VSM Wealth Advisory LLC Invests $210,000 in Consolidated Edison, Inc. (NYSE:ED)

VSM Wealth Advisory LLC acquired a new stake in shares of Consolidated Edison, Inc. (NYSE:ED) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,354 shares of the utilities provider’s stock, valued at approximately $210,000.

Other large investors have also recently made changes to their positions in the company. AlphaMark Advisors LLC purchased a new stake in shares of Consolidated Edison during the fourth quarter valued at $27,000. Fairway Wealth LLC purchased a new stake in shares of Consolidated Edison during the fourth quarter valued at $36,000. OFI Invest Asset Management purchased a new stake in shares of Consolidated Edison during the fourth quarter valued at $35,000. Centricity Wealth Management LLC purchased a new stake in shares of Consolidated Edison during the fourth quarter valued at $39,000. Finally, Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of Consolidated Edison during the fourth quarter valued at $44,000. 66.29% of the stock is owned by hedge funds and other institutional investors.

Consolidated Edison Trading Up 0.3 %

Shares of Consolidated Edison stock opened at $107.89 on Wednesday. The firm has a 50-day simple moving average of $96.75 and a two-hundred day simple moving average of $98.26. The company has a market cap of $37.41 billion, a P/E ratio of 20.59, a price-to-earnings-growth ratio of 3.05 and a beta of 0.30. Consolidated Edison, Inc. has a fifty-two week low of $87.16 and a fifty-two week high of $108.43. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01.

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

Consolidated Edison Increases Dividend

The business 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 represents a $3.40 annualized dividend and a dividend yield of 3.15%. The ex-dividend date was Wednesday, February 19th. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.83. Consolidated Edison’s dividend payout ratio is 64.89%.

Analyst Ratings Changes

ED has been the topic of a number of research analyst reports. UBS Group boosted their price objective on shares of Consolidated Edison from $105.00 to $110.00 and gave the company a “neutral” rating in a report on Tuesday, February 25th. Mizuho upped their price target on shares of Consolidated Edison from $92.00 to $95.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Morgan Stanley lowered their price target on shares of Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating on the stock in a report on Friday, November 22nd. Scotiabank upped their price target on shares of Consolidated Edison from $100.00 to $101.00 and gave the company a “sector perform” rating in a report on Monday, February 24th. Finally, Evercore ISI lowered 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 given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Consolidated Edison presently has an average rating of “Hold” and an average target price of $101.50.

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.