StoneX Group Inc. Purchases New Shares in Consolidated Edison, Inc. (NYSE:ED)

StoneX Group Inc. acquired a new position in Consolidated Edison, Inc. (NYSE:ED) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 10,765 shares of the utilities provider’s stock, valued at approximately $961,000.

Other large investors have also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB bought a new stake in Consolidated Edison in the third quarter worth $776,000. JPMorgan Chase & Co. lifted its holdings in shares of 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 acquiring an additional 82,985 shares during the last quarter. Hennessy Advisors Inc. boosted its stake in shares of Consolidated Edison by 2.8% during the 4th quarter. Hennessy Advisors Inc. now owns 143,136 shares of the utilities provider’s stock worth $12,772,000 after purchasing an additional 3,900 shares during the period. Gateway Investment Advisers LLC grew its holdings in Consolidated Edison by 102.7% during the 4th quarter. Gateway Investment Advisers LLC now owns 430,279 shares of the utilities provider’s stock valued at $38,394,000 after purchasing an additional 217,981 shares during the last quarter. Finally, Jones Financial Companies Lllp raised its position in Consolidated Edison by 81.4% in the 4th quarter. Jones Financial Companies Lllp now owns 9,921 shares of the utilities provider’s stock worth $885,000 after purchasing an additional 4,451 shares during the period. 66.29% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. UBS Group boosted their target price on Consolidated Edison from $110.00 to $113.00 and gave the company a “neutral” rating in a research report on Friday, March 21st. Evercore ISI downgraded Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 21st. Mizuho increased their target price on Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Barclays boosted 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. Finally, Scotiabank lifted their price objective on shares of Consolidated Edison from $100.00 to $101.00 and gave the company a “sector perform” rating in a report on Monday, February 24th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Consolidated Edison presently has a consensus rating of “Hold” and an average price target of $102.40.

Consolidated Edison Trading Down 0.5 %

NYSE:ED opened at $110.07 on Wednesday. The firm has a 50-day simple moving average of $100.24 and a 200-day simple moving average of $98.56. Consolidated Edison, Inc. has a one year low of $87.28 and a one year high of $111.11. The firm has a market cap of $38.17 billion, a P/E ratio of 21.01, a P/E/G ratio of 3.05 and a beta of 0.30. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings data on Thursday, February 20th. The utilities provider reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.01. The company had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.63 billion. Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. Equities analysts anticipate that Consolidated Edison, Inc. will post 5.62 EPS for the current fiscal year.

Consolidated Edison Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Wednesday, February 19th were given a dividend of $0.85 per share. The ex-dividend date of this dividend was Wednesday, February 19th. This represents a $3.40 dividend on an annualized basis and a yield of 3.09%. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.83. Consolidated Edison’s dividend payout ratio (DPR) is presently 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.