Ameritas Advisory Services LLC Purchases Shares of 2,803 Consolidated Edison, Inc. (NYSE:ED)

Ameritas Advisory Services LLC purchased a new stake in shares of Consolidated Edison, Inc. (NYSE:ED) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 2,803 shares of the utilities provider’s stock, valued at approximately $250,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. State Street Corp lifted its stake in Consolidated Edison by 1.7% during the third quarter. State Street Corp now owns 23,429,218 shares of the utilities provider’s stock worth $2,439,684,000 after purchasing an additional 399,034 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Consolidated Edison by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 8,853,788 shares of the utilities provider’s stock valued at $919,041,000 after buying an additional 107,281 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Consolidated Edison by 1.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,148,666 shares of the utilities provider’s stock valued at $223,741,000 after buying an additional 28,254 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Consolidated Edison by 4.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,145,128 shares of the utilities provider’s stock worth $223,373,000 after buying an additional 82,985 shares during the last quarter. Finally, FMR LLC boosted its stake in Consolidated Edison by 82.3% in the third quarter. FMR LLC now owns 1,268,424 shares of the utilities provider’s stock worth $132,081,000 after buying an additional 572,530 shares in the last quarter. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Morgan Stanley lowered their price objective on shares of Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating for the company in a report on Friday, November 22nd. Scotiabank raised shares of Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and boosted their price target for the stock from $90.00 to $100.00 in a research note on Thursday, December 12th. Citigroup raised Consolidated Edison from a “neutral” rating to a “buy” rating and raised their price objective for the company from $103.00 to $116.00 in a research note on Tuesday, October 15th. Barclays lowered their target price on Consolidated Edison from $104.00 to $99.00 and set an “underweight” rating for the company in a research note on Friday, November 8th. Finally, Jefferies Financial Group started coverage on Consolidated Edison in a research report on Wednesday, October 9th. They set a “hold” rating and a $108.00 price target on the stock. Two analysts have rated the stock with a sell rating, eight have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $100.64.

Consolidated Edison Stock Down 0.1 %

Shares of NYSE ED opened at $90.66 on Friday. The firm has a fifty day simple moving average of $92.99 and a two-hundred day simple moving average of $97.93. Consolidated Edison, Inc. has a 12 month low of $85.85 and a 12 month high of $107.75. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.07. The firm has a market capitalization of $31.41 billion, a PE ratio of 17.07, a price-to-earnings-growth ratio of 2.89 and a beta of 0.38.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings data 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 business had revenue of $4.09 billion during the quarter, compared to analyst estimates of $4.02 billion. Equities analysts expect that Consolidated Edison, Inc. will post 5.35 earnings per share for the current year.

Consolidated Edison Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Wednesday, February 19th will be given a dividend of $0.85 per share. 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 3.75%. The ex-dividend date is Wednesday, February 19th. Consolidated Edison’s dividend payout ratio (DPR) is 64.03%.

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.