Raymond James Financial Inc. Invests $24.29 Million in Consolidated Edison, Inc. (NYSE:ED)

Raymond James Financial Inc. bought a new position in Consolidated Edison, Inc. (NYSE:ED - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 272,261 shares of the utilities provider's stock, valued at approximately $24,294,000. Raymond James Financial Inc. owned 0.08% of Consolidated Edison as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Jacobi Capital Management LLC increased its holdings in Consolidated Edison by 4.2% in the 4th quarter. Jacobi Capital Management LLC now owns 2,569 shares of the utilities provider's stock valued at $229,000 after buying an additional 104 shares during the period. Richwood Investment Advisors LLC boosted its holdings in Consolidated Edison by 2.3% during the fourth quarter. Richwood Investment Advisors LLC now owns 5,194 shares of the utilities provider's stock valued at $463,000 after purchasing an additional 115 shares in the last quarter. Penobscot Investment Management Company Inc. grew its stake in shares of Consolidated Edison by 5.7% in the 4th quarter. Penobscot Investment Management Company Inc. now owns 2,300 shares of the utilities provider's stock valued at $205,000 after purchasing an additional 125 shares during the period. Trust Point Inc. raised its holdings in shares of Consolidated Edison by 4.9% in the 4th quarter. Trust Point Inc. now owns 2,790 shares of the utilities provider's stock worth $249,000 after buying an additional 131 shares in the last quarter. Finally, Haverford Trust Co lifted its position in shares of Consolidated Edison by 3.7% during the 4th quarter. Haverford Trust Co now owns 3,709 shares of the utilities provider's stock worth $331,000 after buying an additional 132 shares during the period. Institutional investors and hedge funds own 66.29% of the company's stock.

Consolidated Edison Trading Down 0.6 %

NYSE ED traded down $0.70 during trading hours on Thursday, hitting $111.82. The company's stock had a trading volume of 512,331 shares, compared to its average volume of 2,191,394. The stock has a fifty day moving average of $105.80 and a 200 day moving average of $99.41. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07. Consolidated Edison, Inc. has a twelve month low of $87.28 and a twelve month high of $114.87. The firm has a market capitalization of $40.28 billion, a P/E ratio of 21.31, a PEG ratio of 3.05 and a beta of 0.27.

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

Consolidated Edison Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Wednesday, May 14th will be given a $0.85 dividend. The ex-dividend date is Wednesday, May 14th. This represents a $3.40 annualized dividend and a dividend yield of 3.04%. Consolidated Edison's dividend payout ratio is presently 64.89%.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Morgan Stanley increased their price objective on Consolidated Edison from $85.00 to $91.00 and gave the stock an "underweight" rating in a research note on Thursday, March 20th. Mizuho lifted their price target on shares of Consolidated Edison from $92.00 to $95.00 and gave the company a "neutral" rating in a report on Monday, February 3rd. Evercore ISI lowered shares of Consolidated Edison from a "strong-buy" rating to a "hold" rating in a report on Tuesday, January 21st. UBS Group boosted their target price on Consolidated Edison from $110.00 to $113.00 and gave the stock a "neutral" rating in a report on Friday, March 21st. Finally, Barclays increased their target price on Consolidated Edison from $95.00 to $100.00 and gave the stock an "underweight" rating in a report on Tuesday. 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. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $103.30.

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.