867 Shares in Consolidated Edison, Inc. (NYSE:ED) Purchased by Vermillion Wealth Management Inc.

Vermillion Wealth Management Inc. purchased a new position in Consolidated Edison, Inc. (NYSE:ED) in the fourth quarter, HoldingsChannel reports. The fund purchased 867 shares of the utilities provider’s stock, valued at approximately $77,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Mackenzie Financial Corp increased its position in shares of Consolidated Edison by 126.7% during the fourth quarter. Mackenzie Financial Corp now owns 76,739 shares of the utilities provider’s stock valued at $6,847,000 after acquiring an additional 42,894 shares in the last quarter. CTC Alternative Strategies Ltd. bought a new stake in shares of Consolidated Edison during the fourth quarter valued at approximately $501,000. Fourth Dimension Wealth LLC bought a new stake in shares of Consolidated Edison during the fourth quarter valued at approximately $51,000. Vise Technologies Inc. increased its position in shares of Consolidated Edison by 21.4% during the fourth quarter. Vise Technologies Inc. now owns 4,534 shares of the utilities provider’s stock valued at $405,000 after acquiring an additional 800 shares in the last quarter. Finally, Focus Partners Advisor Solutions LLC increased its position in shares of Consolidated Edison by 26.2% during the fourth quarter. Focus Partners Advisor Solutions LLC now owns 17,206 shares of the utilities provider’s stock valued at $1,535,000 after acquiring an additional 3,576 shares in the last quarter. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Wall Street Analyst Weigh In

ED has been the subject of several analyst reports. Wells Fargo & Company raised their price target on shares of Consolidated Edison from $103.00 to $114.00 and gave the company an “equal weight” rating in a research report on Friday, May 2nd. UBS Group lifted their target price on shares of Consolidated Edison from $110.00 to $113.00 and gave the stock a “neutral” rating in a research report on Friday, March 21st. KeyCorp downgraded shares of Consolidated Edison from a “sector weight” rating to an “underweight” rating and set a $90.00 target price for the company. in a research report on Wednesday, May 14th. Morgan Stanley cut their target price on shares of Consolidated Edison from $94.00 to $93.00 and set an “underweight” rating for the company in a research report on Thursday. Finally, Citigroup lifted their target price on shares of Consolidated Edison from $116.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, April 9th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $104.27.

Consolidated Edison Stock Up 0.6%

Shares of NYSE ED opened at $104.02 on Monday. The firm’s 50-day moving average price is $108.33 and its 200-day moving average price is $100.00. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.07. The stock has a market capitalization of $37.48 billion, a price-to-earnings ratio of 19.85, a P/E/G ratio of 3.05 and a beta of 0.29. Consolidated Edison, Inc. has a 12-month low of $87.28 and a 12-month high of $114.87.

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

Consolidated Edison Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Wednesday, May 14th will be issued a dividend of $0.85 per share. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $3.40 annualized dividend and a yield of 3.27%. Consolidated Edison’s payout ratio is 62.85%.

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.