Revolve Wealth Partners LLC Buys 441 Shares of Consolidated Edison, Inc. (NYSE:ED)

Revolve Wealth Partners LLC increased its position in Consolidated Edison, Inc. (NYSE:ED) by 13.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,721 shares of the utilities provider’s stock after purchasing an additional 441 shares during the period. Revolve Wealth Partners LLC’s holdings in Consolidated Edison were worth $332,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Capital Performance Advisors LLP bought a new stake in shares of Consolidated Edison during the 3rd quarter valued at about $27,000. Ashton Thomas Securities LLC purchased a new position in Consolidated Edison during the third quarter valued at approximately $30,000. AlphaMark Advisors LLC bought a new position in shares of Consolidated Edison in the fourth quarter worth approximately $27,000. FSA Wealth Management LLC purchased a new stake in shares of Consolidated Edison in the third quarter worth $55,000. Finally, Future Financial Wealth Managment LLC bought a new stake in shares of Consolidated Edison during the 3rd quarter valued at $55,000. 66.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ED. Jefferies Financial Group began 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. Citigroup raised Consolidated Edison from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $103.00 to $116.00 in a report on Tuesday, October 15th. Scotiabank upgraded shares of Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and boosted their price target for the stock from $90.00 to $100.00 in a research note on Thursday, December 12th. Evercore ISI lowered shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 21st. Finally, Barclays cut their target price on Consolidated Edison from $99.00 to $92.00 and set an “underweight” rating on the stock in a research report on Monday. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $100.00.

Consolidated Edison Trading Up 4.7 %

NYSE ED opened at $94.87 on Tuesday. Consolidated Edison, Inc. has a 52 week low of $85.85 and a 52 week high of $107.75. The company has a 50 day moving average price of $92.88 and a 200 day moving average price of $98.07. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07. The firm has a market cap of $32.87 billion, a PE ratio of 17.87, a price-to-earnings-growth ratio of 2.89 and a beta of 0.38.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Thursday, November 7th. The utilities provider reported $1.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.56 by $0.12. The business had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $4.02 billion. Consolidated Edison had a return on equity of 8.70% and a net margin of 12.27%. As a group, sell-side analysts forecast that Consolidated Edison, Inc. will post 5.35 EPS for the current fiscal year.

Consolidated Edison Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Wednesday, February 19th will be paid a dividend of $0.85 per share. This is a positive change 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 dividend on an annualized basis and a dividend yield of 3.58%. Consolidated Edison’s payout ratio is presently 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.