Farther Finance Advisors LLC Has $368,000 Position in Consolidated Edison, Inc. (NYSE:ED)

Farther Finance Advisors LLC lessened its holdings in shares of Consolidated Edison, Inc. (NYSE:ED) by 21.6% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 4,119 shares of the utilities provider’s stock after selling 1,136 shares during the period. Farther Finance Advisors LLC’s holdings in Consolidated Edison were worth $368,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. AlphaMark Advisors LLC acquired a new position in shares of Consolidated Edison during the 4th quarter worth about $27,000. OFI Invest Asset Management bought a new position in Consolidated Edison during the 4th quarter worth approximately $35,000. Fairway Wealth LLC acquired a new position in Consolidated Edison during the fourth quarter valued at approximately $36,000. Centricity Wealth Management LLC bought a new stake in Consolidated Edison in the fourth quarter valued at approximately $39,000. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new stake in Consolidated Edison in the fourth quarter worth $44,000. Institutional investors own 66.29% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on ED. Scotiabank raised their price objective on Consolidated Edison from $100.00 to $101.00 and gave the stock a “sector perform” rating in a research note on Monday, February 24th. Mizuho lifted their price objective on Consolidated Edison from $92.00 to $95.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. UBS Group increased their target price on Consolidated Edison from $105.00 to $110.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 25th. Morgan Stanley cut their price target on shares of Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating on the stock in a research note on Friday, November 22nd. Finally, Evercore ISI cut shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 21st. Two research 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 company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $101.50.

Consolidated Edison Trading Up 1.3 %

Consolidated Edison stock opened at $107.74 on Tuesday. The company has a market cap of $37.36 billion, a price-to-earnings ratio of 20.56, a P/E/G ratio of 3.05 and a beta of 0.30. The firm has a 50-day moving average of $96.35 and a 200-day moving average of $98.21. 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, Inc. has a one year low of $87.16 and a one year high of $108.43.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Thursday, February 20th. The utilities provider reported $0.98 EPS for the quarter, beating the consensus estimate of $0.97 by $0.01. The firm had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.63 billion. Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. On average, equities analysts expect that Consolidated Edison, Inc. will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Wednesday, February 19th were issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 3.16%. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend was Wednesday, February 19th. Consolidated Edison’s payout ratio is presently 64.89%.

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.