Consolidated Edison, Inc. (NYSE:ED) Shares Bought by Trust Point Inc.

Trust Point Inc. lifted its holdings in Consolidated Edison, Inc. (NYSE:ED) by 4.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 2,790 shares of the utilities provider’s stock after acquiring an additional 131 shares during the quarter. Trust Point Inc.’s holdings in Consolidated Edison were worth $249,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in ED. Capital Performance Advisors LLP acquired a new position in shares of Consolidated Edison in the 3rd quarter valued at $27,000. AlphaMark Advisors LLC purchased a new stake in Consolidated Edison during the fourth quarter valued at about $27,000. Ashton Thomas Securities LLC acquired a new position in shares of Consolidated Edison in the third quarter worth about $30,000. CGC Financial Services LLC increased its position in shares of Consolidated Edison by 64.0% in the fourth 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. Finally, Future Financial Wealth Managment LLC acquired a new stake in shares of Consolidated Edison during the third quarter valued at approximately $55,000. 66.29% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Mizuho lifted their price objective on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a research report on Monday. Scotiabank upgraded Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and lifted their price target for the company from $90.00 to $100.00 in a report on Thursday, December 12th. Citigroup raised Consolidated Edison from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $103.00 to $116.00 in a research note on Tuesday, October 15th. Barclays lowered their target price on Consolidated Edison from $99.00 to $92.00 and set an “underweight” rating on the stock in a research note on Monday, January 27th. Finally, Evercore ISI lowered shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 21st. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Consolidated Edison currently has a consensus rating of “Hold” and a consensus target price of $100.00.

Consolidated Edison Stock Performance

Shares of ED opened at $95.35 on Friday. The firm has a market cap of $33.03 billion, a price-to-earnings ratio of 17.96, a price-to-earnings-growth ratio of 2.99 and a beta of 0.39. The company’s fifty day moving average is $92.17 and its 200-day moving average is $98.14. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07. Consolidated Edison, Inc. has a 12 month low of $85.85 and a 12 month high of $107.75.

Consolidated Edison (NYSE:ED) last posted its earnings results on Thursday, November 7th. The utilities provider reported $1.68 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $4.02 billion. Equities analysts expect that Consolidated Edison, Inc. will post 5.35 EPS for the current fiscal 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 a positive change from Consolidated Edison’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend is Wednesday, February 19th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.57%. Consolidated Edison’s dividend payout ratio is currently 62.52%.

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.