Concurrent Investment Advisors LLC Has $658,000 Stock Holdings in Consolidated Edison, Inc. (NYSE:ED)

Concurrent Investment Advisors LLC decreased its position in Consolidated Edison, Inc. (NYSE:ED) by 62.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,377 shares of the utilities provider’s stock after selling 12,409 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Consolidated Edison were worth $658,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of ED. Wilmington Savings Fund Society FSB bought a new position in Consolidated Edison during the third quarter worth $776,000. JPMorgan Chase & Co. increased its holdings in Consolidated Edison by 4.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,145,128 shares of the utilities provider’s stock valued at $223,373,000 after buying an additional 82,985 shares during the period. Hennessy Advisors Inc. increased its holdings in Consolidated Edison by 2.8% in the 4th 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 during the period. Gateway Investment Advisers LLC increased its holdings in 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. Finally, National Pension Service increased its holdings in Consolidated Edison by 7.0% in the 3rd quarter. National Pension Service now owns 468,572 shares of the utilities provider’s stock valued at $48,792,000 after buying an additional 30,838 shares during the period. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Price Performance

Consolidated Edison stock opened at $98.27 on Monday. The stock has a market capitalization of $34.04 billion, a price-to-earnings ratio of 18.75, a PEG ratio of 3.05 and a beta of 0.39. The stock’s 50 day moving average price is $92.09 and its two-hundred day moving average price is $97.96. Consolidated Edison, Inc. has a 52-week low of $85.85 and a 52-week high of $107.75. 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 results on Thursday, February 20th. The utilities provider reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.01. Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. The business had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.63 billion. On average, equities analysts predict that Consolidated Edison, Inc. will post 5.62 earnings per share for the current year.

Consolidated Edison Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Wednesday, February 19th will be paid a dividend of $0.85 per share. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend is Wednesday, February 19th. This represents a $3.40 annualized dividend and a dividend yield of 3.46%. Consolidated Edison’s dividend payout ratio is presently 64.89%.

Analyst Upgrades and Downgrades

ED has been the topic of several analyst reports. Morgan Stanley lowered their price target on shares of Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating on the stock in a report on Friday, November 22nd. Evercore ISI cut Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 21st. Mizuho upped their price target on Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Scotiabank raised Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and upped their price target for the stock from $90.00 to $100.00 in a research report on Thursday, December 12th. Finally, Barclays cut their price objective on Consolidated Edison from $99.00 to $92.00 and set an “underweight” rating for the company in a report on Monday, January 27th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $100.70.

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.