Citizens Financial Group Inc. RI Has $889,000 Stock Position in Consolidated Edison, Inc. (NYSE:ED)

Citizens Financial Group Inc. RI raised its holdings in Consolidated Edison, Inc. (NYSE:ED) by 25.4% in the 4th quarter, HoldingsChannel reports. The fund owned 9,968 shares of the utilities provider’s stock after acquiring an additional 2,021 shares during the period. Citizens Financial Group Inc. RI’s holdings in Consolidated Edison were worth $889,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. AlphaMark Advisors LLC acquired a new position in Consolidated Edison in the 4th quarter valued at approximately $27,000. Ashton Thomas Securities LLC acquired a new stake in shares of Consolidated Edison during the third quarter worth $30,000. OFI Invest Asset Management acquired a new stake in shares of Consolidated Edison during the fourth quarter worth $35,000. Centricity Wealth Management LLC acquired a new stake in shares of Consolidated Edison during the fourth quarter worth $39,000. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of Consolidated Edison during the fourth quarter worth $44,000. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Consolidated Edison Stock Down 1.0 %

Consolidated Edison stock opened at $102.72 on Thursday. Consolidated Edison, Inc. has a 1-year low of $87.16 and a 1-year high of $107.97. The firm has a market capitalization of $35.62 billion, a price-to-earnings ratio of 19.60, a price-to-earnings-growth ratio of 3.05 and a beta of 0.30. The firm’s fifty day moving average price is $95.30 and its two-hundred day moving average price is $98.11. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.07.

Consolidated Edison (NYSE:ED) last released its quarterly earnings data on Thursday, February 20th. The utilities provider reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.01. Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. The firm had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.63 billion. On average, equities research analysts predict that Consolidated Edison, Inc. will post 5.62 earnings per share 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 3.31%. The ex-dividend date is Wednesday, February 19th. Consolidated Edison’s dividend payout ratio (DPR) is presently 64.89%.

Wall Street Analyst Weigh In

ED has been the subject of several recent analyst reports. Scotiabank increased their price objective on shares of Consolidated Edison from $100.00 to $101.00 and gave the stock a “sector perform” rating in a research report on Monday, February 24th. UBS Group increased their price objective on shares of Consolidated Edison from $105.00 to $110.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 25th. Morgan Stanley decreased their price objective on shares of Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating for the company in a research report on Friday, November 22nd. Evercore ISI lowered shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 21st. Finally, Mizuho increased their target price 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. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, two 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 stock has an average rating of “Hold” and an average price target of $101.50.

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.