Sound Financial Strategies Group LLC Acquires 1,268 Shares of Consolidated Edison, Inc. (NYSE:ED)

Sound Financial Strategies Group LLC grew its holdings in shares of Consolidated Edison, Inc. (NYSE:ED) by 16.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 9,102 shares of the utilities provider’s stock after buying an additional 1,268 shares during the quarter. Sound Financial Strategies Group LLC’s holdings in Consolidated Edison were worth $812,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Capital Performance Advisors LLP bought a new stake in Consolidated Edison during the 3rd quarter valued at $27,000. AlphaMark Advisors LLC bought a new stake in Consolidated Edison during the 4th quarter valued at $27,000. Ashton Thomas Securities LLC bought a new stake in Consolidated Edison during the 3rd quarter valued at $30,000. Centricity Wealth Management LLC bought a new stake in Consolidated Edison during the 4th quarter valued at $39,000. Finally, CGC Financial Services LLC boosted its position in Consolidated Edison by 64.0% during the 4th quarter. CGC Financial Services LLC now owns 546 shares of the utilities provider’s stock valued at $49,000 after acquiring an additional 213 shares in the last quarter. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Price Performance

NYSE:ED opened at $102.38 on Wednesday. Consolidated Edison, Inc. has a 52 week low of $87.16 and a 52 week high of $107.75. 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 stock has a market capitalization of $35.49 billion, a PE ratio of 19.54, a price-to-earnings-growth ratio of 3.05 and a beta of 0.39. The stock’s 50-day moving average price is $93.67 and its 200-day moving average price is $97.98.

Consolidated Edison (NYSE:ED) last posted its 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 firm had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.63 billion. As a group, equities analysts expect that Consolidated Edison, Inc. will post 5.62 EPS for the current fiscal year.

Consolidated Edison Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Wednesday, February 19th will be issued a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 3.32%. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.83. The ex-dividend date is Wednesday, February 19th. Consolidated Edison’s payout ratio is presently 64.89%.

Analysts Set New Price Targets

Several brokerages have recently commented on ED. Mizuho increased their price objective on 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 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 stock an “underweight” rating in a research note on Monday, February 24th. Evercore ISI lowered Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 21st. Finally, Morgan Stanley reduced their target price 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 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 stock. According to data from MarketBeat.com, Consolidated Edison currently has an average rating of “Hold” and an average price target of $101.50.

Consolidated Edison Company 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.