Cerity Partners LLC Acquires 17,521 Shares of Consolidated Edison, Inc. (NYSE:ED)

Cerity Partners LLC boosted its position in shares of Consolidated Edison, Inc. (NYSE:ED) by 44.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 57,163 shares of the utilities provider’s stock after purchasing an additional 17,521 shares during the quarter. Cerity Partners LLC’s holdings in Consolidated Edison were worth $5,200,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Financial Gravity Asset Management Inc. grew its position in Consolidated Edison by 215.6% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 284 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 194 shares during the last quarter. Level Financial Advisors Inc. purchased a new stake in shares of Consolidated Edison during the 3rd quarter valued at about $26,000. Retirement Group LLC boosted its holdings in shares of Consolidated Edison by 74.8% during the 4th quarter. Retirement Group LLC now owns 271 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 116 shares during the last quarter. Tyler Stone Wealth Management purchased a new stake in shares of Consolidated Edison during the 2nd quarter valued at about $28,000. Finally, Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Consolidated Edison during the 4th quarter valued at about $29,000. 66.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Consolidated Edison Price Performance

NYSE ED opened at $87.42 on Wednesday. Consolidated Edison, Inc. has a 12 month low of $80.46 and a 12 month high of $100.92. The stock has a market cap of $30.20 billion, a price-to-earnings ratio of 12.18, a PEG ratio of 8.36 and a beta of 0.35. The company’s 50 day moving average is $88.85 and its two-hundred day moving average is $89.53. 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 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.02. Consolidated Edison had a net margin of 17.19% and a return on equity of 8.41%. The company had revenue of $3.44 billion for the quarter, compared to analysts’ expectations of $3.70 billion. During the same quarter last year, the business earned $0.81 EPS. The firm’s revenue was down 14.6% compared to the same quarter last year. As a group, research analysts anticipate that Consolidated Edison, Inc. will post 5.3 earnings per share for the current year.

Consolidated Edison Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Wednesday, February 14th were given a dividend of $0.83 per share. The ex-dividend date of this dividend was Tuesday, February 13th. This represents a $3.32 annualized dividend and a dividend yield of 3.80%. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.81. Consolidated Edison’s dividend payout ratio (DPR) is presently 46.24%.

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.