Proficio Capital Partners LLC Takes $10.37 Million Position in Consolidated Edison, Inc. (NYSE:ED)

Proficio Capital Partners LLC purchased a new stake in shares of Consolidated Edison, Inc. (NYSE:ED - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 116,223 shares of the utilities provider's stock, valued at approximately $10,371,000.

Other institutional investors have also recently made changes to their positions in the company. TD Private Client Wealth LLC increased its position in shares of Consolidated Edison by 4.7% during the third quarter. TD Private Client Wealth LLC now owns 2,334 shares of the utilities provider's stock valued at $243,000 after acquiring an additional 104 shares during the last quarter. D.A. Davidson & CO. increased its holdings in Consolidated Edison by 1.1% in the 3rd quarter. D.A. Davidson & CO. now owns 11,142 shares of the utilities provider's stock valued at $1,160,000 after purchasing an additional 124 shares during the last quarter. Townsquare Capital LLC raised its position in Consolidated Edison by 2.4% in the third quarter. Townsquare Capital LLC now owns 5,574 shares of the utilities provider's stock valued at $580,000 after purchasing an additional 130 shares during the period. Trust Point Inc. lifted its stake in Consolidated Edison by 4.9% during the fourth quarter. Trust Point Inc. now owns 2,790 shares of the utilities provider's stock worth $249,000 after purchasing an additional 131 shares in the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund boosted its position in shares of Consolidated Edison by 1.3% during the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 10,372 shares of the utilities provider's stock worth $925,000 after buying an additional 133 shares during the period. Hedge funds and other institutional investors own 66.29% of the company's stock.

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Consolidated Edison Stock Performance

Consolidated Edison stock traded up $0.51 during mid-day trading on Thursday, reaching $100.71. The company's stock had a trading volume of 1,719,691 shares, compared to its average volume of 2,671,505. The firm has a market cap of $34.92 billion, a price-to-earnings ratio of 19.22, a PEG ratio of 3.05 and a beta of 0.39. Consolidated Edison, Inc. has a twelve month low of $87.16 and a twelve month high of $107.75. The business has a 50 day moving average price of $93.89 and a 200-day moving average price of $98.00. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.07.

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 analysts' consensus estimates of $0.97 by $0.01. The firm had revenue of $3.67 billion during 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%. Sell-side analysts predict 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 will be paid on Friday, March 14th. Investors of record on Wednesday, February 19th will be issued a dividend of $0.85 per share. This is a boost from Consolidated Edison's previous quarterly dividend of $0.83. The ex-dividend date is Wednesday, February 19th. This represents a $3.40 annualized dividend and a yield of 3.38%. Consolidated Edison's payout ratio is presently 64.89%.

Analysts Set New Price Targets

Several research firms recently issued reports on ED. Mizuho increased their target price on Consolidated Edison from $92.00 to $95.00 and gave the stock a "neutral" rating in a research note on Monday, February 3rd. Evercore ISI cut shares of Consolidated Edison from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, January 21st. Morgan Stanley dropped their price objective on shares of Consolidated Edison from $88.00 to $85.00 and set an "underweight" rating for the company in a report on Friday, November 22nd. UBS Group increased their target price on shares of Consolidated Edison from $105.00 to $110.00 and gave the stock a "neutral" rating in a report on Tuesday, February 25th. Finally, Barclays boosted their price target on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock an "underweight" rating in a research note on Monday, February 24th. 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 data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $101.50.

About Consolidated Edison

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.