CHICAGO TRUST Co NA Grows Position in Consolidated Edison, Inc. (NYSE:ED)

CHICAGO TRUST Co NA lifted its position in shares of Consolidated Edison, Inc. (NYSE:ED) by 34.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,683 shares of the utilities provider’s stock after buying an additional 4,000 shares during the period. CHICAGO TRUST Co NA’s holdings in Consolidated Edison were worth $1,399,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new position in shares of Consolidated Edison in the 3rd quarter valued at about $27,000. Ashton Thomas Securities LLC purchased a new stake in Consolidated Edison during the 3rd quarter worth $30,000. Future Financial Wealth Managment LLC acquired a new stake in Consolidated Edison in the 3rd quarter valued at $55,000. FSA Wealth Management LLC purchased a new position in Consolidated Edison in the third quarter valued at about $55,000. Finally, Webster Bank N. A. lifted its stake in shares of Consolidated Edison by 189.5% during the third quarter. Webster Bank N. A. now owns 579 shares of the utilities provider’s stock worth $60,000 after purchasing an additional 379 shares in the last quarter. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Price Performance

Shares of NYSE ED traded down $0.64 during mid-day trading on Monday, reaching $87.51. 452,800 shares of the company traded hands, compared to its average volume of 1,829,540. The firm has a market cap of $30.31 billion, a PE ratio of 16.48, a price-to-earnings-growth ratio of 3.11 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 stock has a fifty day simple moving average of $94.15 and a 200-day simple moving average of $97.91.

Consolidated Edison (NYSE:ED) last announced its earnings results on Thursday, November 7th. The utilities provider reported $1.68 EPS for the quarter, beating the consensus estimate of $1.56 by $0.12. Consolidated Edison had a return on equity of 8.70% and a net margin of 12.27%. The business had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $4.02 billion. Equities research analysts anticipate that Consolidated Edison, Inc. will post 5.34 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Wednesday, November 13th were paid a $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 3.79%. The ex-dividend date of this dividend was Wednesday, November 13th. Consolidated Edison’s dividend payout ratio is currently 62.52%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on ED shares. Barclays lowered their price target on shares of Consolidated Edison from $104.00 to $99.00 and set an “underweight” rating for the company in a report on Friday, November 8th. Jefferies Financial Group assumed coverage on shares of Consolidated Edison in a research note on Wednesday, October 9th. They issued a “hold” rating and a $108.00 target price on the stock. Scotiabank raised Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and boosted their price objective for the company from $90.00 to $100.00 in a report on Thursday, December 12th. Evercore ISI upgraded Consolidated Edison from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 8th. Finally, Citigroup upgraded 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. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Consolidated Edison has a consensus rating of “Hold” and a consensus target price of $100.64.

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.