Berger Financial Group Inc Increases Stake in Consolidated Edison, Inc. (NYSE:ED)

Berger Financial Group Inc increased its stake in Consolidated Edison, Inc. (NYSE:ED) by 2.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,694 shares of the utilities provider’s stock after buying an additional 1,243 shares during the period. Berger Financial Group Inc’s holdings in Consolidated Edison were worth $4,970,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. AlphaMark Advisors LLC purchased a new stake in Consolidated Edison in the fourth quarter worth $27,000. Fairway Wealth LLC purchased a new stake in shares of Consolidated Edison in the 4th quarter worth about $36,000. OFI Invest Asset Management bought a new position in shares of Consolidated Edison in the 4th quarter worth about $35,000. Centricity Wealth Management LLC purchased a new position in Consolidated Edison during the 4th quarter valued at about $39,000. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new stake in Consolidated Edison during the fourth quarter worth about $44,000. 66.29% of the stock is owned by institutional investors.

Consolidated Edison Trading Down 0.8 %

Shares of NYSE:ED opened at $110.42 on Friday. Consolidated Edison, Inc. has a 52-week low of $87.28 and a 52-week high of $114.87. The stock has a market capitalization of $39.77 billion, a price-to-earnings ratio of 21.07, a PEG ratio of 3.05 and a beta of 0.27. 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 stock’s 50-day simple moving average is $106.42 and its two-hundred day simple moving average is $99.52.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings data on Thursday, February 20th. The utilities provider reported $0.98 earnings per share (EPS) for the quarter, topping 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 company had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.63 billion. Analysts expect that Consolidated Edison, Inc. will post 5.62 EPS for the current year.

Consolidated Edison Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Wednesday, May 14th will be issued a $0.85 dividend. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $3.40 dividend on an annualized basis and a yield of 3.08%. Consolidated Edison’s dividend payout ratio is currently 64.89%.

Analyst Upgrades and Downgrades

ED has been the subject of a number of analyst reports. UBS Group raised their target price on shares of Consolidated Edison from $110.00 to $113.00 and gave the company a “neutral” rating in a research note on Friday, March 21st. Barclays lifted their price objective on Consolidated Edison from $95.00 to $100.00 and gave the company an “underweight” rating in a research note on Tuesday, April 22nd. Evercore ISI downgraded Consolidated Edison from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 21st. Citigroup raised their price target on Consolidated Edison from $116.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, April 9th. Finally, Mizuho upped their price target 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. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Consolidated Edison presently has a consensus rating of “Hold” and a consensus price target of $103.60.

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.