Graney & King LLC Makes New Investment in Consolidated Edison, Inc. (NYSE:ED)

Graney & King LLC purchased a new position in Consolidated Edison, Inc. (NYSE:ED) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,360 shares of the utilities provider’s stock, valued at approximately $300,000.

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

Consolidated Edison Stock Performance

ED opened at $105.60 on Wednesday. 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 1-year low of $87.16 and a 1-year high of $109.36. The company has a 50 day simple moving average of $98.60 and a two-hundred day simple moving average of $98.40. The firm has a market cap of $36.62 billion, a P/E ratio of 20.15, a PEG ratio of 3.05 and a beta of 0.30.

Consolidated Edison (NYSE:ED) last posted 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. Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. The company had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.63 billion. Equities analysts forecast that Consolidated Edison, Inc. will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Wednesday, February 19th were issued a $0.85 dividend. 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 3.22%. Consolidated Edison’s dividend payout ratio (DPR) is presently 64.89%.

Analyst Ratings Changes

Several analysts have issued reports on ED shares. Morgan Stanley upped their price target on shares of Consolidated Edison from $85.00 to $91.00 and gave the company an “underweight” rating in a research report on Thursday, March 20th. Mizuho increased their price objective on Consolidated Edison from $92.00 to $95.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. UBS Group increased their price target on shares of Consolidated Edison from $110.00 to $113.00 and gave the company a “neutral” rating in a research report on Friday, March 21st. Evercore ISI lowered shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 21st. Finally, Barclays boosted their price target on Consolidated Edison from $92.00 to $95.00 and gave the company an “underweight” rating in a report on Monday, February 24th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $102.40.

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.