8,722 Shares in Consolidated Edison, Inc. (NYSE:ED) Acquired by Asset Planning Inc

Asset Planning Inc bought a new position in Consolidated Edison, Inc. (NYSE:ED - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 8,722 shares of the utilities provider's stock, valued at approximately $778,000.

Other large investors also recently made changes to their positions in the company. Ritholtz Wealth Management bought a new stake in shares of Consolidated Edison during the third quarter valued at about $211,000. Exchange Traded Concepts LLC raised its position in shares of Consolidated Edison by 36.2% during the 3rd quarter. Exchange Traded Concepts LLC now owns 9,960 shares of the utilities provider's stock worth $1,037,000 after buying an additional 2,646 shares in the last quarter. Creative Planning lifted its stake in shares of Consolidated Edison by 7.9% in the 3rd quarter. Creative Planning now owns 98,928 shares of the utilities provider's stock worth $10,301,000 after acquiring an additional 7,269 shares during the period. McKinley Carter Wealth Services Inc. bought a new position in shares of Consolidated Edison in the third quarter valued at approximately $205,000. Finally, Presima Securities ULC increased its stake in shares of Consolidated Edison by 2.1% during the third quarter. Presima Securities ULC now owns 9,900 shares of the utilities provider's stock valued at $1,031,000 after acquiring an additional 200 shares during the period. Institutional investors and hedge funds own 66.29% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Barclays cut their target price on Consolidated Edison from $99.00 to $92.00 and set an "underweight" rating for the company in a research report on Monday, January 27th. Mizuho upped their price objective on Consolidated Edison from $92.00 to $95.00 and gave the company a "neutral" rating in a report on Monday, February 3rd. Evercore ISI cut Consolidated Edison from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, January 21st. Morgan Stanley dropped their price target on shares of Consolidated Edison from $88.00 to $85.00 and set an "underweight" rating on the stock in a research report on Friday, November 22nd. Finally, Scotiabank upgraded shares of Consolidated Edison from a "sector underperform" rating to a "sector perform" rating and raised their price objective for the company from $90.00 to $100.00 in a research report on Thursday, December 12th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $100.70.

Consolidated Edison Trading Up 0.8 %

Shares of Consolidated Edison stock traded up $0.78 during trading on Tuesday, hitting $95.70. The stock had a trading volume of 2,568,475 shares, compared to its average volume of 2,412,647. Consolidated Edison, Inc. has a 1 year low of $85.85 and a 1 year high of $107.75. The stock has a 50 day simple moving average of $91.84 and a 200 day simple moving average of $98.10. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07. The company has a market capitalization of $33.15 billion, a PE ratio of 18.02, a P/E/G ratio of 3.04 and a beta of 0.39.

Consolidated Edison Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th will be paid a dividend of $0.85 per share. This is an increase from Consolidated Edison's previous quarterly dividend of $0.83. This represents a $3.40 annualized dividend and a yield of 3.55%. The ex-dividend date of this dividend is Wednesday, February 19th. Consolidated Edison's payout ratio is 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.