Park Avenue Securities LLC Raises Stock Holdings in Consolidated Edison, Inc. (NYSE:ED)

Park Avenue Securities LLC increased its position in Consolidated Edison, Inc. (NYSE:ED - Free Report) by 27.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,103 shares of the utilities provider's stock after acquiring an additional 4,977 shares during the quarter. Park Avenue Securities LLC's holdings in Consolidated Edison were worth $2,061,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new stake in Consolidated Edison during the 3rd quarter valued at approximately $27,000. Ashton Thomas Securities LLC purchased a new stake in Consolidated Edison during the 3rd quarter valued at approximately $30,000. Future Financial Wealth Managment LLC bought a new stake in shares of Consolidated Edison during the third quarter valued at approximately $55,000. FSA Wealth Management LLC purchased a new position in shares of Consolidated Edison in the third quarter worth $55,000. Finally, Webster Bank N. A. boosted its position in shares of Consolidated Edison by 189.5% during the third quarter. Webster Bank N. A. now owns 579 shares of the utilities provider's stock worth $60,000 after acquiring an additional 379 shares during the last quarter. Institutional investors own 66.29% of the company's stock.

Consolidated Edison Stock Up 1.6 %

Consolidated Edison stock traded up $1.52 during midday trading on Friday, hitting $93.74. 3,516,795 shares of the company's stock were exchanged, compared to its average volume of 1,807,728. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01. The company has a market cap of $32.47 billion, a PE ratio of 17.65, a P/E/G ratio of 2.81 and a beta of 0.38. The firm has a 50-day moving average of $93.35 and a two-hundred day moving average of $97.91. Consolidated Edison, Inc. has a 12 month low of $85.85 and a 12 month high of $107.75.

Consolidated Edison (NYSE:ED - Get Free Report) last announced its earnings results on Thursday, November 7th. The utilities provider reported $1.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.56 by $0.12. The business had revenue of $4.09 billion for the quarter, compared to analysts' expectations of $4.02 billion. Consolidated Edison had a return on equity of 8.70% and a net margin of 12.27%. As a group, analysts expect that Consolidated Edison, Inc. will post 5.35 earnings per share for the current fiscal year.

Consolidated Edison Increases Dividend

The firm also recently disclosed 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. This is a boost from Consolidated Edison's previous quarterly dividend of $0.83. 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 3.63%. Consolidated Edison's dividend payout ratio (DPR) is presently 62.52%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Morgan Stanley dropped their price target on Consolidated Edison from $88.00 to $85.00 and set an "underweight" rating for the company in a research note on Friday, November 22nd. Scotiabank upgraded Consolidated Edison from a "sector underperform" rating to a "sector perform" rating and increased their target price for the company from $90.00 to $100.00 in a research report on Thursday, December 12th. Jefferies Financial Group began coverage on shares of Consolidated Edison in a research report on Wednesday, October 9th. They issued a "hold" rating and a $108.00 price target on the stock. Citigroup raised shares of Consolidated Edison from a "neutral" rating to a "buy" rating and upped their price target for the company from $103.00 to $116.00 in a research note on Tuesday, October 15th. Finally, Barclays dropped their price objective on shares of Consolidated Edison from $104.00 to $99.00 and set an "underweight" rating for the company in a research note on Friday, November 8th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $100.64.

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.