Signaturefd LLC Buys 501 Shares of Consolidated Edison, Inc. (NYSE:ED)

Signaturefd LLC increased its position in Consolidated Edison, Inc. (NYSE:ED) by 5.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,460 shares of the utilities provider’s stock after buying an additional 501 shares during the quarter. Signaturefd LLC’s holdings in Consolidated Edison were worth $952,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ED. Legal & General Group Plc boosted its holdings in shares of Consolidated Edison by 0.5% during the third quarter. Legal & General Group Plc now owns 6,201,026 shares of the utilities provider’s stock worth $530,373,000 after purchasing an additional 27,850 shares during the period. Northern Trust Corp lifted its holdings in Consolidated Edison by 8.2% in the 3rd quarter. Northern Trust Corp now owns 4,484,026 shares of the utilities provider’s stock worth $383,519,000 after buying an additional 340,239 shares during the period. Morgan Stanley grew its position in shares of Consolidated Edison by 1.8% in the 3rd quarter. Morgan Stanley now owns 4,221,543 shares of the utilities provider’s stock worth $361,069,000 after buying an additional 72,915 shares during the last quarter. Invesco Ltd. increased its stake in shares of Consolidated Edison by 4.5% during the third quarter. Invesco Ltd. now owns 2,976,921 shares of the utilities provider’s stock valued at $254,616,000 after buying an additional 129,519 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Consolidated Edison by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,984,449 shares of the utilities provider’s stock valued at $169,716,000 after acquiring an additional 26,910 shares in the last quarter. 66.29% of the stock is currently owned by institutional investors.

Consolidated Edison Stock Up 1.0 %

NYSE:ED opened at $92.73 on Tuesday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.94 and a current ratio of 1.01. The firm has a market cap of $32.04 billion, a P/E ratio of 12.92, a P/E/G ratio of 8.65 and a beta of 0.35. Consolidated Edison, Inc. has a fifty-two week low of $80.46 and a fifty-two week high of $100.92. The firm has a 50-day simple moving average of $89.03 and a two-hundred day simple moving average of $89.76.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings data 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 company had revenue of $3.44 billion during the quarter, compared to analyst estimates of $3.70 billion. Consolidated Edison had a net margin of 17.19% and a return on equity of 8.41%. The firm’s revenue for the quarter was down 14.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.81 EPS. Analysts predict that Consolidated Edison, Inc. will post 5.3 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Wednesday, May 15th will be issued a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.58%. The ex-dividend date is Tuesday, May 14th. Consolidated Edison’s payout ratio is currently 46.24%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on ED shares. 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. Scotiabank reduced their price target on shares of Consolidated Edison from $91.00 to $85.00 and set a “sector underperform” rating on the stock in a research report on Monday. UBS Group lowered their price objective 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. Royal Bank of Canada reduced their target price on 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, LADENBURG THALM/SH SH started coverage on Consolidated Edison in a research note on Wednesday, January 3rd. They issued a “neutral” rating and a $92.50 target price for the company. Four research analysts have rated the stock with a sell rating, eight have issued 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.

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.