947 Shares in Consolidated Edison, Inc. (NYSE:ED) Acquired by Cetera Trust Company N.A

Cetera Trust Company N.A purchased a new position in shares of Consolidated Edison, Inc. (NYSE:ED) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 947 shares of the utilities provider’s stock, valued at approximately $86,000.

Other institutional investors have also added to or reduced their stakes in the company. Diversified Trust Co raised its stake in Consolidated Edison by 140.8% during the 4th quarter. Diversified Trust Co now owns 36,950 shares of the utilities provider’s stock worth $3,361,000 after buying an additional 21,604 shares during the period. Pacer Advisors Inc. raised its stake in Consolidated Edison by 169.9% during the 4th quarter. Pacer Advisors Inc. now owns 60,314 shares of the utilities provider’s stock worth $5,487,000 after buying an additional 37,971 shares during the period. Blackhawk Capital Partners LLC. acquired a new position in Consolidated Edison during the 4th quarter worth approximately $1,551,000. Mariner LLC raised its stake in Consolidated Edison by 24.9% during the 3rd quarter. Mariner LLC now owns 91,702 shares of the utilities provider’s stock worth $7,844,000 after buying an additional 18,270 shares during the period. Finally, Comerica Bank acquired a new position in Consolidated Edison during the 3rd quarter worth approximately $8,014,000. 66.29% of the stock is owned by institutional investors and hedge funds.

Consolidated Edison Stock Performance

ED stock opened at $92.73 on Tuesday. The firm has a market cap of $32.04 billion, a PE ratio of 12.92, a P/E/G ratio of 8.65 and a beta of 0.35. The company has a quick ratio of 0.94, a current ratio of 1.01 and a debt-to-equity ratio of 1.04. The business has a 50 day moving average of $89.03 and a 200-day moving average of $89.76. Consolidated Edison, Inc. has a 12-month low of $80.46 and a 12-month high of $100.92.

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

Consolidated Edison Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Wednesday, May 15th will be paid a $0.83 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $3.32 annualized dividend and a yield of 3.58%. Consolidated Edison’s payout ratio is 46.24%.

Analysts Set New Price Targets

A number of analysts have commented on ED shares. Royal Bank of Canada decreased their price objective on Consolidated Edison from $94.00 to $93.00 and set a “sector perform” rating for the company in a report on Friday, February 16th. LADENBURG THALM/SH SH started coverage on Consolidated Edison in a report on Wednesday, January 3rd. They set a “neutral” rating and a $92.50 price objective for the company. Barclays boosted their price objective on Consolidated Edison from $86.00 to $87.00 and gave the stock an “equal weight” rating in a report on Thursday, March 14th. Scotiabank decreased their price objective on Consolidated Edison from $91.00 to $85.00 and set a “sector underperform” rating for the company in a report on Monday. Finally, KeyCorp raised Consolidated Edison from an “underweight” rating to a “sector weight” rating in a report on Thursday, January 4th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $87.54.

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.