Consolidated Edison, Inc. (NYSE:ED) is Inceptionr LLC’s 2nd Largest Position

Inceptionr LLC grew its stake in Consolidated Edison, Inc. (NYSE:ED) by 447.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,788 shares of the utilities provider’s stock after buying an additional 21,892 shares during the quarter. Consolidated Edison makes up 0.5% of Inceptionr LLC’s portfolio, making the stock its 2nd biggest holding. Inceptionr LLC’s holdings in Consolidated Edison were worth $2,390,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of ED. Van ECK Associates Corp grew its position in shares of Consolidated Edison by 2.9% during the third quarter. Van ECK Associates Corp now owns 95,927 shares of the utilities provider’s stock worth $10,303,000 after purchasing an additional 2,681 shares in the last quarter. Intact Investment Management Inc. purchased a new stake in shares of Consolidated Edison during the third quarter worth about $75,000. National Pension Service grew its position in shares of Consolidated Edison by 7.0% during the third quarter. National Pension Service now owns 468,572 shares of the utilities provider’s stock worth $48,792,000 after purchasing an additional 30,838 shares in the last quarter. Crestwood Advisors Group LLC grew its position in shares of Consolidated Edison by 3.9% during the third quarter. Crestwood Advisors Group LLC now owns 5,161 shares of the utilities provider’s stock worth $537,000 after purchasing an additional 192 shares in the last quarter. Finally, Avidian Wealth Enterprises LLC grew its position in shares of Consolidated Edison by 1.5% during the third quarter. Avidian Wealth Enterprises LLC now owns 10,225 shares of the utilities provider’s stock worth $1,065,000 after purchasing an additional 147 shares in the last quarter. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on ED. Mizuho increased their target price on Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Barclays increased their price target on Consolidated Edison from $92.00 to $95.00 and gave the company 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 note 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 note on Monday, February 24th. Finally, Evercore ISI lowered Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 21st. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $101.50.

Consolidated Edison Price Performance

NYSE:ED opened at $100.18 on Thursday. The firm has a market capitalization of $34.73 billion, a price-to-earnings ratio of 19.12, a PEG ratio of 3.05 and a beta of 0.39. Consolidated Edison, Inc. has a 1 year low of $87.16 and a 1 year high of $107.75. The business has a 50 day simple moving average of $93.89 and a 200-day simple moving average of $98.00. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Thursday, February 20th. The utilities provider reported $0.98 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $3.63 billion. Equities analysts forecast that Consolidated Edison, Inc. will post 5.62 EPS for the current year.

Consolidated Edison Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Wednesday, February 19th will be issued a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 3.39%. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.83. The ex-dividend date is Wednesday, February 19th. Consolidated Edison’s dividend payout ratio is presently 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.