Physician Wealth Advisors Inc. Purchases New Position in Consolidated Edison, Inc. (NYSE:ED)

Physician Wealth Advisors Inc. acquired a new position in shares of Consolidated Edison, Inc. (NYSE:ED) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,124 shares of the utilities provider’s stock, valued at approximately $100,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. CIBC Private Wealth Group LLC increased its holdings in shares of Consolidated Edison by 1,327.9% during the fourth quarter. CIBC Private Wealth Group LLC now owns 322,436 shares of the utilities provider’s stock worth $28,700,000 after buying an additional 299,855 shares in the last quarter. Schroder Investment Management Group increased its holdings in Consolidated Edison by 33.6% in the 4th quarter. Schroder Investment Management Group now owns 628,438 shares of the utilities provider’s stock worth $56,032,000 after purchasing an additional 157,976 shares in the last quarter. Allianz SE bought a new position in Consolidated Edison in the fourth quarter valued at about $246,000. Allstate Corp acquired a new stake in shares of Consolidated Edison during the fourth quarter valued at about $950,000. Finally, DnB Asset Management AS grew its holdings in shares of Consolidated Edison by 7.8% during the fourth quarter. DnB Asset Management AS now owns 153,137 shares of the utilities provider’s stock worth $13,664,000 after purchasing an additional 11,069 shares during the last quarter. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Price Performance

Shares of ED opened at $108.81 on Monday. The firm has a market cap of $37.73 billion, a PE ratio of 20.77, a price-to-earnings-growth ratio of 3.05 and a beta of 0.30. Consolidated Edison, Inc. has a 52-week low of $87.28 and a 52-week high of $109.44. The business’s 50 day moving average price is $99.56 and its two-hundred day moving average price is $98.47. 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 (NYSE:ED) last released its quarterly earnings data on Thursday, February 20th. The utilities provider reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.01. The company had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.63 billion. Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. On average, equities analysts anticipate that Consolidated Edison, Inc. will post 5.62 EPS for the current year.

Consolidated Edison Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Wednesday, February 19th were issued a dividend of $0.85 per share. The ex-dividend date of this dividend was Wednesday, February 19th. This represents a $3.40 annualized dividend and a dividend yield of 3.12%. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.83. Consolidated Edison’s dividend payout ratio is currently 64.89%.

Analyst Ratings Changes

Several research firms recently commented on ED. UBS Group lifted their target price on shares of Consolidated Edison from $110.00 to $113.00 and gave the stock a “neutral” rating in a research report on Friday, March 21st. Mizuho boosted their price objective on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Scotiabank raised their target price on Consolidated Edison from $100.00 to $101.00 and gave the stock a “sector perform” rating in a research report on Monday, February 24th. Barclays increased their price target on Consolidated Edison from $92.00 to $95.00 and gave the company an “underweight” rating in a research note on Monday, February 24th. Finally, Morgan Stanley lifted their price objective on Consolidated Edison from $85.00 to $91.00 and gave the stock an “underweight” rating in a research note on Thursday, March 20th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $102.40.

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.