Southland Equity Partners LLC Has $229,000 Stock Holdings in Consolidated Edison, Inc. (NYSE:ED)

Southland Equity Partners LLC raised its holdings in Consolidated Edison, Inc. (NYSE:ED) by 11.8% in the 4th quarter, HoldingsChannel reports. The fund owned 2,563 shares of the utilities provider’s stock after acquiring an additional 271 shares during the period. Southland Equity Partners LLC’s holdings in Consolidated Edison were worth $229,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Wilmington Savings Fund Society FSB bought a new stake in Consolidated Edison in the third quarter valued at approximately $776,000. Pathway Financial Advisers LLC boosted its stake in shares of Consolidated Edison by 10,302.6% in the 3rd quarter. Pathway Financial Advisers LLC now owns 24,446 shares of the utilities provider’s stock valued at $2,546,000 after purchasing an additional 24,211 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Consolidated Edison by 4.0% during the third quarter. JPMorgan Chase & Co. now owns 2,145,128 shares of the utilities provider’s stock worth $223,373,000 after buying an additional 82,985 shares during the last quarter. Hennessy Advisors Inc. lifted its holdings in Consolidated Edison by 2.8% in the fourth quarter. Hennessy Advisors Inc. now owns 143,136 shares of the utilities provider’s stock valued at $12,772,000 after buying an additional 3,900 shares during the period. Finally, Gateway Investment Advisers LLC lifted its holdings in Consolidated Edison by 102.7% in the fourth quarter. Gateway Investment Advisers LLC now owns 430,279 shares of the utilities provider’s stock valued at $38,394,000 after buying an additional 217,981 shares during the period. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Price Performance

ED stock opened at $90.66 on Friday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01. The business has a 50-day simple moving average of $92.99 and a two-hundred day simple moving average of $97.93. The company has a market capitalization of $31.41 billion, a P/E ratio of 17.07, a price-to-earnings-growth ratio of 2.89 and a beta of 0.38. Consolidated Edison, Inc. has a 52-week low of $85.85 and a 52-week high of $107.75.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings results on Thursday, November 7th. The utilities provider reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.56 by $0.12. The business had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $4.02 billion. Consolidated Edison had a return on equity of 8.70% and a net margin of 12.27%. Research analysts expect that Consolidated Edison, Inc. will post 5.35 EPS for the current fiscal year.

Consolidated Edison Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Wednesday, February 19th will be given a dividend of $0.85 per share. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.83. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.75%. The ex-dividend date of this dividend is Wednesday, February 19th. Consolidated Edison’s dividend payout ratio (DPR) is presently 64.03%.

Analysts Set New Price Targets

Several research firms have recently weighed in on ED. Evercore ISI lowered Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Citigroup upgraded Consolidated Edison from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $103.00 to $116.00 in a report on Tuesday, October 15th. Barclays reduced their price objective on shares of Consolidated Edison from $104.00 to $99.00 and set an “underweight” rating for the company in a research report on Friday, November 8th. Scotiabank upgraded shares of Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and boosted their target price for the company from $90.00 to $100.00 in a research report on Thursday, December 12th. Finally, Jefferies Financial Group started coverage on shares of Consolidated Edison in a report on Wednesday, October 9th. They issued a “hold” rating and a $108.00 price target for the company. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $100.64.

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.