2,284 Shares in Consolidated Edison, Inc. (NYSE:ED) Acquired by Argentarii LLC

Argentarii LLC purchased a new position in shares of Consolidated Edison, Inc. (NYSE:ED) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,284 shares of the utilities provider’s stock, valued at approximately $204,000.

Several other institutional investors have also made changes to their positions in the stock. TD Private Client Wealth LLC boosted its holdings in shares of Consolidated Edison by 4.7% during the third quarter. TD Private Client Wealth LLC now owns 2,334 shares of the utilities provider’s stock worth $243,000 after purchasing an additional 104 shares during the period. Jacobi Capital Management LLC boosted its holdings in shares of Consolidated Edison by 4.2% during the fourth quarter. Jacobi Capital Management LLC now owns 2,569 shares of the utilities provider’s stock worth $229,000 after purchasing an additional 104 shares during the period. D.A. Davidson & CO. lifted its stake in Consolidated Edison by 1.1% in the third quarter. D.A. Davidson & CO. now owns 11,142 shares of the utilities provider’s stock valued at $1,160,000 after acquiring an additional 124 shares during the last quarter. Townsquare Capital LLC lifted its stake in Consolidated Edison by 2.4% in the third quarter. Townsquare Capital LLC now owns 5,574 shares of the utilities provider’s stock valued at $580,000 after acquiring an additional 130 shares during the last quarter. Finally, Trust Point Inc. lifted its stake in Consolidated Edison by 4.9% in the fourth quarter. Trust Point Inc. now owns 2,790 shares of the utilities provider’s stock valued at $249,000 after acquiring an additional 131 shares during the last quarter. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ED has been the subject of a number of analyst reports. Scotiabank lifted 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 note on Monday, February 24th. Barclays lifted their target price on shares of Consolidated Edison from $92.00 to $95.00 and gave the company an “underweight” rating in a research note on Monday, February 24th. Mizuho lifted their target price 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. Evercore ISI cut shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 21st. Finally, Morgan Stanley reduced their target price on shares of Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating for the company in a research note on Friday, November 22nd. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $101.50.

Consolidated Edison Price Performance

Shares of Consolidated Edison stock opened at $103.73 on Monday. Consolidated Edison, Inc. has a 1-year low of $87.16 and a 1-year high of $107.75. The firm has a fifty day simple moving average of $94.39 and a 200-day simple moving average of $98.01. The stock has a market capitalization of $35.97 billion, a price-to-earnings ratio of 19.80, a PEG ratio of 3.05 and a beta of 0.30. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.07.

Consolidated Edison (NYSE:ED) last announced its earnings results on Thursday, February 20th. The utilities provider reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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, sell-side analysts expect that Consolidated Edison, Inc. will post 5.62 earnings per share for the current year.

Consolidated Edison Increases Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Wednesday, February 19th. This represents a $3.40 dividend on an annualized basis and a yield of 3.28%. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.83. Consolidated Edison’s payout ratio is 64.89%.

About Consolidated Edison

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.