Certior Financial Group LLC Buys Shares of 4,890 Consolidated Edison, Inc. (NYSE:ED)

Certior Financial Group LLC bought a new position in Consolidated Edison, Inc. (NYSE:ED) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 4,890 shares of the utilities provider’s stock, valued at approximately $436,000.

Other large investors have also made changes to their positions in the company. United Bank bought a new stake in Consolidated Edison during the third quarter valued at approximately $227,000. Janus Henderson Group PLC grew its position in shares of Consolidated Edison by 2.8% during the 3rd quarter. Janus Henderson Group PLC now owns 54,440 shares of the utilities provider’s stock valued at $5,669,000 after acquiring an additional 1,500 shares during the period. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Consolidated Edison in the 3rd quarter worth $872,000. Royal London Asset Management Ltd. raised its holdings in Consolidated Edison by 3.3% in the 3rd quarter. Royal London Asset Management Ltd. now owns 142,600 shares of the utilities provider’s stock worth $14,849,000 after purchasing an additional 4,560 shares during the period. Finally, Quantinno Capital Management LP lifted its position in Consolidated Edison by 42.6% during the third quarter. Quantinno Capital Management LP now owns 43,941 shares of the utilities provider’s stock valued at $4,576,000 after purchasing an additional 13,124 shares in the last quarter. 66.29% of the stock is currently owned by institutional investors.

Consolidated Edison Trading Down 2.8 %

Shares of Consolidated Edison stock opened at $109.53 on Monday. 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 $39.45 billion, a price-to-earnings ratio of 20.90, a PEG ratio of 3.05 and a beta of 0.27. Consolidated Edison, Inc. has a twelve month low of $87.28 and a twelve month high of $114.87. The business has a 50-day moving average price of $101.43 and a 200-day moving average price of $98.70.

Consolidated Edison (NYSE:ED) last released its quarterly earnings data on Thursday, February 20th. The utilities provider reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.01. The business had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.63 billion. Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. Equities research analysts anticipate that Consolidated Edison, Inc. will post 5.62 EPS for the current fiscal year.

Consolidated Edison Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Wednesday, February 19th were issued a $0.85 dividend. The ex-dividend date of this dividend was Wednesday, February 19th. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.83. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.10%. Consolidated Edison’s payout ratio is 64.89%.

Analyst Upgrades and Downgrades

A number of analysts have commented on ED shares. Scotiabank upped their price target on Consolidated Edison from $100.00 to $101.00 and gave the stock a “sector perform” rating in a research report on Monday, February 24th. Barclays increased their target price on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock an “underweight” rating in a report on Monday, February 24th. Mizuho lifted their price target on shares of Consolidated Edison from $92.00 to $95.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Evercore ISI cut shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 21st. Finally, Morgan Stanley lifted their target price on shares of Consolidated Edison from $85.00 to $91.00 and gave the company an “underweight” rating in a research note on Thursday, March 20th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $102.40.

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.