Calton & Associates Inc. Purchases Shares of 9,076 Consolidated Edison Inc $ED

Calton & Associates Inc. acquired a new position in shares of Consolidated Edison Inc (NYSE:ED) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 9,076 shares of the utilities provider’s stock, valued at approximately $912,000.

A number of other large investors have also modified their holdings of the company. Vanguard Group Inc. increased its holdings in Consolidated Edison by 4.5% in the 2nd quarter. Vanguard Group Inc. now owns 45,040,811 shares of the utilities provider’s stock valued at $4,519,845,000 after buying an additional 1,923,717 shares during the period. Geode Capital Management LLC increased its stake in Consolidated Edison by 6.1% in the second quarter. Geode Capital Management LLC now owns 9,796,782 shares of the utilities provider’s stock valued at $979,204,000 after acquiring an additional 566,358 shares during the period. Norges Bank acquired a new position in Consolidated Edison in the second quarter worth about $462,218,000. ATLAS Infrastructure Partners UK Ltd. lifted its stake in Consolidated Edison by 4.8% during the second quarter. ATLAS Infrastructure Partners UK Ltd. now owns 2,409,288 shares of the utilities provider’s stock worth $241,772,000 after purchasing an additional 110,666 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in Consolidated Edison by 4.6% during the second quarter. Charles Schwab Investment Management Inc. now owns 2,376,237 shares of the utilities provider’s stock worth $238,455,000 after purchasing an additional 104,643 shares during the period. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Consolidated Edison Stock Up 1.7%

Shares of NYSE:ED opened at $113.59 on Monday. The company has a quick ratio of 0.97, a current ratio of 1.08 and a debt-to-equity ratio of 1.03. The firm has a market cap of $41.00 billion, a P/E ratio of 19.86, a P/E/G ratio of 3.10 and a beta of 0.38. Consolidated Edison Inc has a 12 month low of $94.50 and a 12 month high of $114.87. The company’s 50-day moving average price is $102.16 and its two-hundred day moving average price is $100.59.

Consolidated Edison Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Wednesday, February 18th will be issued a $0.8875 dividend. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.85. This represents a $3.55 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Wednesday, February 18th. Consolidated Edison’s dividend payout ratio (DPR) is 59.44%.

Analyst Ratings Changes

ED has been the subject of a number of recent research reports. Royal Bank Of Canada reissued a “sector perform” rating and issued a $118.00 target price on shares of Consolidated Edison in a report on Friday, January 23rd. Morgan Stanley reiterated an “underweight” rating and set a $96.00 price objective on shares of Consolidated Edison in a research note on Wednesday, January 21st. JPMorgan Chase & Co. reduced their target price on shares of Consolidated Edison from $101.00 to $97.00 and set an “underweight” rating on the stock in a research note on Friday, December 12th. Wells Fargo & Company dropped their target price on shares of Consolidated Edison from $99.00 to $95.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 20th. Finally, KeyCorp cut their price target on shares of Consolidated Edison from $90.00 to $86.00 and set an “underweight” rating for the company in a report on Friday, December 12th. Three research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $104.20.

Insiders Place Their Bets

In other news, Director John F. Killian sold 2,276 shares of Consolidated Edison stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $96.89, for a total value of $220,521.64. Following the completion of the sale, the director directly owned 38,661 shares of the company’s stock, valued at approximately $3,745,864.29. This trade represents a 5.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.17% of the stock is owned by company insiders.

Consolidated Edison Company Profile

Consolidated Edison, Inc, commonly known as Con Edison, is an investor-owned energy company that primarily delivers electricity, natural gas and steam to customers in the New York metropolitan area. Its regulated utility operations include the distribution and transmission of electric power, the distribution of natural gas, and the operation of one of the largest district steam systems in the United States, serving commercial, institutional and residential customers in New York City and nearby counties.

The company operates through regulated utility subsidiaries that serve urban and suburban service territories, together with non-utility businesses that develop, own and manage energy infrastructure and clean energy projects.