Consolidated Edison, Inc. (NYSE:ED) is Inceptionr LLC's 2nd Largest Position

Inceptionr LLC lifted its stake in shares of Consolidated Edison, Inc. (NYSE:ED - Free Report) by 447.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,788 shares of the utilities provider's stock after buying an additional 21,892 shares during the period. Consolidated Edison makes up approximately 0.5% of Inceptionr LLC's investment portfolio, making the stock its 2nd biggest holding. Inceptionr LLC's holdings in Consolidated Edison were worth $2,390,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Raymond James Financial Inc. acquired a new stake in shares of Consolidated Edison during the fourth quarter worth $24,294,000. Vision Financial Markets LLC acquired a new position in Consolidated Edison during the fourth quarter valued at $440,000. Sound Financial Strategies Group LLC lifted its position in Consolidated Edison by 16.2% during the fourth quarter. Sound Financial Strategies Group LLC now owns 9,102 shares of the utilities provider's stock valued at $812,000 after purchasing an additional 1,268 shares during the period. Proficio Capital Partners LLC acquired a new position in Consolidated Edison during the fourth quarter valued at $10,371,000. Finally, Cbre Investment Management Listed Real Assets LLC acquired a new position in Consolidated Edison during the fourth quarter valued at $37,147,000. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on ED shares. Morgan Stanley decreased 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 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 report on Monday, February 24th. UBS Group boosted their target price on shares of Consolidated Edison from $105.00 to $110.00 and gave the company a "neutral" rating in a research report on Tuesday, February 25th. Evercore ISI cut shares of Consolidated Edison from a "strong-buy" rating to a "hold" rating in a report on Tuesday, January 21st. 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 research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and one has assigned 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 $101.50.

Remove Ads

Consolidated Edison Price Performance

Shares of ED stock traded up $2.82 on Friday, reaching $103.73. 2,865,756 shares of the company were exchanged, compared to its average volume of 2,740,435. The company has a market cap of $35.97 billion, a price-to-earnings ratio of 19.80, a P/E/G ratio of 3.05 and a beta of 0.30. The business has a 50-day moving average price of $94.39 and a 200 day moving average price of $98.03. 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, Inc. has a 1 year low of $87.16 and a 1 year high of $107.75.

Consolidated Edison (NYSE:ED - Get Free Report) last released its earnings results 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 business had revenue of $3.67 billion during the quarter, compared to analysts' expectations of $3.63 billion. Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. Equities research analysts forecast that Consolidated Edison, Inc. will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Wednesday, February 19th will be paid a dividend of $0.85 per share. 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 3.28%. This is a boost from Consolidated Edison's previous quarterly dividend of $0.83. Consolidated Edison's payout ratio is currently 64.89%.

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.