Simon Quick Advisors LLC Boosts Holdings in Consolidated Edison, Inc. (NYSE:ED)

Simon Quick Advisors LLC grew its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 67.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,629 shares of the utilities provider’s stock after acquiring an additional 2,273 shares during the quarter. Simon Quick Advisors LLC’s holdings in Consolidated Edison were worth $502,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of ED. Capital Performance Advisors LLP purchased a new position in Consolidated Edison during the third quarter worth approximately $27,000. Ashton Thomas Securities LLC acquired a new stake in shares of Consolidated Edison during the 3rd quarter worth $30,000. FSA Wealth Management LLC acquired a new stake in shares of Consolidated Edison during the 3rd quarter worth $55,000. Future Financial Wealth Managment LLC purchased a new position in shares of Consolidated Edison in the 3rd quarter worth $55,000. Finally, Webster Bank N. A. boosted its holdings in Consolidated Edison by 189.5% in the third quarter. Webster Bank N. A. now owns 579 shares of the utilities provider’s stock valued at $60,000 after acquiring an additional 379 shares during the last quarter. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

Consolidated Edison Trading Down 2.6 %

Shares of ED opened at $90.79 on Thursday. Consolidated Edison, Inc. has a one year low of $85.85 and a one year high of $107.75. The stock has a 50-day moving average price of $93.18 and a 200 day moving average price of $98.03. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01. The company has a market capitalization of $31.45 billion, a P/E ratio of 17.10, a P/E/G ratio of 2.99 and a beta of 0.38.

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

Consolidated Edison Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Wednesday, February 19th will be given a $0.85 dividend. The ex-dividend date is Wednesday, February 19th. This represents a $3.40 annualized dividend and a dividend yield of 3.75%. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.83. Consolidated Edison’s payout ratio is presently 62.52%.

Analyst Ratings Changes

ED has been the subject of several research analyst reports. Jefferies Financial Group began coverage on Consolidated Edison in a research note on Wednesday, October 9th. They set a “hold” rating and a $108.00 price target for the company. Citigroup raised shares of Consolidated Edison from a “neutral” rating to a “buy” rating and increased their target price for the stock from $103.00 to $116.00 in a research report on Tuesday, October 15th. Barclays reduced their price target on shares of Consolidated Edison from $104.00 to $99.00 and set an “underweight” rating on the stock in a research report on Friday, November 8th. Scotiabank upgraded shares of Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and boosted their price objective for the stock from $90.00 to $100.00 in a research note on Thursday, December 12th. Finally, Evercore ISI raised shares of Consolidated Edison from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 8th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $100.64.

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.