Vision Financial Markets LLC Takes Position in Consolidated Edison, Inc. (NYSE:ED)

Vision Financial Markets LLC bought a new position in Consolidated Edison, Inc. (NYSE:ED - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 4,928 shares of the utilities provider's stock, valued at approximately $440,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new stake in shares of Consolidated Edison during the 3rd quarter valued at $27,000. AlphaMark Advisors LLC acquired a new stake in shares of Consolidated Edison during the 4th quarter valued at $27,000. Ashton Thomas Securities LLC acquired a new stake in shares of Consolidated Edison during the 3rd quarter valued at $30,000. Centricity Wealth Management LLC acquired a new stake in shares of Consolidated Edison during the 4th quarter valued at $39,000. Finally, CGC Financial Services LLC lifted its position in shares of Consolidated Edison by 64.0% during the 4th quarter. CGC Financial Services LLC now owns 546 shares of the utilities provider's stock valued at $49,000 after acquiring an additional 213 shares during the last quarter. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Consolidated Edison Stock Up 2.8 %

Shares of NYSE ED traded up $2.82 during mid-day trading on Friday, reaching $103.73. The company had a trading volume of 2,865,756 shares, compared to its average volume of 2,740,435. Consolidated Edison, Inc. has a twelve month low of $87.16 and a twelve month high of $107.75. 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 stock has a market capitalization of $35.97 billion, a PE ratio of 19.80, a price-to-earnings-growth ratio of 3.05 and a beta of 0.30. The stock's 50 day moving average is $94.39 and its 200-day moving average is $98.03.

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Consolidated Edison (NYSE:ED - Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The utilities provider reported $0.98 earnings per share for the quarter, topping analysts' consensus estimates of $0.97 by $0.01. Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. The business had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.63 billion. As a group, equities analysts anticipate that Consolidated Edison, Inc. will post 5.62 earnings per share for the current fiscal 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 given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 3.28%. This is an increase from Consolidated Edison's previous quarterly dividend of $0.83. The ex-dividend date is Wednesday, February 19th. Consolidated Edison's dividend payout ratio is presently 64.89%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on ED shares. Morgan Stanley cut their price objective on Consolidated Edison from $88.00 to $85.00 and set an "underweight" rating for the company in a research report on Friday, November 22nd. Mizuho increased their target price on Consolidated Edison from $92.00 to $95.00 and gave the company a "neutral" rating in a report on Monday, February 3rd. UBS Group increased their target price on Consolidated Edison from $105.00 to $110.00 and gave the company a "neutral" rating in a report on Tuesday, February 25th. Barclays increased their target price on Consolidated Edison from $92.00 to $95.00 and gave the company an "underweight" rating in a report on Monday, February 24th. Finally, Scotiabank increased their target price on Consolidated Edison from $100.00 to $101.00 and gave the company a "sector perform" rating in a report on Monday, February 24th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $101.50.

Consolidated Edison Company 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.