Flagship Wealth Advisors LLC Makes New Investment in Consolidated Edison, Inc. (NYSE:ED)

Flagship Wealth Advisors LLC purchased a new position in shares of Consolidated Edison, Inc. (NYSE:ED) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 2,200 shares of the utilities provider’s stock, valued at approximately $196,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ED. Signaturefd LLC increased its position in shares of Consolidated Edison by 8.1% during the fourth quarter. Signaturefd LLC now owns 13,128 shares of the utilities provider’s stock worth $1,171,000 after buying an additional 982 shares during the period. Parallel Advisors LLC lifted its position in shares of Consolidated Edison by 25.9% during the fourth quarter. Parallel Advisors LLC now owns 11,328 shares of the utilities provider’s stock valued at $1,011,000 after purchasing an additional 2,332 shares in the last quarter. Cibc World Markets Corp raised its position in Consolidated Edison by 16.4% in the fourth quarter. Cibc World Markets Corp now owns 54,666 shares of the utilities provider’s stock worth $4,878,000 after acquiring an additional 7,711 shares during the period. Creative Financial Designs Inc. ADV raised its position in Consolidated Edison by 2.2% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 8,246 shares of the utilities provider’s stock worth $736,000 after acquiring an additional 175 shares during the period. Finally, SlateStone Wealth LLC increased its stake in shares of Consolidated Edison by 5.7% in the fourth quarter. SlateStone Wealth LLC now owns 17,389 shares of the utilities provider’s stock worth $1,552,000 after purchasing an additional 935 shares in the last quarter. Institutional investors own 66.29% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on ED. Mizuho boosted their price objective on shares of Consolidated Edison from $92.00 to $95.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Barclays boosted their price objective 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. UBS Group upped their price target on shares of Consolidated Edison from $105.00 to $110.00 and gave the company a “neutral” rating in a report on Tuesday, February 25th. Evercore ISI cut shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 21st. Finally, Scotiabank raised their target price on shares of Consolidated Edison from $100.00 to $101.00 and gave the stock 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 assigned a strong buy rating to the company. According to data from MarketBeat.com, Consolidated Edison presently has a consensus rating of “Hold” and a consensus target price of $101.50.

Consolidated Edison Stock Up 1.9 %

NYSE:ED opened at $106.60 on Monday. Consolidated Edison, Inc. has a 1-year low of $87.16 and a 1-year high of $107.97. The company has a 50-day moving average of $95.96 and a 200 day moving average of $98.17. The firm has a market cap of $36.97 billion, a PE ratio of 20.34, a price-to-earnings-growth ratio of 3.05 and a beta of 0.30. 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 (NYSE:ED) last posted its quarterly earnings data on Thursday, February 20th. The utilities provider reported $0.98 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.63 billion. As a group, research analysts anticipate that Consolidated Edison, Inc. will post 5.62 EPS for the current fiscal year.

Consolidated Edison Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th were paid 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 3.19%. 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.