Geneos Wealth Management Inc. Has $502,000 Stake in Consolidated Edison, Inc. (NYSE:ED)

Geneos Wealth Management Inc. reduced its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 29.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,513 shares of the utilities provider’s stock after selling 2,315 shares during the quarter. Geneos Wealth Management Inc.’s holdings in Consolidated Edison were worth $502,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Financial Gravity Asset Management Inc. raised its stake in shares of Consolidated Edison by 215.6% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 284 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 194 shares in the last quarter. Level Financial Advisors Inc. bought a new position in Consolidated Edison during the third quarter valued at approximately $26,000. Retirement Group LLC raised its position in Consolidated Edison by 74.8% during the fourth quarter. Retirement Group LLC now owns 271 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 116 shares in the last quarter. Tyler Stone Wealth Management acquired a new stake in Consolidated Edison in the second quarter valued at approximately $28,000. Finally, Turtle Creek Wealth Advisors LLC bought a new stake in Consolidated Edison in the fourth quarter worth approximately $29,000. 66.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Barclays raised their price target on shares of Consolidated Edison from $86.00 to $87.00 and gave the company an “equal weight” rating in a report on Thursday, March 14th. Royal Bank of Canada reduced their price target on Consolidated Edison from $94.00 to $93.00 and set a “sector perform” rating for the company in a research report on Friday, February 16th. UBS Group lowered their price objective on Consolidated Edison from $99.00 to $94.00 and set a “neutral” rating on the stock in a report on Friday, February 16th. Scotiabank boosted their target price on Consolidated Edison from $90.00 to $91.00 and gave the stock a “sector underperform” rating in a report on Tuesday, February 20th. Finally, LADENBURG THALM/SH SH assumed coverage on Consolidated Edison in a report on Wednesday, January 3rd. They set a “neutral” rating and a $92.50 price target on the stock. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $87.96.

Consolidated Edison Trading Up 0.1 %

Shares of ED stock opened at $88.63 on Friday. The firm has a market capitalization of $30.62 billion, a P/E ratio of 12.34, a price-to-earnings-growth ratio of 8.35 and a beta of 0.35. Consolidated Edison, Inc. has a 1 year low of $80.46 and a 1 year high of $100.92. The firm’s fifty day simple moving average is $88.91 and its 200 day simple moving average is $89.47. The company has a current ratio of 1.01, a quick ratio of 0.94 and a debt-to-equity ratio of 1.04.

Consolidated Edison (NYSE:ED) last released its earnings results on Thursday, February 15th. The utilities provider reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.02. The business had revenue of $3.44 billion for the quarter, compared to the consensus estimate of $3.70 billion. Consolidated Edison had a return on equity of 8.41% and a net margin of 17.19%. The firm’s revenue for the quarter was down 14.6% compared to the same quarter last year. During the same period last year, the business earned $0.81 earnings per share. As a group, sell-side analysts predict that Consolidated Edison, Inc. will post 5.3 EPS for the current year.

Consolidated Edison Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Wednesday, February 14th were paid a dividend of $0.83 per share. The ex-dividend date of this dividend was Tuesday, February 13th. This represents a $3.32 dividend on an annualized basis and a yield of 3.75%. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.81. Consolidated Edison’s payout ratio is currently 46.24%.

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.