Creative Financial Designs Inc. ADV Boosts Stake in Consolidated Edison, Inc. (NYSE:ED)

Creative Financial Designs Inc. ADV grew its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 2.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,246 shares of the utilities provider’s stock after buying an additional 175 shares during the quarter. Creative Financial Designs Inc. ADV’s holdings in Consolidated Edison were worth $736,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in ED. AlphaMark Advisors LLC purchased a new position in Consolidated Edison in the 4th quarter worth $27,000. OFI Invest Asset Management purchased a new position in Consolidated Edison in the 4th quarter worth $35,000. Fairway Wealth LLC purchased a new position in Consolidated Edison in the 4th quarter worth $36,000. Centricity Wealth Management LLC purchased a new position in Consolidated Edison in the 4th quarter worth $39,000. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new stake in Consolidated Edison in the 4th quarter worth $44,000. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on ED shares. Evercore ISI lowered shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 21st. Scotiabank raised their price target on shares of Consolidated Edison from $100.00 to $101.00 and gave the stock a “sector perform” rating in a report on Monday, February 24th. Barclays raised their price target on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock an “underweight” rating in a report on Monday, February 24th. UBS Group raised their price target on shares of Consolidated Edison from $105.00 to $110.00 and gave the stock a “neutral” rating in a report on Tuesday, February 25th. Finally, Mizuho raised their price target on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $101.50.

Consolidated Edison Trading Up 0.3 %

Shares of ED opened at $107.89 on Wednesday. The firm’s 50-day moving average price is $96.75 and its 200-day moving average price is $98.26. The firm has a market capitalization of $37.41 billion, a price-to-earnings ratio of 20.59, a PEG ratio of 3.05 and a beta of 0.30. 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, Inc. has a 1-year low of $87.16 and a 1-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 earnings per share (EPS) 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 company had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.63 billion. Sell-side analysts anticipate that Consolidated Edison, Inc. will post 5.62 EPS for the current 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 given a dividend of $0.85 per share. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.83. This represents a $3.40 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date was Wednesday, February 19th. Consolidated Edison’s dividend payout ratio (DPR) is 64.89%.

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.