Consolidated Edison, Inc. (NYSE:ED) Shares Bought by Mather Group LLC.

Mather Group LLC. grew its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 8.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,194 shares of the utilities provider’s stock after purchasing an additional 484 shares during the quarter. Mather Group LLC.’s holdings in Consolidated Edison were worth $563,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Valeo Financial Advisors LLC lifted its stake in shares of Consolidated Edison by 13.5% in the third quarter. Valeo Financial Advisors LLC now owns 2,557 shares of the utilities provider’s stock worth $219,000 after acquiring an additional 305 shares in the last quarter. Xponance Inc. lifted its stake in shares of Consolidated Edison by 9.0% in the third quarter. Xponance Inc. now owns 53,525 shares of the utilities provider’s stock worth $4,578,000 after acquiring an additional 4,419 shares in the last quarter. Dakota Wealth Management acquired a new position in shares of Consolidated Edison in the third quarter worth about $617,000. FinTrust Capital Advisors LLC lifted its stake in shares of Consolidated Edison by 13.0% in the third quarter. FinTrust Capital Advisors LLC now owns 1,579 shares of the utilities provider’s stock worth $135,000 after acquiring an additional 182 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. lifted its stake in shares of Consolidated Edison by 6.5% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 110,604 shares of the utilities provider’s stock worth $9,460,000 after acquiring an additional 6,715 shares in the last quarter. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Price Performance

Shares of NYSE ED opened at $94.78 on Thursday. Consolidated Edison, Inc. has a twelve month low of $80.46 and a twelve month high of $100.44. The company has a current ratio of 1.01, a quick ratio of 0.94 and a debt-to-equity ratio of 1.04. The company has a market capitalization of $32.75 billion, a price-to-earnings ratio of 13.20, a PEG ratio of 8.85 and a beta of 0.35. The firm has a 50-day moving average of $89.91 and a two-hundred day moving average of $90.04.

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 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 company had revenue of $3.44 billion during the quarter, compared to the consensus estimate of $3.70 billion. During the same period in the prior year, the company earned $0.81 EPS. Consolidated Edison’s revenue was down 14.6% on a year-over-year basis. As a group, analysts expect that Consolidated Edison, Inc. will post 5.31 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $3.32 annualized dividend and a yield of 3.50%. Consolidated Edison’s payout ratio is presently 46.24%.

Analyst Ratings Changes

ED has been the topic of several research reports. KeyCorp upgraded Consolidated Edison from an “underweight” rating to a “sector weight” rating in a research note on Thursday, January 4th. Scotiabank cut their price objective on Consolidated Edison from $91.00 to $85.00 and set a “sector underperform” rating on the stock in a research note on Monday, April 22nd. LADENBURG THALM/SH SH initiated coverage on Consolidated Edison in a research note on Wednesday, January 3rd. They set a “neutral” rating and a $92.50 price objective on the stock. Barclays upped their price objective on Consolidated Edison from $86.00 to $87.00 and gave the company an “equal weight” rating in a research note on Thursday, March 14th. Finally, Royal Bank of Canada cut their price objective on Consolidated Edison from $94.00 to $93.00 and set a “sector perform” rating on the stock in a research note on Friday, February 16th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $87.54.

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.