Consolidated Edison, Inc. (NYSE:ED) Shares Bought by Venturi Wealth Management LLC

Venturi Wealth Management LLC increased its holdings in shares of Consolidated Edison, Inc. (NYSE:ED - Free Report) by 613.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,793 shares of the utilities provider's stock after purchasing an additional 4,121 shares during the period. Venturi Wealth Management LLC's holdings in Consolidated Edison were worth $428,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in ED. Point72 Asset Management L.P. grew its stake in shares of Consolidated Edison by 1,766.0% in the third quarter. Point72 Asset Management L.P. now owns 988,961 shares of the utilities provider's stock valued at $102,980,000 after buying an additional 935,962 shares in the last quarter. FMR LLC boosted its holdings in Consolidated Edison by 82.3% in the 3rd quarter. FMR LLC now owns 1,268,424 shares of the utilities provider's stock worth $132,081,000 after acquiring an additional 572,530 shares during the period. International Assets Investment Management LLC boosted its holdings in Consolidated Edison by 10,262.1% in the 3rd quarter. International Assets Investment Management LLC now owns 553,546 shares of the utilities provider's stock worth $57,641,000 after acquiring an additional 548,204 shares during the period. National Bank of Canada FI grew its position in Consolidated Edison by 350.6% in the third quarter. National Bank of Canada FI now owns 620,705 shares of the utilities provider's stock valued at $64,634,000 after acquiring an additional 482,953 shares in the last quarter. Finally, State Street Corp raised its stake in shares of Consolidated Edison by 1.7% during the third quarter. State Street Corp now owns 23,429,218 shares of the utilities provider's stock valued at $2,439,684,000 after purchasing an additional 399,034 shares during the period. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on ED shares. Morgan Stanley decreased their target price on shares of 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 raised shares of Consolidated Edison from a "sector underperform" rating to a "sector perform" rating and upped their price objective for the company from $90.00 to $100.00 in a research report on Thursday, December 12th. Barclays dropped their target price on Consolidated Edison from $99.00 to $92.00 and set an "underweight" rating on the stock in a research report on Monday, January 27th. Mizuho increased their price target on Consolidated Edison from $92.00 to $95.00 and gave the company a "neutral" rating in a report on Monday, February 3rd. Finally, Evercore ISI lowered Consolidated Edison from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, January 21st. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Consolidated Edison has an average rating of "Hold" and an average target price of $100.70.

Consolidated Edison Stock Performance

Shares of ED traded up $3.02 during mid-day trading on Friday, hitting $98.78. The stock had a trading volume of 2,414,347 shares, compared to its average volume of 2,397,164. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07. The company has a market cap of $34.22 billion, a PE ratio of 18.60, a PEG ratio of 3.04 and a beta of 0.39. Consolidated Edison, Inc. has a fifty-two week low of $85.85 and a fifty-two week high of $107.75. The company's fifty day simple moving average is $91.98 and its two-hundred day simple moving average is $98.02.

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, beating the consensus estimate of $0.97 by $0.01. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.70%. The firm had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.63 billion. On average, equities analysts expect that Consolidated Edison, Inc. will post 5.35 earnings per share for the current year.

Consolidated Edison Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th will be issued a $0.85 dividend. The ex-dividend date is Wednesday, February 19th. This represents a $3.40 dividend on an annualized basis and a yield of 3.44%. This is a boost from Consolidated Edison's previous quarterly dividend of $0.83. Consolidated Edison's dividend payout ratio (DPR) is currently 64.03%.

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.