Heritage Trust Co Makes New Investment in Consolidated Edison, Inc. (NYSE:ED)

Heritage Trust Co acquired a new position in Consolidated Edison, Inc. (NYSE:ED - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 5,390 shares of the utilities provider's stock, valued at approximately $481,000.

Other large investors have also recently made changes to their positions in the company. AlphaMark Advisors LLC purchased a new stake in Consolidated Edison in the fourth quarter worth $27,000. Fairway Wealth LLC purchased a new stake in Consolidated Edison in the fourth quarter worth about $36,000. OFI Invest Asset Management purchased a new position in shares of Consolidated Edison in the 4th quarter valued at approximately $35,000. Centricity Wealth Management LLC bought a new stake in Consolidated Edison during the fourth quarter worth about $39,000. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of Consolidated Edison in the 4th quarter worth approximately $44,000. 66.29% of the stock is currently owned by institutional investors.

Consolidated Edison Price Performance

Shares of Consolidated Edison stock traded down $0.17 during trading hours on Wednesday, reaching $111.64. The company's stock had a trading volume of 2,086,233 shares, compared to its average volume of 2,856,361. The firm has a 50 day moving average price of $103.83 and a 200-day moving average price of $99.05. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93. The stock has a market cap of $40.21 billion, a P/E ratio of 21.31, a P/E/G 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.

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Consolidated Edison (NYSE:ED - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The utilities provider reported $0.98 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.97 by $0.01. The business had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.63 billion. Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. On average, analysts predict that Consolidated Edison, Inc. will post 5.62 EPS for the current year.

Consolidated Edison Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Wednesday, February 19th were paid a $0.85 dividend. The ex-dividend date of this dividend was Wednesday, February 19th. This represents a $3.40 annualized dividend and a dividend yield of 3.05%. This is an increase from Consolidated Edison's previous quarterly dividend of $0.83. Consolidated Edison's dividend payout ratio is currently 64.89%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Mizuho boosted their price target on Consolidated Edison from $92.00 to $95.00 and gave the stock a "neutral" rating in a research note on Monday, February 3rd. Scotiabank raised their target price on shares of Consolidated Edison from $100.00 to $101.00 and gave the stock a "sector perform" rating in a research note on Monday, February 24th. UBS Group raised their price target on Consolidated Edison from $110.00 to $113.00 and gave the company a "neutral" rating in a report on Friday, March 21st. Morgan Stanley increased their target price on Consolidated Edison from $85.00 to $91.00 and gave the stock an "underweight" rating in a research report on Thursday, March 20th. Finally, Citigroup boosted their price target on Consolidated Edison from $116.00 to $120.00 and gave the stock a "buy" rating in a report on Wednesday, April 9th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Consolidated Edison currently has an average rating of "Hold" and a consensus price target of $102.80.

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.