Victrix Investment Advisors Invests $267,000 in Consolidated Edison, Inc. (NYSE:ED)

Victrix Investment Advisors acquired a new stake in Consolidated Edison, Inc. (NYSE:ED) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 2,988 shares of the utilities provider’s stock, valued at approximately $267,000.

Several other hedge funds have also recently bought and sold shares of ED. Jacobi Capital Management LLC grew its holdings in Consolidated Edison by 4.2% in the fourth quarter. Jacobi Capital Management LLC now owns 2,569 shares of the utilities provider’s stock valued at $229,000 after purchasing an additional 104 shares during the last quarter. Richwood Investment Advisors LLC boosted its position in shares of Consolidated Edison by 2.3% in the 4th quarter. Richwood Investment Advisors LLC now owns 5,194 shares of the utilities provider’s stock worth $463,000 after buying an additional 115 shares in the last quarter. Penobscot Investment Management Company Inc. boosted its position in shares of Consolidated Edison by 5.7% in the 4th quarter. Penobscot Investment Management Company Inc. now owns 2,300 shares of the utilities provider’s stock worth $205,000 after buying an additional 125 shares in the last quarter. TrinityPoint Wealth LLC grew its stake in Consolidated Edison by 1.1% in the 4th quarter. TrinityPoint Wealth LLC now owns 11,395 shares of the utilities provider’s stock valued at $1,017,000 after acquiring an additional 129 shares during the last quarter. Finally, Trust Point Inc. increased its holdings in Consolidated Edison by 4.9% during the 4th quarter. Trust Point Inc. now owns 2,790 shares of the utilities provider’s stock valued at $249,000 after acquiring an additional 131 shares in the last quarter. 66.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ED has been the topic of several recent research reports. KeyCorp downgraded shares of Consolidated Edison from a “sector weight” rating to an “underweight” rating and set a $90.00 price target on the stock. in a report on Wednesday, May 14th. Citigroup upped their target price on Consolidated Edison from $116.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday, April 9th. UBS Group increased their target price on Consolidated Edison from $110.00 to $113.00 and gave the company a “neutral” rating in a report on Friday, March 21st. Morgan Stanley set a $94.00 price target on Consolidated Edison and gave the stock an “overweight” rating in a report on Wednesday, April 23rd. Finally, Scotiabank increased their price objective on Consolidated Edison from $100.00 to $101.00 and gave the company a “sector perform” rating in a research note on Monday, February 24th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $104.36.

Consolidated Edison Stock Up 2.2%

ED opened at $104.31 on Monday. Consolidated Edison, Inc. has a 12 month low of $87.28 and a 12 month high of $114.87. The business has a 50-day moving average of $108.45 and a two-hundred day moving average of $99.80. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93. The stock has a market capitalization of $37.58 billion, a price-to-earnings ratio of 19.91, a price-to-earnings-growth ratio of 3.05 and a beta of 0.29.

Consolidated Edison (NYSE:ED) last released its earnings results on Thursday, May 1st. The utilities provider reported $2.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.30 by ($0.05). Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. The company had revenue of $4.80 billion during the quarter, compared to analyst estimates of $4.21 billion. During the same period in the prior year, the business posted $2.15 earnings per share. On average, research analysts expect that Consolidated Edison, Inc. will post 5.62 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders 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 dividend yield of 3.26%. Consolidated Edison’s dividend payout ratio (DPR) is presently 62.85%.

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.