Kestra Private Wealth Services LLC Grows Position in Consolidated Edison, Inc. (NYSE:ED)

Kestra Private Wealth Services LLC grew its stake in Consolidated Edison, Inc. (NYSE:ED) by 17.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,394 shares of the utilities provider’s stock after purchasing an additional 1,514 shares during the period. Kestra Private Wealth Services LLC’s holdings in Consolidated Edison were worth $927,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Capital Performance Advisors LLP purchased a new position in shares of Consolidated Edison during the 3rd quarter valued at approximately $27,000. AlphaMark Advisors LLC purchased a new position in shares of Consolidated Edison during the 4th quarter valued at approximately $27,000. Ashton Thomas Securities LLC purchased a new position in shares of Consolidated Edison during the 3rd quarter valued at approximately $30,000. CGC Financial Services LLC lifted its position in shares of Consolidated Edison by 64.0% during the 4th quarter. CGC Financial Services LLC now owns 546 shares of the utilities provider’s stock valued at $49,000 after buying an additional 213 shares in the last quarter. Finally, FSA Wealth Management LLC purchased a new position in shares of Consolidated Edison during the 3rd quarter valued at approximately $55,000. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Evercore ISI lowered Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 21st. Morgan Stanley decreased their target price on Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating on the stock in a research report on Friday, November 22nd. Scotiabank upgraded Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and increased their target price for the company from $90.00 to $100.00 in a research report on Thursday, December 12th. Mizuho raised their price objective on Consolidated Edison from $92.00 to $95.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Finally, Barclays decreased their price objective on Consolidated Edison from $99.00 to $92.00 and set an “underweight” rating on the stock in a report on Monday, January 27th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $100.00.

Consolidated Edison Stock Up 1.2 %

Shares of ED opened at $95.75 on Friday. Consolidated Edison, Inc. has a 52-week low of $85.85 and a 52-week high of $107.75. The company has a market capitalization of $33.17 billion, a PE ratio of 18.03, a price-to-earnings-growth ratio of 3.04 and a beta of 0.39. The stock has a fifty day simple moving average of $91.85 and a two-hundred day simple moving average of $98.16. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07.

Consolidated Edison Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th will be paid a $0.85 dividend. The ex-dividend date of this dividend is Wednesday, February 19th. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.83. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.55%. Consolidated Edison’s dividend payout ratio (DPR) is 62.52%.

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.