Horizon Investments LLC Purchases 147 Shares of Consolidated Edison, Inc. (NYSE:ED)

Horizon Investments LLC increased its position in shares of Consolidated Edison, Inc. (NYSE:ED) by 2.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,312 shares of the utilities provider’s stock after buying an additional 147 shares during the period. Horizon Investments LLC’s holdings in Consolidated Edison were worth $563,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. TD Private Client Wealth LLC boosted 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 worth $243,000 after buying an additional 104 shares during the period. Jacobi Capital Management LLC boosted 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 worth $229,000 after buying an additional 104 shares during the period. D.A. Davidson & CO. boosted 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 worth $1,160,000 after buying an additional 124 shares during the period. Townsquare Capital LLC boosted its holdings in Consolidated Edison by 2.4% in the 3rd quarter. Townsquare Capital LLC now owns 5,574 shares of the utilities provider’s stock valued at $580,000 after purchasing an additional 130 shares during the period. Finally, Trust Point Inc. boosted its holdings in Consolidated Edison by 4.9% in the 4th quarter. Trust Point Inc. now owns 2,790 shares of the utilities provider’s stock valued at $249,000 after purchasing an additional 131 shares during the period. 66.29% of the stock is owned by institutional investors.

Consolidated Edison Trading Up 1.0 %

Shares of Consolidated Edison stock opened at $108.54 on Friday. The stock has a market capitalization of $37.64 billion, a P/E ratio of 20.71, a price-to-earnings-growth ratio of 3.05 and a beta of 0.30. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07. The company has a 50-day simple moving average of $97.52 and a 200 day simple moving average of $98.39. Consolidated Edison, Inc. has a 12-month low of $87.16 and a 12-month high of $109.78.

Consolidated Edison (NYSE:ED) last announced its earnings results on Thursday, February 20th. The utilities provider reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.01. The business had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.63 billion. Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. Research analysts expect that Consolidated Edison, Inc. will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Increases Dividend

The business 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 represents a $3.40 annualized dividend and a yield of 3.13%. The ex-dividend date of this dividend was Wednesday, February 19th. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.83. Consolidated Edison’s dividend payout ratio (DPR) is presently 64.89%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on ED shares. Morgan Stanley increased their price target on shares of Consolidated Edison from $85.00 to $91.00 and gave the company an “underweight” rating in a report on Thursday. Scotiabank increased their price target on shares of Consolidated Edison from $100.00 to $101.00 and gave the company a “sector perform” rating in a report on Monday, February 24th. Mizuho increased their price target on shares of Consolidated Edison from $92.00 to $95.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. UBS Group increased their price target on shares of Consolidated Edison from $105.00 to $110.00 and gave the company a “neutral” rating in a report on Tuesday, February 25th. Finally, Barclays increased their price target on shares of Consolidated Edison from $92.00 to $95.00 and gave the company an “underweight” rating in a report on Monday, February 24th. Two equities 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 MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $102.10.

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.