Sequoia Financial Advisors LLC Purchases 961 Shares of Consolidated Edison, Inc. (NYSE:ED)

Sequoia Financial Advisors LLC boosted its position in shares of Consolidated Edison, Inc. (NYSE:ED) by 7.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,496 shares of the utilities provider’s stock after buying an additional 961 shares during the period. Sequoia Financial Advisors LLC’s holdings in Consolidated Edison were worth $1,204,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. TD Private Client Wealth LLC raised its holdings in shares of Consolidated Edison by 4.7% during the 3rd quarter. TD Private Client Wealth LLC now owns 2,334 shares of the utilities provider’s stock worth $243,000 after acquiring an additional 104 shares in the last quarter. Jacobi Capital Management LLC increased its position in Consolidated Edison by 4.2% in the fourth quarter. Jacobi Capital Management LLC now owns 2,569 shares of the utilities provider’s stock worth $229,000 after purchasing an additional 104 shares during the last quarter. D.A. Davidson & CO. raised its stake in Consolidated Edison by 1.1% during the third quarter. D.A. Davidson & CO. now owns 11,142 shares of the utilities provider’s stock valued at $1,160,000 after purchasing an additional 124 shares in the last quarter. Townsquare Capital LLC lifted its position in Consolidated Edison by 2.4% during the third quarter. Townsquare Capital LLC now owns 5,574 shares of the utilities provider’s stock valued at $580,000 after purchasing an additional 130 shares during the last quarter. Finally, Trust Point Inc. grew its stake in shares of Consolidated Edison by 4.9% in the 4th quarter. Trust Point Inc. now owns 2,790 shares of the utilities provider’s stock worth $249,000 after buying an additional 131 shares in the last quarter. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Consolidated Edison Trading Up 1.9 %

ED stock opened at $106.60 on Friday. Consolidated Edison, Inc. has a 12 month low of $87.16 and a 12 month high of $107.97. The firm’s 50-day moving average is $95.96 and its 200 day moving average is $98.18. The company has a market capitalization of $36.97 billion, a PE ratio of 20.34, a P/E/G ratio of 3.05 and a beta of 0.30. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93.

Consolidated Edison (NYSE:ED) last issued its earnings results on Thursday, February 20th. The utilities provider reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.01. The business had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.63 billion. Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. On average, research analysts anticipate that Consolidated Edison, Inc. will post 5.62 EPS for the current year.

Consolidated Edison Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Wednesday, February 19th were given a dividend of $0.85 per share. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.83. The ex-dividend date was Wednesday, February 19th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.19%. Consolidated Edison’s dividend payout ratio is presently 64.89%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on ED shares. Evercore ISI cut shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 21st. Scotiabank upped their price objective on Consolidated Edison from $100.00 to $101.00 and gave the company a “sector perform” rating in a research report on Monday, February 24th. UBS Group lifted their target price on Consolidated Edison from $105.00 to $110.00 and gave the stock a “neutral” rating in a report on Tuesday, February 25th. Morgan Stanley decreased their price target on Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating on the stock in a report on Friday, November 22nd. Finally, Mizuho lifted 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. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $101.50.

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.