Vaughan David Investments LLC IL Buys 156 Shares of Consolidated Edison, Inc. (NYSE:ED)

Vaughan David Investments LLC IL lifted its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 0.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,011 shares of the utilities provider’s stock after purchasing an additional 156 shares during the quarter. Vaughan David Investments LLC IL’s holdings in Consolidated Edison were worth $2,093,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Retirement Group LLC grew its stake in shares of Consolidated Edison by 74.8% in the 4th quarter. Retirement Group LLC now owns 271 shares of the utilities provider’s stock valued at $26,000 after buying an additional 116 shares during the period. Financial Gravity Asset Management Inc. increased its holdings in shares of Consolidated Edison by 215.6% during the third quarter. Financial Gravity Asset Management Inc. now owns 284 shares of the utilities provider’s stock valued at $25,000 after acquiring an additional 194 shares in the last quarter. Level Financial Advisors Inc. acquired a new position in shares of Consolidated Edison during the third quarter worth approximately $26,000. Tyler Stone Wealth Management bought a new position in shares of Consolidated Edison in the 2nd quarter worth $28,000. Finally, Turtle Creek Wealth Advisors LLC bought a new position in shares of Consolidated Edison in the 4th quarter worth $29,000. 66.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ED has been the subject of a number of analyst reports. Royal Bank of Canada cut their price target on Consolidated Edison from $94.00 to $93.00 and set a “sector perform” rating for the company in a research note on Friday, February 16th. LADENBURG THALM/SH SH initiated coverage on Consolidated Edison in a research report on Wednesday, January 3rd. They set a “neutral” rating and a $92.50 target price on the stock. KeyCorp raised Consolidated Edison from an “underweight” rating to a “sector weight” rating in a research report on Thursday, January 4th. Barclays lifted their price objective on shares of Consolidated Edison from $86.00 to $87.00 and gave the stock an “equal weight” rating in a report on Thursday, March 14th. Finally, Scotiabank increased their target price on shares of Consolidated Edison from $90.00 to $91.00 and gave the company a “sector underperform” rating in a report on Tuesday, February 20th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat, Consolidated Edison currently has a consensus rating of “Hold” and a consensus target price of $87.96.

Consolidated Edison Trading Up 0.1 %

Consolidated Edison stock traded up $0.08 during mid-day trading on Friday, hitting $88.63. The company’s stock had a trading volume of 1,395,978 shares, compared to its average volume of 1,557,902. The business has a 50 day moving average price of $88.91 and a 200-day moving average price of $89.46. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.01 and a quick ratio of 0.94. Consolidated Edison, Inc. has a 12 month low of $80.46 and a 12 month high of $100.92. The stock has a market cap of $30.62 billion, a price-to-earnings ratio of 12.34, a price-to-earnings-growth ratio of 8.35 and a beta of 0.35.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings data on Thursday, February 15th. The utilities provider reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.02. Consolidated Edison had a return on equity of 8.41% and a net margin of 17.19%. The firm had revenue of $3.44 billion during the quarter, compared to the consensus estimate of $3.70 billion. During the same quarter in the previous year, the company posted $0.81 earnings per share. The business’s revenue was down 14.6% on a year-over-year basis. As a group, analysts forecast that Consolidated Edison, Inc. will post 5.3 EPS for the current year.

Consolidated Edison Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Wednesday, February 14th were given a dividend of $0.83 per share. The ex-dividend date was Tuesday, February 13th. This represents a $3.32 annualized dividend and a dividend yield of 3.75%. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.81. Consolidated Edison’s payout ratio is currently 46.24%.

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.