Sheaff Brock Investment Advisors LLC Purchases New Holdings in Consolidated Edison, Inc. (NYSE:ED)

Sheaff Brock Investment Advisors LLC purchased a new position in Consolidated Edison, Inc. (NYSE:ED - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 4,222 shares of the utilities provider's stock, valued at approximately $377,000.

A number of other hedge funds have also modified their holdings of ED. Capital Performance Advisors LLP acquired a new position in shares of Consolidated Edison in the third quarter worth $27,000. AlphaMark Advisors LLC acquired a new position in Consolidated Edison during the fourth quarter worth $27,000. Ashton Thomas Securities LLC acquired a new position in Consolidated Edison during the third quarter worth $30,000. CGC Financial Services LLC increased its position in Consolidated Edison by 64.0% during the fourth quarter. CGC Financial Services LLC now owns 546 shares of the utilities provider's stock worth $49,000 after buying an additional 213 shares during the last quarter. Finally, FSA Wealth Management LLC acquired a new position in Consolidated Edison during the third quarter worth $55,000. 66.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have commented on ED. Barclays lowered their target price on shares of Consolidated Edison from $99.00 to $92.00 and set an "underweight" rating on the stock in a research report on Monday, January 27th. Scotiabank raised shares of Consolidated Edison from a "sector underperform" rating to a "sector perform" rating and increased their target price for the stock from $90.00 to $100.00 in a research report on Thursday, December 12th. Evercore ISI downgraded Consolidated Edison from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, January 21st. Mizuho raised their price target on Consolidated Edison from $92.00 to $95.00 and gave the company a "neutral" rating in a research report on Monday, February 3rd. Finally, Morgan Stanley lowered their price target on Consolidated Edison from $88.00 to $85.00 and set an "underweight" rating on the stock in a research report on Friday, November 22nd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $100.70.

Consolidated Edison Stock Performance

Shares of NYSE ED traded up $0.51 during mid-day trading on Thursday, hitting $95.77. The company had a trading volume of 2,579,681 shares, compared to its average volume of 2,400,884. 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 business's 50-day simple moving average is $91.91 and its 200-day simple moving average is $98.03. Consolidated Edison, Inc. has a 12 month low of $85.85 and a 12 month high of $107.75. The firm has a market cap of $33.18 billion, a P/E ratio of 18.04, a PEG ratio of 3.05 and a beta of 0.39.

Consolidated Edison (NYSE:ED - Get Free Report) last announced its quarterly earnings results 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 net margin of 12.27% and a return on equity of 8.70%. As a group, analysts predict that Consolidated Edison, Inc. will post 5.35 earnings per share for the current fiscal year.

Consolidated Edison Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th will be paid 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 of this dividend is Wednesday, February 19th. This represents a $3.40 dividend on an annualized basis and a yield of 3.55%. Consolidated Edison's dividend payout ratio (DPR) is currently 62.52%.

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.