OLD Second National Bank of Aurora Invests $128,000 in Consolidated Edison, Inc. (NYSE:ED)

OLD Second National Bank of Aurora purchased a new position in Consolidated Edison, Inc. (NYSE:ED) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 1,432 shares of the utilities provider’s stock, valued at approximately $128,000.

Several other large investors have also recently modified their holdings of ED. The Manufacturers Life Insurance Company raised its position in Consolidated Edison by 8.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 241,107 shares of the utilities provider’s stock worth $21,560,000 after buying an additional 18,776 shares during the last quarter. Creative Planning raised its position in Consolidated Edison by 2.6% in the 2nd quarter. Creative Planning now owns 91,659 shares of the utilities provider’s stock worth $8,196,000 after buying an additional 2,358 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in Consolidated Edison by 6.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 15,833 shares of the utilities provider’s stock worth $1,416,000 after buying an additional 901 shares during the last quarter. Sunbelt Securities Inc. raised its position in Consolidated Edison by 6.1% in the 2nd quarter. Sunbelt Securities Inc. now owns 3,678 shares of the utilities provider’s stock worth $329,000 after buying an additional 213 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. raised its position in Consolidated Edison by 1.6% in the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 32,362 shares of the utilities provider’s stock worth $2,894,000 after buying an additional 521 shares during the last quarter. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Consolidated Edison Trading Down 0.8 %

Consolidated Edison stock opened at $92.60 on Thursday. The firm has a 50 day moving average of $92.78 and a 200 day moving average of $98.10. The firm has a market capitalization of $32.08 billion, a price-to-earnings ratio of 17.44, a P/E/G ratio of 2.89 and a beta of 0.38. Consolidated Edison, Inc. has a 12-month low of $85.85 and a 12-month 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 released its earnings results on Thursday, November 7th. The utilities provider reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.56 by $0.12. The company had revenue of $4.09 billion during the quarter, compared to analyst estimates of $4.02 billion. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.70%. As a group, research analysts predict that Consolidated Edison, Inc. will post 5.35 earnings per share for the current year.

Consolidated Edison Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th will be issued a dividend of $0.85 per share. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.83. This represents a $3.40 dividend on an annualized basis and a yield of 3.67%. The ex-dividend date of this dividend is Wednesday, February 19th. Consolidated Edison’s dividend payout ratio (DPR) is 62.52%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Evercore ISI lowered Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 21st. Scotiabank raised Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and boosted their target price for the stock from $90.00 to $100.00 in a research report on Thursday, December 12th. Barclays cut their price target on Consolidated Edison from $99.00 to $92.00 and set an “underweight” rating for the company in a research note on Monday. Jefferies Financial Group assumed coverage on Consolidated Edison in a research note on Wednesday, October 9th. They set a “hold” rating and a $108.00 price target for the company. Finally, Morgan Stanley cut their price target on Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating for the company in a research note on Friday, November 22nd. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $100.00.

About Consolidated Edison

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.