Consolidated Edison, Inc. (NYSE:ED) Holdings Boosted by Dumont & Blake Investment Advisors LLC

Dumont & Blake Investment Advisors LLC boosted its position in shares of Consolidated Edison, Inc. (NYSE:ED) by 12.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,271 shares of the utilities provider’s stock after purchasing an additional 487 shares during the period. Dumont & Blake Investment Advisors LLC’s holdings in Consolidated Edison were worth $381,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Crews Bank & Trust purchased a new position in Consolidated Edison during the 4th quarter worth approximately $88,000. OLD Second National Bank of Aurora purchased a new position in shares of Consolidated Edison during the 4th quarter valued at $128,000. Busey Bank grew its holdings in shares of Consolidated Edison by 3.7% during the 4th quarter. Busey Bank now owns 96,688 shares of the utilities provider’s stock valued at $8,627,000 after acquiring an additional 3,480 shares in the last quarter. Allen Capital Group LLC grew its holdings in shares of Consolidated Edison by 28.6% during the 4th quarter. Allen Capital Group LLC now owns 10,609 shares of the utilities provider’s stock valued at $947,000 after acquiring an additional 2,359 shares in the last quarter. Finally, Forsta AP Fonden grew its holdings in shares of Consolidated Edison by 6.4% during the 4th quarter. Forsta AP Fonden now owns 150,200 shares of the utilities provider’s stock valued at $13,402,000 after acquiring an additional 9,100 shares in the last quarter. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

Consolidated Edison Stock Up 1.5 %

Consolidated Edison stock opened at $93.93 on Friday. The firm has a market cap of $32.54 billion, a price-to-earnings ratio of 17.69, a P/E/G ratio of 2.89 and a beta of 0.38. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93. Consolidated Edison, Inc. has a fifty-two week low of $85.85 and a fifty-two week high of $107.75. The firm has a fifty day moving average price of $92.67 and a two-hundred day moving average price of $98.06.

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

Consolidated Edison Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders 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 3.62%. Consolidated Edison’s payout ratio is presently 62.52%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on ED shares. Evercore ISI cut shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 21st. Citigroup upgraded shares of Consolidated Edison from a “neutral” rating to a “buy” rating and boosted their price target for the company from $103.00 to $116.00 in a report on Tuesday, October 15th. Morgan Stanley reduced their price objective on shares of Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating for the company in a research note on Friday, November 22nd. Jefferies Financial Group began coverage on shares of Consolidated Edison in a research note on Wednesday, October 9th. They issued a “hold” rating and a $108.00 price objective for the company. Finally, Barclays reduced their price objective on shares of Consolidated Edison from $99.00 to $92.00 and set an “underweight” rating for the company in a research note on Monday. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $100.00.

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.