Parallel Advisors LLC Grows Stock Holdings in Consolidated Edison, Inc. (NYSE:ED)

Parallel Advisors LLC increased its holdings in shares of Consolidated Edison, Inc. (NYSE:ED - Free Report) by 25.9% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 11,328 shares of the utilities provider's stock after purchasing an additional 2,332 shares during the period. Parallel Advisors LLC's holdings in Consolidated Edison were worth $1,011,000 as of its most recent filing with the SEC.

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

Analyst Ratings Changes

A number of research analysts recently commented on ED shares. UBS Group increased their target price on Consolidated Edison from $110.00 to $113.00 and gave the company a "neutral" rating in a research note on Friday. Mizuho increased their price objective on Consolidated Edison from $92.00 to $95.00 and gave the stock a "neutral" rating in a report on Monday, February 3rd. Scotiabank increased their target price on Consolidated Edison from $100.00 to $101.00 and gave the stock a "sector perform" rating in a research report on Monday, February 24th. Evercore ISI cut shares of Consolidated Edison from a "strong-buy" rating to a "hold" rating in a report on Tuesday, January 21st. Finally, Barclays increased their price target on shares of Consolidated Edison from $92.00 to $95.00 and gave the company an "underweight" rating in a report on Monday, February 24th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Consolidated Edison has an average rating of "Hold" and a consensus target price of $102.40.

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Consolidated Edison Trading Down 0.9 %

Shares of ED traded down $0.93 during midday trading on Monday, hitting $106.87. The stock had a trading volume of 1,897,849 shares, compared to its average volume of 2,004,503. The firm has a market cap of $37.06 billion, a PE ratio of 20.40, a price-to-earnings-growth ratio of 3.05 and a beta of 0.30. Consolidated Edison, Inc. has a 1 year low of $87.16 and a 1 year high of $109.36. The stock's 50 day moving average is $97.91 and its 200 day moving average is $98.36. 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 released its earnings results on Thursday, February 20th. The utilities provider reported $0.98 earnings per share for the quarter, topping analysts' consensus estimates of $0.97 by $0.01. The business had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.63 billion. Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. As a group, analysts forecast that Consolidated Edison, Inc. will post 5.62 EPS for the current fiscal year.

Consolidated Edison Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Wednesday, February 19th were paid a dividend of $0.85 per share. The ex-dividend date of this dividend was Wednesday, February 19th. This represents a $3.40 annualized dividend and a dividend yield of 3.18%. This is a positive change from Consolidated Edison's previous quarterly dividend of $0.83. Consolidated Edison's dividend payout ratio (DPR) is currently 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.