James J. Burns & Company LLC Grows Position in Consolidated Edison, Inc. (NYSE:ED)

James J. Burns & Company LLC boosted its stake in Consolidated Edison, Inc. (NYSE:ED) by 61.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,947 shares of the utilities provider’s stock after buying an additional 3,790 shares during the period. James J. Burns & Company LLC’s holdings in Consolidated Edison were worth $888,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Wilmington Savings Fund Society FSB purchased a new stake in shares of Consolidated Edison in the 3rd quarter valued at approximately $776,000. Pathway Financial Advisers LLC raised its position in Consolidated Edison by 10,302.6% in the third quarter. Pathway Financial Advisers LLC now owns 24,446 shares of the utilities provider’s stock valued at $2,546,000 after purchasing an additional 24,211 shares during the period. JPMorgan Chase & Co. lifted its stake in Consolidated Edison by 4.0% during the third quarter. JPMorgan Chase & Co. now owns 2,145,128 shares of the utilities provider’s stock worth $223,373,000 after purchasing an additional 82,985 shares in the last quarter. Hennessy Advisors Inc. grew its stake in shares of Consolidated Edison by 2.8% in the fourth quarter. Hennessy Advisors Inc. now owns 143,136 shares of the utilities provider’s stock valued at $12,772,000 after buying an additional 3,900 shares in the last quarter. Finally, Gateway Investment Advisers LLC raised its holdings in shares of Consolidated Edison by 102.7% in the 4th quarter. Gateway Investment Advisers LLC now owns 430,279 shares of the utilities provider’s stock valued at $38,394,000 after buying an additional 217,981 shares during the period. Institutional investors and hedge funds own 66.29% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on ED. Citigroup upgraded Consolidated Edison from a “neutral” rating to a “buy” rating and raised their target price for the company from $103.00 to $116.00 in a report on Tuesday, October 15th. Morgan Stanley lowered their price objective 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. Scotiabank raised shares of Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and upped their target price for the stock from $90.00 to $100.00 in a research note on Thursday, December 12th. Barclays decreased their price target on shares of Consolidated Edison from $99.00 to $92.00 and set an “underweight” rating for the company in a research report on Monday, January 27th. Finally, Mizuho upped their price objective on Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a research report on Monday. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Consolidated Edison has an average rating of “Hold” and an average price target of $100.00.

Consolidated Edison Trading Up 2.2 %

ED opened at $95.76 on Tuesday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01. Consolidated Edison, Inc. has a one year low of $85.85 and a one year high of $107.75. The company has a market cap of $33.17 billion, a P/E ratio of 18.03, a PEG ratio of 2.99 and a beta of 0.39. The business’s 50-day simple moving average is $92.49 and its 200-day simple moving average is $98.14.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings data on Thursday, November 7th. The utilities provider reported $1.68 earnings per share 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 the consensus estimate of $4.02 billion. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.70%. As a group, equities research analysts expect that Consolidated Edison, Inc. will post 5.35 EPS for the current fiscal year.

Consolidated Edison Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Wednesday, February 19th will be given a $0.85 dividend. The ex-dividend date is Wednesday, February 19th. This is a boost 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 3.55%. Consolidated Edison’s dividend payout ratio is 62.52%.

Consolidated Edison Company 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.