GWN Securities Inc. Makes New Investment in Consolidated Edison, Inc. (NYSE:ED)

GWN Securities Inc. purchased a new position in Consolidated Edison, Inc. (NYSE:ED) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 13,413 shares of the utilities provider’s stock, valued at approximately $1,215,000.

Several other institutional investors and hedge funds also recently modified their holdings of ED. TD Private Client Wealth LLC increased its holdings in shares of Consolidated Edison by 4.7% during the 3rd quarter. TD Private Client Wealth LLC now owns 2,334 shares of the utilities provider’s stock valued at $243,000 after acquiring an additional 104 shares during the last quarter. Jacobi Capital Management LLC increased its holdings in shares of Consolidated Edison by 4.2% during the 4th quarter. Jacobi Capital Management LLC now owns 2,569 shares of the utilities provider’s stock valued at $229,000 after acquiring an additional 104 shares during the last quarter. D.A. Davidson & CO. increased its holdings in shares of Consolidated Edison by 1.1% during the 3rd quarter. D.A. Davidson & CO. now owns 11,142 shares of the utilities provider’s stock valued at $1,160,000 after acquiring an additional 124 shares during the last quarter. Townsquare Capital LLC increased its holdings in shares of Consolidated Edison by 2.4% during the 3rd quarter. Townsquare Capital LLC now owns 5,574 shares of the utilities provider’s stock valued at $580,000 after acquiring an additional 130 shares during the last quarter. Finally, Trust Point Inc. increased its holdings in shares of Consolidated Edison by 4.9% during the 4th quarter. Trust Point Inc. now owns 2,790 shares of the utilities provider’s stock valued at $249,000 after acquiring an additional 131 shares during the last quarter. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Price Performance

Shares of NYSE:ED opened at $106.60 on Friday. Consolidated Edison, Inc. has a 1-year low of $87.16 and a 1-year high of $107.97. The firm has a market capitalization of $36.97 billion, a PE ratio of 20.34, a PEG ratio of 3.05 and a beta of 0.30. The business’s 50 day moving average is $95.96 and its 200-day moving average is $98.18. 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, topping the consensus estimate of $0.97 by $0.01. The business had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.63 billion. Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. Sell-side analysts predict that Consolidated Edison, Inc. will post 5.62 earnings per share for the current year.

Consolidated Edison Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th were given a $0.85 dividend. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.83. The ex-dividend date was Wednesday, February 19th. This represents a $3.40 annualized dividend and a yield of 3.19%. Consolidated Edison’s payout ratio is presently 64.89%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. UBS Group increased their price objective on Consolidated Edison from $105.00 to $110.00 and gave the company a “neutral” rating in a report on Tuesday, February 25th. Barclays raised their target price on Consolidated Edison from $92.00 to $95.00 and gave the company an “underweight” rating in a report on Monday, February 24th. Scotiabank raised their target price on Consolidated Edison from $100.00 to $101.00 and gave the company a “sector perform” rating in a report on Monday, February 24th. Mizuho raised their target price on Consolidated Edison from $92.00 to $95.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Finally, Evercore ISI lowered Consolidated Edison from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 21st. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $101.50.

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.