Sanibel Captiva Trust Company Inc. Purchases 945 Shares of Consolidated Edison, Inc. (NYSE:ED)

Sanibel Captiva Trust Company Inc. increased its position in Consolidated Edison, Inc. (NYSE:ED) by 38.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,389 shares of the utilities provider’s stock after buying an additional 945 shares during the quarter. Sanibel Captiva Trust Company Inc.’s holdings in Consolidated Edison were worth $302,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. State Street Corp lifted its holdings in shares of Consolidated Edison by 1.7% in the 3rd quarter. State Street Corp now owns 23,429,218 shares of the utilities provider’s stock worth $2,439,684,000 after acquiring an additional 399,034 shares during the last quarter. Geode Capital Management LLC raised its position in Consolidated Edison by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 8,853,788 shares of the utilities provider’s stock worth $919,041,000 after purchasing an additional 107,281 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Consolidated Edison by 1.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,148,666 shares of the utilities provider’s stock worth $223,741,000 after purchasing an additional 28,254 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Consolidated Edison by 4.0% during the third quarter. JPMorgan Chase & Co. now owns 2,145,128 shares of the utilities provider’s stock valued at $223,373,000 after buying an additional 82,985 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in shares of Consolidated Edison by 11.0% during the second quarter. Dimensional Fund Advisors LP now owns 1,273,115 shares of the utilities provider’s stock valued at $113,845,000 after buying an additional 125,859 shares during the last quarter. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on ED shares. Citigroup upgraded Consolidated Edison from a “neutral” rating to a “buy” rating and increased their target price for the company from $103.00 to $116.00 in a report on Tuesday, October 15th. Morgan Stanley cut their target price on shares of Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating on the stock in a report on Friday, November 22nd. Scotiabank raised shares of Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and increased their price target for the company from $90.00 to $100.00 in a research report on Thursday, December 12th. Evercore ISI upgraded shares of Consolidated Edison from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 8th. Finally, Jefferies Financial Group assumed coverage on shares of Consolidated Edison in a report on Wednesday, October 9th. They set a “hold” rating and a $108.00 target price for the company. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $100.64.

Consolidated Edison Trading Up 1.6 %

ED opened at $93.74 on Monday. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07. Consolidated Edison, Inc. has a 52 week low of $85.85 and a 52 week high of $107.75. The stock has a market cap of $32.47 billion, a PE ratio of 17.65, a PEG ratio of 2.81 and a beta of 0.38. The business has a 50 day moving average of $93.35 and a 200-day moving average of $97.91.

Consolidated Edison (NYSE:ED) last released its earnings results on Thursday, November 7th. The utilities provider reported $1.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.56 by $0.12. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.70%. The firm had revenue of $4.09 billion during the quarter, compared to analyst estimates of $4.02 billion. Equities research analysts predict that Consolidated Edison, Inc. will post 5.35 earnings per share for the current fiscal year.

Consolidated Edison Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th will be paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 3.63%. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend is Wednesday, February 19th. Consolidated Edison’s dividend payout ratio (DPR) is currently 64.03%.

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.