Consolidated Edison, Inc. (NYSE:ED) Holdings Lifted by Ballentine Partners LLC

Ballentine Partners LLC grew its holdings in shares of Consolidated Edison, Inc. (NYSE:EDFree Report) by 36.0% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 5,788 shares of the utilities provider’s stock after purchasing an additional 1,532 shares during the quarter. Ballentine Partners LLC’s holdings in Consolidated Edison were worth $516,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in ED. Capital Performance Advisors LLP bought a new stake in shares of Consolidated Edison during the 3rd quarter worth about $27,000. Ashton Thomas Securities LLC acquired a new position in shares of Consolidated Edison during the third quarter valued at approximately $30,000. Future Financial Wealth Managment LLC bought a new stake in Consolidated Edison during the third quarter worth approximately $55,000. FSA Wealth Management LLC bought a new position in Consolidated Edison during the 3rd quarter valued at $55,000. Finally, Webster Bank N. A. boosted its stake in Consolidated Edison by 189.5% during the 3rd quarter. Webster Bank N. A. now owns 579 shares of the utilities provider’s stock valued at $60,000 after purchasing an additional 379 shares in the last quarter. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ED has been the subject of several research analyst reports. Scotiabank upgraded Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and upped their price objective for the company from $90.00 to $100.00 in a report on Thursday, December 12th. Evercore ISI raised shares of Consolidated Edison from a “hold” rating to a “strong-buy” rating in a report on Friday, November 8th. Jefferies Financial Group started coverage on shares of Consolidated Edison in a research note on Wednesday, October 9th. They issued a “hold” rating and a $108.00 price objective on the stock. Morgan Stanley cut their target price on shares of Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating for the company in a research note on Friday, November 22nd. Finally, Citigroup upgraded shares of Consolidated Edison from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $103.00 to $116.00 in a research report on Tuesday, October 15th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Consolidated Edison presently has an average rating of “Hold” and a consensus price target of $100.64.

View Our Latest Stock Analysis on Consolidated Edison

Consolidated Edison Stock Down 0.0 %

Shares of Consolidated Edison stock opened at $90.75 on Friday. Consolidated Edison, Inc. has a 1 year low of $85.85 and a 1 year high of $107.75. The company has a market cap of $31.44 billion, a P/E ratio of 17.09, a P/E/G ratio of 2.97 and a beta of 0.38. 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 50-day moving average price of $93.08 and a 200 day moving average price of $97.98.

Consolidated Edison (NYSE:EDGet Free Report) last posted its quarterly earnings results on Thursday, November 7th. The utilities provider reported $1.68 EPS for the quarter, topping the consensus estimate of $1.56 by $0.12. The business had revenue of $4.09 billion during the quarter, compared to analysts’ expectations of $4.02 billion. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.70%. As a group, analysts expect that Consolidated Edison, Inc. will post 5.35 EPS for the current fiscal year.

Consolidated Edison Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Wednesday, February 19th will be paid a $0.85 dividend. The ex-dividend date is Wednesday, February 19th. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.83. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.75%. Consolidated Edison’s dividend payout ratio is 62.52%.

Consolidated Edison Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Consolidated Edison (NYSE:ED)

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