Campbell Wealth Management Invests $310,000 in Consolidated Edison, Inc. (NYSE:ED)

Campbell Wealth Management bought a new stake in Consolidated Edison, Inc. (NYSE:ED - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 3,479 shares of the utilities provider's stock, valued at approximately $310,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Point72 Asset Management L.P. lifted its position in shares of Consolidated Edison by 1,766.0% during the 3rd quarter. Point72 Asset Management L.P. now owns 988,961 shares of the utilities provider's stock worth $102,980,000 after buying an additional 935,962 shares during the last quarter. FMR LLC raised its stake in Consolidated Edison by 82.3% during the third quarter. FMR LLC now owns 1,268,424 shares of the utilities provider's stock worth $132,081,000 after acquiring an additional 572,530 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Consolidated Edison by 10,262.1% in the third quarter. International Assets Investment Management LLC now owns 553,546 shares of the utilities provider's stock worth $57,641,000 after acquiring an additional 548,204 shares during the last quarter. National Bank of Canada FI boosted its stake in shares of Consolidated Edison by 350.6% in the 3rd quarter. National Bank of Canada FI now owns 620,705 shares of the utilities provider's stock valued at $64,634,000 after purchasing an additional 482,953 shares in the last quarter. Finally, State Street Corp grew its holdings in shares of Consolidated Edison by 1.7% during the 3rd quarter. State Street Corp now owns 23,429,218 shares of the utilities provider's stock valued at $2,439,684,000 after purchasing an additional 399,034 shares during the last quarter. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Consolidated Edison Trading Up 0.8 %

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

Consolidated Edison Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Wednesday, February 19th will be given a $0.85 dividend. The ex-dividend date of this dividend is Wednesday, February 19th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.55%. This is an increase from Consolidated Edison's previous quarterly dividend of $0.83. Consolidated Edison's payout ratio is 62.52%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ED. Scotiabank raised shares of Consolidated Edison from a "sector underperform" rating to a "sector perform" rating and increased their price objective for the company from $90.00 to $100.00 in a research note on Thursday, December 12th. Evercore ISI downgraded Consolidated Edison from a "strong-buy" rating to a "hold" rating in a 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 report on Monday, February 3rd. Morgan Stanley cut their price target on Consolidated Edison from $88.00 to $85.00 and set an "underweight" rating on the stock in a research note on Friday, November 22nd. Finally, Barclays lowered their price objective on Consolidated Edison from $99.00 to $92.00 and set an "underweight" rating for the company in a research note on Monday, January 27th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $100.70.

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.