5,000 Shares in Consolidated Edison, Inc. (NYSE:ED) Purchased by Smith Group Asset Management LLC

Smith Group Asset Management LLC bought a new stake in shares of Consolidated Edison, Inc. (NYSE:ED - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 5,000 shares of the utilities provider's stock, valued at approximately $446,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Robeco Institutional Asset Management B.V. boosted its position in Consolidated Edison by 11.2% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 667,647 shares of the utilities provider's stock valued at $59,574,000 after buying an additional 67,215 shares during the period. R Squared Ltd purchased a new stake in Consolidated Edison during the 4th quarter valued at $964,000. Orca Wealth Management LLC purchased a new stake in Consolidated Edison during the 4th quarter valued at $681,000. Perigon Wealth Management LLC boosted its position in Consolidated Edison by 10.4% during the 4th quarter. Perigon Wealth Management LLC now owns 5,883 shares of the utilities provider's stock valued at $543,000 after buying an additional 553 shares during the period. Finally, Revolve Wealth Partners LLC boosted its position in Consolidated Edison by 13.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 3,721 shares of the utilities provider's stock valued at $332,000 after buying an additional 441 shares during the period. Institutional investors own 66.29% of the company's stock.

Consolidated Edison Stock Up 0.8 %

NYSE:ED traded up $0.71 on Thursday, reaching $93.28. 331,230 shares of the stock traded hands, compared to its average volume of 2,183,236. The company has a market capitalization of $32.31 billion, a price-to-earnings ratio of 17.57, a PEG ratio of 2.89 and a beta of 0.38. 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, Inc. has a 12 month low of $85.85 and a 12 month high of $107.75. The company's fifty day simple moving average is $92.67 and its 200 day simple moving average is $98.06.

Consolidated Edison (NYSE:ED - Get Free Report) last released its quarterly earnings data on Thursday, November 7th. The utilities provider reported $1.68 earnings per share for the quarter, beating analysts' consensus estimates of $1.56 by $0.12. The business had revenue of $4.09 billion during the quarter, compared to analyst estimates of $4.02 billion. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.70%. Equities analysts predict that Consolidated Edison, Inc. will post 5.35 EPS for the current fiscal year.

Consolidated Edison Increases Dividend

The company also recently declared 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. The ex-dividend date is Wednesday, February 19th. This represents a $3.40 annualized dividend and a yield of 3.65%. This is an increase from Consolidated Edison's previous quarterly dividend of $0.83. Consolidated Edison's payout ratio is currently 62.52%.

Analyst Ratings Changes

ED has been the subject of several research analyst reports. Morgan Stanley dropped 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 report on Friday, November 22nd. Barclays dropped their target price on shares of Consolidated Edison from $99.00 to $92.00 and set an "underweight" rating for the company in a research report on Monday. Scotiabank raised shares of Consolidated Edison from a "sector underperform" rating to a "sector perform" rating and raised their target price for the stock from $90.00 to $100.00 in a research report on Thursday, December 12th. Citigroup raised shares of Consolidated Edison from a "neutral" rating to a "buy" rating and raised their target price for the stock from $103.00 to $116.00 in a research report on Tuesday, October 15th. Finally, Jefferies Financial Group started coverage on shares of Consolidated Edison in a research report on Wednesday, October 9th. They issued a "hold" rating and a $108.00 target price for the company. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Consolidated Edison presently has a consensus rating of "Hold" and an average price target of $100.00.

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.