947 Shares in Consolidated Edison, Inc. (NYSE:ED) Purchased by Cetera Trust Company N.A

Cetera Trust Company N.A bought a new position in Consolidated Edison, Inc. (NYSE:ED) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 947 shares of the utilities provider’s stock, valued at approximately $86,000.

Several other large investors also recently modified their holdings of ED. AE Wealth Management LLC grew its stake in shares of Consolidated Edison by 23.4% in the third quarter. AE Wealth Management LLC now owns 33,606 shares of the utilities provider’s stock worth $2,874,000 after purchasing an additional 6,366 shares during the last quarter. Ritholtz Wealth Management purchased a new stake in Consolidated Edison in the third quarter worth about $202,000. Capital Investment Advisors LLC lifted its holdings in Consolidated Edison by 1.1% in the third quarter. Capital Investment Advisors LLC now owns 35,774 shares of the utilities provider’s stock worth $3,060,000 after buying an additional 377 shares during the period. Ballast Inc. lifted its holdings in Consolidated Edison by 2.7% in the third quarter. Ballast Inc. now owns 13,329 shares of the utilities provider’s stock worth $1,140,000 after buying an additional 353 shares during the period. Finally, Advisory Alpha LLC lifted its holdings in Consolidated Edison by 20.7% in the third quarter. Advisory Alpha LLC now owns 3,343 shares of the utilities provider’s stock worth $286,000 after buying an additional 574 shares during the period. 66.29% of the stock is owned by institutional investors.

Consolidated Edison Price Performance

Shares of ED opened at $92.73 on Tuesday. The company has a market capitalization of $32.04 billion, a P/E ratio of 12.92, a price-to-earnings-growth ratio of 8.65 and a beta of 0.35. The company has a quick ratio of 0.94, a current ratio of 1.01 and a debt-to-equity ratio of 1.04. The firm has a 50 day moving average of $89.03 and a 200 day moving average of $89.76. Consolidated Edison, Inc. has a twelve month low of $80.46 and a twelve month high of $100.92.

Consolidated Edison (NYSE:ED) last posted its earnings results on Thursday, February 15th. The utilities provider reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.02. Consolidated Edison had a net margin of 17.19% and a return on equity of 8.41%. The business 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 firm posted $0.81 EPS. The firm’s revenue was down 14.6% on a year-over-year basis. As a group, equities research analysts anticipate that Consolidated Edison, Inc. will post 5.3 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Wednesday, May 15th will be given a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date of this dividend is Tuesday, May 14th. Consolidated Edison’s dividend payout ratio (DPR) is presently 46.24%.

Wall Street Analyst Weigh In

Several brokerages have commented on ED. Barclays raised 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. KeyCorp upgraded shares of Consolidated Edison from an “underweight” rating to a “sector weight” rating in a report on Thursday, January 4th. LADENBURG THALM/SH SH started coverage on shares of Consolidated Edison in a report on Wednesday, January 3rd. They set a “neutral” rating and a $92.50 target price for the company. UBS Group lowered their target price on shares of Consolidated Edison from $99.00 to $94.00 and set a “neutral” rating for the company in a report on Friday, February 16th. Finally, Scotiabank lowered their target price on shares of Consolidated Edison from $91.00 to $85.00 and set a “sector underperform” rating for the company in a report on Monday. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $87.54.

About Consolidated Edison

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.