Joseph P. Lucia & Associates LLC Has $780,000 Holdings in Consolidated Edison, Inc. (NYSE:ED)

Joseph P. Lucia & Associates LLC grew its holdings in Consolidated Edison, Inc. (NYSE:ED) by 1.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,745 shares of the utilities provider’s stock after buying an additional 162 shares during the period. Joseph P. Lucia & Associates LLC’s holdings in Consolidated Edison were worth $780,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in ED. Point72 Asset Management L.P. lifted its stake in shares of Consolidated Edison by 1,766.0% during the 3rd quarter. Point72 Asset Management L.P. now owns 988,961 shares of the utilities provider’s stock worth $102,980,000 after buying an additional 935,962 shares during the last quarter. FMR LLC lifted its position in Consolidated Edison by 82.3% during the third quarter. FMR LLC now owns 1,268,424 shares of the utilities provider’s stock worth $132,081,000 after acquiring an additional 572,530 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in shares of Consolidated Edison by 10,262.1% during the third quarter. International Assets Investment Management LLC now owns 553,546 shares of the utilities provider’s stock worth $57,641,000 after acquiring an additional 548,204 shares during the period. National Bank of Canada FI boosted its holdings in shares of Consolidated Edison by 350.6% during the third quarter. National Bank of Canada FI now owns 620,705 shares of the utilities provider’s stock worth $64,634,000 after acquiring an additional 482,953 shares during the period. Finally, State Street Corp increased its stake in shares of Consolidated Edison by 1.7% during the third quarter. State Street Corp now owns 23,429,218 shares of the utilities provider’s stock worth $2,439,684,000 after purchasing an additional 399,034 shares during the period. 66.29% of the stock is currently owned by institutional investors.

Consolidated Edison Price Performance

Shares of ED stock opened at $94.87 on Tuesday. The business has a fifty day simple moving average of $92.88 and a 200 day simple moving average of $98.07. The company has a market cap of $32.86 billion, a P/E ratio of 17.87, a P/E/G ratio of 2.89 and a beta of 0.38. 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 twelve month low of $85.85 and a twelve month high of $107.75.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings results on Thursday, November 7th. The utilities provider reported $1.68 earnings per share for the quarter, beating analysts’ consensus estimates of $1.56 by $0.12. The company had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $4.02 billion. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.70%. On average, sell-side analysts forecast that Consolidated Edison, Inc. will post 5.35 EPS 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 issued 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 is Wednesday, February 19th. This represents a $3.40 annualized dividend and a dividend yield of 3.58%. Consolidated Edison’s dividend payout ratio (DPR) is 62.52%.

Analysts Set New Price Targets

ED has been the subject of several recent research reports. Barclays reduced their price target on Consolidated Edison from $99.00 to $92.00 and set an “underweight” rating for the company in a research note on Monday. Citigroup raised shares of Consolidated Edison from a “neutral” rating to a “buy” rating and raised their price target for the stock from $103.00 to $116.00 in a research report on Tuesday, October 15th. Jefferies Financial Group initiated 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. Morgan Stanley lowered 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. Finally, Scotiabank upgraded Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and boosted their price target for the company from $90.00 to $100.00 in a research note on Thursday, December 12th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $100.00.

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.