AlphaMark Advisors LLC Buys New Holdings in Consolidated Edison, Inc. (NYSE:ED)

AlphaMark Advisors LLC purchased a new position in shares of Consolidated Edison, Inc. (NYSE:ED) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 305 shares of the utilities provider’s stock, valued at approximately $27,000.

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ED. Citigroup upgraded shares of Consolidated Edison from a “neutral” rating to a “buy” rating and raised their target price for the stock from $103.00 to $116.00 in a research report on Tuesday, October 15th. Evercore ISI downgraded shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 21st. Jefferies Financial Group assumed coverage on shares of Consolidated Edison in a report on Wednesday, October 9th. They issued a “hold” rating and a $108.00 target price for the company. Barclays lowered their target price on Consolidated Edison from $104.00 to $99.00 and set an “underweight” rating on the stock in a research note on Friday, November 8th. Finally, Scotiabank raised shares of Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and lifted their target price for the company from $90.00 to $100.00 in a report on Thursday, December 12th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $100.64.

Consolidated Edison Price Performance

ED stock opened at $90.66 on Monday. The stock’s 50 day moving average price is $92.88 and its 200 day moving average price is $98.01. The firm has a market cap of $31.41 billion, a P/E ratio of 17.07, a PEG ratio of 2.89 and a beta of 0.38. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01. Consolidated Edison, Inc. has a 1 year low of $85.85 and a 1 year high of $107.75.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings data 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 return on equity of 8.70% and a net margin of 12.27%. The business had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $4.02 billion. On average, sell-side analysts expect that Consolidated Edison, Inc. will post 5.35 earnings per share for the current fiscal year.

Consolidated Edison Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Wednesday, February 19th will be paid a dividend of $0.85 per share. 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. This represents a $3.40 annualized dividend and a dividend yield of 3.75%. Consolidated Edison’s dividend payout ratio is presently 62.52%.

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.