Consolidated Edison, Inc. (NYSE:ED) Shares Acquired by Stratos Wealth Partners LTD.

Stratos Wealth Partners LTD. lifted its holdings in shares of Consolidated Edison, Inc. (NYSE:ED) by 1.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,224 shares of the utilities provider’s stock after purchasing an additional 166 shares during the period. Stratos Wealth Partners LTD.’s holdings in Consolidated Edison were worth $912,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. James J. Burns & Company LLC increased its position in Consolidated Edison by 61.6% during the fourth quarter. James J. Burns & Company LLC now owns 9,947 shares of the utilities provider’s stock worth $888,000 after purchasing an additional 3,790 shares during the last quarter. Welch Group LLC increased its position in Consolidated Edison by 0.7% during the 4th quarter. Welch Group LLC now owns 502,903 shares of the utilities provider’s stock worth $44,839,000 after purchasing an additional 3,614 shares in the last quarter. Trust Point Inc. increased its position in Consolidated Edison by 4.9% during the 4th quarter. Trust Point Inc. now owns 2,790 shares of the utilities provider’s stock worth $249,000 after purchasing an additional 131 shares in the last quarter. S.A. Mason LLC raised its holdings in Consolidated Edison by 26.9% in the fourth quarter. S.A. Mason LLC now owns 962 shares of the utilities provider’s stock valued at $86,000 after buying an additional 204 shares during the period. Finally, Chicago Capital LLC lifted its position in Consolidated Edison by 9.2% during the fourth quarter. Chicago Capital LLC now owns 3,803 shares of the utilities provider’s stock valued at $339,000 after buying an additional 320 shares in the last quarter. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on ED shares. Barclays cut their target price on shares of Consolidated Edison from $99.00 to $92.00 and set an “underweight” rating on the stock in a research note on Monday, January 27th. Evercore ISI lowered Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 21st. Mizuho upped their target price on Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Scotiabank upgraded Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and raised their target price for the company from $90.00 to $100.00 in a report on Thursday, December 12th. Finally, Morgan Stanley decreased their price target on Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating for the company in a report on Friday, November 22nd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $100.00.

Consolidated Edison Stock Up 0.6 %

ED stock opened at $96.64 on Tuesday. 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 50 day simple moving average of $91.96 and a 200-day simple moving average of $98.18. The company has a market capitalization of $33.48 billion, a P/E ratio of 18.20, a PEG ratio of 3.04 and a beta of 0.39. Consolidated Edison, Inc. has a twelve month low of $85.85 and a twelve month high of $107.75.

Consolidated Edison Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders 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. This represents a $3.40 annualized dividend and a yield of 3.52%. The ex-dividend date is Wednesday, February 19th. Consolidated Edison’s dividend payout ratio (DPR) is currently 62.52%.

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.