Colonial Trust Advisors increased its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 26.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,557 shares of the utilities provider’s stock after acquiring an additional 750 shares during the quarter. Colonial Trust Advisors’ holdings in Consolidated Edison were worth $302,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Calton & Associates Inc. acquired a new position in Consolidated Edison in the fourth quarter valued at $119,000. Asset Dedication LLC purchased a new stake in shares of Consolidated Edison in the fourth quarter valued at about $183,000. Aevitas Wealth Management Inc. purchased a new stake in shares of Consolidated Edison in the fourth quarter valued at about $186,000. Round Table Services LLC purchased a new stake in shares of Consolidated Edison in the fourth quarter valued at about $200,000. Finally, Community Bank & Trust Waco Texas purchased a new stake in shares of Consolidated Edison in the fourth quarter valued at about $208,000. Hedge funds and other institutional investors own 56.68% of the company’s stock.
Several brokerages have recently weighed in on ED. ValuEngine downgraded shares of Consolidated Edison from a “buy” rating to a “hold” rating in a report on Wednesday, March 7th. Morgan Stanley lowered their target price on shares of Consolidated Edison from $80.00 to $74.00 and set an “underweight” rating on the stock in a report on Tuesday, February 13th. UBS began coverage on shares of Consolidated Edison in a report on Friday, February 2nd. They issued a “neutral” rating and a $80.00 target price on the stock. Zacks Investment Research downgraded shares of Consolidated Edison from a “buy” rating to a “hold” rating in a report on Friday, January 19th. Finally, JPMorgan Chase & Co. began coverage on shares of Consolidated Edison in a report on Friday, January 12th. They issued an “underweight” rating and a $78.00 target price on the stock. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. Consolidated Edison currently has a consensus rating of “Hold” and a consensus price target of $81.32.
Shares of Consolidated Edison, Inc. (ED) opened at $76.76 on Friday. The company has a market cap of $23,798.14, a PE ratio of 18.61, a P/E/G ratio of 4.49 and a beta of 0.10. Consolidated Edison, Inc. has a fifty-two week low of $73.73 and a fifty-two week high of $89.70. The company has a current ratio of 0.72, a quick ratio of 0.65 and a debt-to-equity ratio of 0.96.
Consolidated Edison (NYSE:ED) last released its quarterly earnings data on Thursday, February 15th. The utilities provider reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.02. The firm had revenue of $2.96 billion for the quarter, compared to the consensus estimate of $2.64 billion. Consolidated Edison had a net margin of 12.67% and a return on equity of 8.51%. The firm’s revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.69 earnings per share. analysts forecast that Consolidated Edison, Inc. will post 4.27 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 15th. Investors of record on Wednesday, February 14th were issued a dividend of $0.715 per share. The ex-dividend date was Tuesday, February 13th. This represents a $2.86 dividend on an annualized basis and a yield of 3.73%. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.69. Consolidated Edison’s payout ratio is currently 57.89%.
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Consolidated Edison Profile
Consolidated Edison, Inc (Con Edison) is a holding company. The Company operates through its subsidiaries, which include Consolidated Edison Company of New York, Inc (CECONY), Orange and Rockland Utilities, Inc (O&R), Con Edison Clean Energy Businesses, Inc (the Clean Energy Businesses) and Con Edison Transmission, Inc (Con Edison Transmission).
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