Consolidated Edison, Inc. (NYSE:ED) Shares Acquired by Savant Capital LLC

Savant Capital LLC boosted its position in shares of Consolidated Edison, Inc. (NYSE:ED) by 2.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,655 shares of the utilities provider’s stock after purchasing an additional 170 shares during the period. Savant Capital LLC’s holdings in Consolidated Edison were worth $696,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. MGO One Seven LLC grew its holdings in Consolidated Edison by 2.1% during the 3rd quarter. MGO One Seven LLC now owns 5,727 shares of the utilities provider’s stock valued at $490,000 after purchasing an additional 119 shares in the last quarter. Advisors Capital Management LLC grew its holdings in Consolidated Edison by 3.8% during the 3rd quarter. Advisors Capital Management LLC now owns 3,312 shares of the utilities provider’s stock worth $283,000 after acquiring an additional 122 shares in the last quarter. Jeppson Wealth Management LLC grew its holdings in Consolidated Edison by 1.6% during the 4th quarter. Jeppson Wealth Management LLC now owns 7,716 shares of the utilities provider’s stock worth $702,000 after acquiring an additional 125 shares in the last quarter. Sandy Spring Bank grew its holdings in Consolidated Edison by 11.4% during the 4th quarter. Sandy Spring Bank now owns 1,222 shares of the utilities provider’s stock worth $111,000 after acquiring an additional 125 shares in the last quarter. Finally, Dorsey & Whitney Trust CO LLC grew its holdings in Consolidated Edison by 4.9% during the 3rd quarter. Dorsey & Whitney Trust CO LLC now owns 2,764 shares of the utilities provider’s stock worth $236,000 after acquiring an additional 128 shares in the last quarter. 66.29% of the stock is owned by institutional investors and hedge funds.

Consolidated Edison Stock Up 0.3 %

ED stock opened at $95.56 on Friday. Consolidated Edison, Inc. has a 52 week low of $80.46 and a 52 week high of $100.44. The company has a market capitalization of $33.02 billion, a price-to-earnings ratio of 18.34, a price-to-earnings-growth ratio of 8.99 and a beta of 0.34. The firm’s 50-day moving average is $90.21 and its two-hundred day moving average is $90.13. 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, May 2nd. The utilities provider reported $2.15 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.26. Consolidated Edison had a net margin of 12.43% and a return on equity of 8.86%. The business had revenue of $4.28 billion for the quarter, compared to the consensus estimate of $4.40 billion. During the same period in the previous year, the firm earned $1.83 EPS. The business’s revenue for the quarter was down 2.8% on a year-over-year basis. On average, analysts forecast that Consolidated Edison, Inc. will post 5.31 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Wednesday, May 15th will be issued a $0.83 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.47%. Consolidated Edison’s payout ratio is currently 63.72%.

Analysts Set New Price Targets

Several brokerages have weighed in on ED. Wells Fargo & Company raised their price objective on shares of Consolidated Edison from $93.00 to $97.00 and gave the stock an “equal weight” rating in a report on Friday. UBS Group decreased their price target on shares of Consolidated Edison from $99.00 to $94.00 and set a “neutral” rating for the company in a report on Friday, February 16th. Scotiabank decreased their price target on shares of Consolidated Edison from $91.00 to $85.00 and set a “sector underperform” rating for the company in a report on Monday, April 22nd. Barclays lifted 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. Finally, Royal Bank of Canada cut their price objective on shares of Consolidated Edison from $94.00 to $93.00 and set a “sector perform” rating on the stock in a research report on Friday, February 16th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $87.75.

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.