Armor Investment Advisors LLC Invests $207,000 in Consolidated Edison, Inc. (NYSE:ED)

Armor Investment Advisors LLC acquired a new stake in shares of Consolidated Edison, Inc. (NYSE:ED) in the third quarter, HoldingsChannel reports. The fund acquired 1,987 shares of the utilities provider’s stock, valued at approximately $207,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. lifted its stake in Consolidated Edison by 11.3% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 109,630 shares of the utilities provider’s stock valued at $10,112,000 after buying an additional 11,165 shares in the last quarter. Central Pacific Bank Trust Division purchased a new stake in shares of Consolidated Edison in the first quarter valued at $100,000. BI Asset Management Fondsmaeglerselskab A S boosted its position in shares of Consolidated Edison by 369.5% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 20,211 shares of the utilities provider’s stock worth $1,835,000 after buying an additional 15,906 shares during the period. GSA Capital Partners LLP purchased a new position in shares of Consolidated Edison during the first quarter valued at $498,000. Finally, Mediolanum International Funds Ltd acquired a new position in Consolidated Edison during the first quarter valued at $1,974,000. 66.29% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Bank of America upped their target price on Consolidated Edison from $97.00 to $109.00 and gave the company a “buy” rating in a report on Monday, August 5th. Guggenheim raised their price target on Consolidated Edison from $88.00 to $91.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Scotiabank increased their price target on shares of Consolidated Edison from $85.00 to $90.00 and gave the stock a “sector underperform” rating in a research note on Tuesday, August 20th. 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 price objective for the company. Finally, Barclays increased their price objective on Consolidated Edison from $98.00 to $104.00 and gave the company an “underweight” rating in a report on Monday, October 21st. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $98.73.

Consolidated Edison Trading Down 0.3 %

Consolidated Edison stock opened at $99.53 on Wednesday. The stock has a market cap of $34.45 billion, a price-to-earnings ratio of 19.42, a price-to-earnings-growth ratio of 3.37 and a beta of 0.36. Consolidated Edison, Inc. has a 12 month low of $85.85 and a 12 month high of $107.75. The business has a 50 day moving average price of $103.51 and a two-hundred day moving average price of $97.85. The company has a quick ratio of 0.97, a current ratio of 1.04 and a debt-to-equity ratio of 1.08.

Consolidated Edison Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Wednesday, November 13th will be given a dividend of $0.83 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $3.32 annualized dividend and a yield of 3.34%. Consolidated Edison’s dividend payout ratio (DPR) is 64.59%.

Consolidated Edison 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.