Wernau Asset Management Inc. Invests $486,000 in Consolidated Edison, Inc. (NYSE:ED)

Wernau Asset Management Inc. acquired a new position in Consolidated Edison, Inc. (NYSE:ED - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 5,447 shares of the utilities provider's stock, valued at approximately $486,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Capital Performance Advisors LLP acquired a new stake in shares of Consolidated Edison during the 3rd quarter worth approximately $27,000. Ashton Thomas Securities LLC acquired a new stake in Consolidated Edison in the third quarter worth $30,000. AlphaMark Advisors LLC bought a new stake in Consolidated Edison in the fourth quarter valued at $27,000. Centricity Wealth Management LLC acquired a new position in shares of Consolidated Edison during the fourth quarter valued at $39,000. Finally, FSA Wealth Management LLC acquired a new position in shares of Consolidated Edison during the third quarter valued at $55,000. Institutional investors own 66.29% of the company's stock.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. UBS Group lifted their price objective on shares of Consolidated Edison from $105.00 to $110.00 and gave the company a "neutral" rating in a research report on Tuesday, February 25th. Scotiabank increased their price objective on Consolidated Edison from $100.00 to $101.00 and gave the stock a "sector perform" rating in a report on Monday, February 24th. Mizuho raised their target price on Consolidated Edison from $92.00 to $95.00 and gave the company a "neutral" rating in a research report on Monday, February 3rd. Barclays upped their price objective on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock an "underweight" rating in a report on Monday, February 24th. Finally, Morgan Stanley decreased 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. Two research 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 stock. Based on data from MarketBeat, Consolidated Edison has a consensus rating of "Hold" and a consensus target price of $101.50.

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Consolidated Edison Trading Up 0.6 %

ED traded up $0.63 during trading on Thursday, reaching $100.83. The company had a trading volume of 4,312,303 shares, compared to its average volume of 2,736,723. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01. Consolidated Edison, Inc. has a 12-month low of $87.16 and a 12-month high of $107.75. The company has a market cap of $34.96 billion, a price-to-earnings ratio of 19.24, a PEG ratio of 3.05 and a beta of 0.39. The firm's 50-day simple moving average is $93.89 and its 200 day simple moving average is $98.00.

Consolidated Edison (NYSE:ED - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The utilities provider reported $0.98 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $3.63 billion. Equities research analysts anticipate that Consolidated Edison, Inc. will post 5.62 earnings per share for the current year.

Consolidated Edison Increases Dividend

The business also recently declared 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. This represents a $3.40 annualized dividend and a dividend yield of 3.37%. The ex-dividend date of this dividend is Wednesday, February 19th. Consolidated Edison's dividend payout ratio (DPR) is currently 64.89%.

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.