Callan Family Office LLC Invests $305,000 in Consolidated Edison, Inc. (NYSE:ED)

Callan Family Office LLC acquired a new stake in shares of Consolidated Edison, Inc. (NYSE:ED) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 3,415 shares of the utilities provider’s stock, valued at approximately $305,000.

Other hedge funds also recently bought and sold shares of the company. Capital Performance Advisors LLP bought a new position in shares of Consolidated Edison in the third quarter worth about $27,000. AlphaMark Advisors LLC purchased a new stake in Consolidated Edison in the 4th quarter valued at about $27,000. Ashton Thomas Securities LLC purchased a new stake in Consolidated Edison in the 3rd quarter valued at about $30,000. Centricity Wealth Management LLC purchased a new stake in Consolidated Edison in the 4th quarter valued at about $39,000. Finally, CGC Financial Services LLC grew its stake in Consolidated Edison by 64.0% in the 4th quarter. CGC Financial Services LLC now owns 546 shares of the utilities provider’s stock worth $49,000 after acquiring an additional 213 shares in the last quarter. Institutional investors own 66.29% of the company’s stock.

Analyst Ratings Changes

ED has been the subject of several research analyst reports. Evercore ISI downgraded shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 21st. Barclays lifted their target price on Consolidated Edison from $92.00 to $95.00 and gave the company an “underweight” rating in a research report on Monday, February 24th. UBS Group increased their price target on Consolidated Edison from $105.00 to $110.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 25th. Mizuho lifted their price objective on Consolidated Edison from $92.00 to $95.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Finally, Scotiabank raised their target price on shares of Consolidated Edison from $100.00 to $101.00 and gave the company a “sector perform” rating in a research report on Monday, February 24th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Consolidated Edison currently has a consensus rating of “Hold” and a consensus target price of $101.50.

Consolidated Edison Stock Up 2.8 %

NYSE:ED opened at $106.59 on Tuesday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01. The stock has a market capitalization of $36.96 billion, a P/E ratio of 20.34, a P/E/G ratio of 3.05 and a beta of 0.30. The company’s 50-day simple moving average is $94.74 and its 200-day simple moving average is $98.05. Consolidated Edison, Inc. has a fifty-two week low of $87.16 and a fifty-two week high of $107.97.

Consolidated Edison (NYSE:ED) last released its quarterly earnings results on Thursday, February 20th. The utilities provider reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.01. Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. The business had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.63 billion. On average, equities analysts anticipate that Consolidated Edison, Inc. will post 5.62 earnings per share 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. Shareholders of record on Wednesday, February 19th will be paid a $0.85 dividend. The ex-dividend date of this dividend is Wednesday, February 19th. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.83. This represents a $3.40 dividend on an annualized basis and a yield of 3.19%. Consolidated Edison’s dividend payout ratio (DPR) is 64.89%.

Consolidated Edison 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.