Consolidated Edison, Inc. (NYSE:ED) Shares Acquired by Sound View Wealth Advisors Group LLC

Sound View Wealth Advisors Group LLC increased its holdings in Consolidated Edison, Inc. (NYSE:ED) by 12.4% during the 4th quarter, HoldingsChannel reports. The fund owned 29,350 shares of the utilities provider’s stock after acquiring an additional 3,239 shares during the quarter. Sound View Wealth Advisors Group LLC’s holdings in Consolidated Edison were worth $2,619,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Capital Performance Advisors LLP acquired a new position in shares of Consolidated Edison in the third quarter worth about $27,000. Ashton Thomas Securities LLC acquired a new position in shares of Consolidated Edison in the third quarter worth about $30,000. AlphaMark Advisors LLC acquired a new position in shares of Consolidated Edison in the fourth quarter worth about $27,000. OFI Invest Asset Management acquired a new position in shares of Consolidated Edison in the fourth quarter worth about $35,000. Finally, Centricity Wealth Management LLC acquired a new position in shares of Consolidated Edison in the fourth quarter worth about $39,000. Institutional investors and hedge funds own 66.29% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the company. Scotiabank boosted their price target on Consolidated Edison from $100.00 to $101.00 and gave the stock a “sector perform” rating in a research note on Monday, February 24th. Mizuho upped their price objective on Consolidated Edison from $92.00 to $95.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Morgan Stanley cut their price objective on Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating on the stock in a research note on Friday, November 22nd. UBS Group upped their price objective on Consolidated Edison from $105.00 to $110.00 and gave the company a “neutral” rating in a research note on Tuesday, February 25th. Finally, Barclays upped their price objective on Consolidated Edison from $92.00 to $95.00 and gave the company an “underweight” rating in a research note on Monday, February 24th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $101.50.

Consolidated Edison Stock Up 2.8 %

NYSE:ED opened at $103.73 on Friday. The firm has a market capitalization of $35.97 billion, a PE ratio of 19.80, a price-to-earnings-growth ratio of 3.05 and a beta of 0.30. The stock has a 50 day moving average of $94.39 and a 200-day moving average of $98.03. Consolidated Edison, Inc. has a 52 week low of $87.16 and a 52 week high of $107.75. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.07.

Consolidated Edison (NYSE:ED) last posted its earnings results on Thursday, February 20th. The utilities provider reported $0.98 EPS for the quarter, beating the consensus estimate of $0.97 by $0.01. Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. The company had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.63 billion. Analysts predict that Consolidated Edison, Inc. will post 5.62 EPS for the current year.

Consolidated Edison Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Wednesday, February 19th will be issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 3.28%. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.83. The ex-dividend date is Wednesday, February 19th. Consolidated Edison’s dividend payout ratio is 64.89%.

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.