Certior Financial Group LLC Invests $436,000 in Consolidated Edison, Inc. (NYSE:ED)

Certior Financial Group LLC acquired a new stake in shares of Consolidated Edison, Inc. (NYSE:ED - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 4,890 shares of the utilities provider's stock, valued at approximately $436,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. AlphaMark Advisors LLC purchased a new stake in Consolidated Edison during the fourth quarter valued at about $27,000. OFI Invest Asset Management purchased a new stake in shares of Consolidated Edison during the 4th quarter worth about $35,000. Fairway Wealth LLC acquired a new stake in Consolidated Edison in the fourth quarter valued at approximately $36,000. Centricity Wealth Management LLC bought a new stake in Consolidated Edison in the fourth quarter worth $39,000. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of Consolidated Edison during the 4th quarter worth about $44,000. Institutional investors own 66.29% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on ED shares. Scotiabank raised 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. Morgan Stanley upped their target price on Consolidated Edison from $85.00 to $91.00 and gave the company an "underweight" rating in a research note on Thursday, March 20th. Barclays lifted their price objective on Consolidated Edison from $92.00 to $95.00 and gave the company an "underweight" rating in a report on Monday, February 24th. UBS Group increased their target price on shares of Consolidated Edison from $110.00 to $113.00 and gave the stock a "neutral" rating in a research report on Friday, March 21st. Finally, Citigroup lifted their price objective on Consolidated Edison from $116.00 to $120.00 and gave the company a "buy" rating in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Consolidated Edison currently has a consensus rating of "Hold" and a consensus price target of $102.80.

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Consolidated Edison Trading Up 1.4 %

Shares of Consolidated Edison stock traded up $1.52 on Friday, hitting $109.82. 2,617,191 shares of the company's stock traded hands, compared to its average volume of 2,223,533. The stock has a market capitalization of $39.56 billion, a PE ratio of 20.96, a price-to-earnings-growth ratio of 3.05 and a beta of 0.27. Consolidated Edison, Inc. has a one year low of $87.28 and a one year high of $114.87. The firm's 50-day moving average price is $103.19 and its two-hundred day moving average price is $98.94. 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 (NYSE:ED - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The utilities provider reported $0.98 EPS for the quarter, topping the consensus estimate of $0.97 by $0.01. Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. The business had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.63 billion. On average, research analysts expect that Consolidated Edison, Inc. will post 5.62 EPS for the current fiscal year.

Consolidated Edison Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th were issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date was Wednesday, February 19th. This is a boost from Consolidated Edison's previous quarterly dividend of $0.83. Consolidated Edison's dividend payout ratio is 64.89%.

Consolidated Edison Company 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.