Consolidated Edison, Inc. (NYSE:ED) Shares Acquired by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. grew its holdings in Consolidated Edison, Inc. (NYSE:ED) by 7.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 24,820 shares of the utilities provider’s stock after purchasing an additional 1,684 shares during the period. Avantax Advisory Services Inc.’s holdings in Consolidated Edison were worth $2,215,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Point72 Asset Management L.P. lifted its stake in Consolidated Edison by 1,766.0% during the 3rd quarter. Point72 Asset Management L.P. now owns 988,961 shares of the utilities provider’s stock worth $102,980,000 after acquiring an additional 935,962 shares in the last quarter. FMR LLC lifted its stake in Consolidated Edison by 82.3% during the 3rd quarter. FMR LLC now owns 1,268,424 shares of the utilities provider’s stock worth $132,081,000 after acquiring an additional 572,530 shares in the last quarter. National Bank of Canada FI lifted its stake in Consolidated Edison by 350.6% during the 3rd quarter. National Bank of Canada FI now owns 620,705 shares of the utilities provider’s stock worth $64,634,000 after acquiring an additional 482,953 shares in the last quarter. Jupiter Asset Management Ltd. acquired a new position in Consolidated Edison during the 4th quarter worth about $42,916,000. Finally, Cbre Investment Management Listed Real Assets LLC acquired a new position in Consolidated Edison during the 4th quarter worth about $37,147,000. Institutional investors and hedge funds own 66.29% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on ED shares. Barclays increased their target price on Consolidated Edison from $92.00 to $95.00 and gave the stock an “underweight” rating in a research note on Monday, February 24th. UBS Group increased their price target on Consolidated Edison from $105.00 to $110.00 and gave the company a “neutral” rating in a research report on Tuesday, February 25th. Scotiabank increased their price target on Consolidated Edison from $100.00 to $101.00 and gave the company a “sector perform” rating in a research report on Monday, February 24th. Mizuho increased their price target on Consolidated Edison from $92.00 to $95.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Finally, Morgan Stanley reduced their price target on Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating on the stock in a research report on Friday, November 22nd. Two 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 MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $101.50.

Consolidated Edison Trading Up 1.9 %

ED opened at $106.60 on Monday. Consolidated Edison, Inc. has a one year low of $87.16 and a one year high of $107.97. The company has a market cap of $36.97 billion, a P/E ratio of 20.34, a PEG ratio of 3.05 and a beta of 0.30. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01. The business’s 50-day simple moving average is $95.96 and its 200-day simple moving average is $98.17.

Consolidated Edison (NYSE:ED) last released its quarterly earnings data on Thursday, February 20th. The utilities provider reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.01. The business had revenue of $3.67 billion for 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%. As a group, equities research analysts expect that Consolidated Edison, Inc. will post 5.62 EPS for the current fiscal year.

Consolidated Edison Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Wednesday, February 19th were paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date was Wednesday, February 19th. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.83. Consolidated Edison’s dividend payout ratio (DPR) is currently 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.