolidated Edison by 1.4% in the 4th quarter. IHT Wealth Management LLC now owns 7,941 shares of the utilities provider’s stock worth $757,000 after acquiring an additional 110 shares in the last quarter. Lido Advisors LLC increased its stake in shares of Consolidated Edison by 0.3% in the 1st quarter. Lido Advisors LLC now owns 43,881 shares of the utilities provider’s stock worth $4,198,000 after acquiring an additional 113 shares in the last quarter. Retirement Group LLC increased its stake in shares of Consolidated Edison by 74.8% in the 4th quarter. Retirement Group LLC now owns 271 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 116 shares in the last quarter. Brinker Capital Investments LLC increased its stake in shares of Consolidated Edison by 1.2% in the 1st quarter. Brinker Capital Investments LLC now owns 9,592 shares of the utilities provider’s stock worth $908,000 after acquiring an additional 117 shares in the last quarter. Finally, MGO One Seven LLC increased its stake in shares of Consolidated Edison by 2.1% in the 3rd quarter. MGO One Seven LLC now owns 5,727 shares of the utilities provider’s stock worth $490,000 after acquiring an additional 119 shares in the last quarter. 66.29% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Consolidated Edison Price Performance

Shares of NYSE:ED opened at $91.77 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 1-year low of $80.46 and a 1-year high of $100.92. The company has a market capitalization of $31.71 billion, a P/E ratio of 12.78, a P/E/G ratio of 8.65 and a beta of 0.35. The firm’s 50 day simple moving average is $88.97 and its two-hundred day simple moving average is $89.66.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Thursday, February 15th. The utilities provider reported $1.00 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $3.70 billion. During the same quarter in the previous year, the firm earned $0.81 earnings per share. The company’s revenue for the quarter was down 14.6% on a year-over-year basis. Research analysts expect that Consolidated Edison, Inc. will post 5.3 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Wednesday, May 15th will be issued a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 3.62%. The ex-dividend date of this dividend is Tuesday, May 14th. Consolidated Edison’s dividend 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.