Aptus Capital Advisors LLC Purchases 556 Shares of Consolidated Edison, Inc. (NYSE:ED)

Aptus Capital Advisors LLC boosted its position in Consolidated Edison, Inc. (NYSE:ED) by 10.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,134 shares of the utilities provider’s stock after purchasing an additional 556 shares during the quarter. Aptus Capital Advisors LLC’s holdings in Consolidated Edison were worth $547,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Barclays PLC raised its stake in Consolidated Edison by 30.1% during the third quarter. Barclays PLC now owns 1,231,924 shares of the utilities provider’s stock valued at $128,279,000 after buying an additional 285,115 shares during the last quarter. Tidal Investments LLC lifted its stake in shares of Consolidated Edison by 4.5% in the third quarter. Tidal Investments LLC now owns 6,437 shares of the utilities provider’s stock worth $670,000 after buying an additional 276 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Consolidated Edison by 5.1% during the third quarter. Principal Financial Group Inc. now owns 477,722 shares of the utilities provider’s stock valued at $49,745,000 after buying an additional 23,024 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Consolidated Edison by 4.0% during the third quarter. JPMorgan Chase & Co. now owns 2,145,128 shares of the utilities provider’s stock valued at $223,373,000 after acquiring an additional 82,985 shares in the last quarter. Finally, Douglas Lane & Associates LLC raised its holdings in Consolidated Edison by 54.7% in the 4th quarter. Douglas Lane & Associates LLC now owns 5,504 shares of the utilities provider’s stock worth $491,000 after acquiring an additional 1,947 shares during the last quarter. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on ED. Evercore ISI downgraded Consolidated Edison from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 21st. Morgan Stanley set a $94.00 price objective on shares of Consolidated Edison and gave the company an “overweight” rating in a research report on Wednesday, April 23rd. Citigroup boosted their target price on shares of Consolidated Edison from $116.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday, April 9th. Mizuho increased their price objective on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Finally, Guggenheim boosted their target price on shares of Consolidated Edison from $96.00 to $103.00 and gave the company a “neutral” rating in a research report on Friday, May 2nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $105.80.

Consolidated Edison Stock Up 0.5 %

Shares of ED stock opened at $111.04 on Thursday. The company has a market capitalization of $40.01 billion, a price-to-earnings ratio of 21.19, a PEG ratio of 3.05 and a beta of 0.29. 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 company’s fifty day moving average price is $108.39 and its 200-day moving average price is $99.93. Consolidated Edison, Inc. has a one year low of $87.28 and a one year high of $114.87.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings results on Thursday, May 1st. The utilities provider reported $2.25 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.05). Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. The business had revenue of $4.80 billion during the quarter, compared to analysts’ expectations of $4.21 billion. During the same period in the prior year, the firm posted $2.15 earnings per share. Sell-side analysts expect that Consolidated Edison, Inc. will post 5.62 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Wednesday, May 14th will be paid a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 3.06%. The ex-dividend date of this dividend is Wednesday, May 14th. Consolidated Edison’s payout ratio is currently 62.85%.

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.