Forte Capital LLC ADV Buys 527 Shares of Consolidated Edison, Inc. (NYSE:ED)

Forte Capital LLC ADV raised its stake in Consolidated Edison, Inc. (NYSE:ED) by 2.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 22,387 shares of the utilities provider’s stock after acquiring an additional 527 shares during the period. Forte Capital LLC ADV’s holdings in Consolidated Edison were worth $1,998,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Capital Performance Advisors LLP bought a new stake in shares of Consolidated Edison in the 3rd quarter worth about $27,000. AlphaMark Advisors LLC bought a new stake in shares of Consolidated Edison in the 4th quarter worth about $27,000. Ashton Thomas Securities LLC bought a new stake in shares of Consolidated Edison in the 3rd quarter worth about $30,000. CGC Financial Services LLC increased its holdings in shares of Consolidated Edison by 64.0% in the 4th quarter. CGC Financial Services LLC now owns 546 shares of the utilities provider’s stock worth $49,000 after buying an additional 213 shares during the last quarter. Finally, FSA Wealth Management LLC bought a new stake in shares of Consolidated Edison in the 3rd quarter worth about $55,000. 66.29% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ED has been the topic of several analyst reports. Evercore ISI downgraded shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 21st. Barclays cut their price target on shares of Consolidated Edison from $99.00 to $92.00 and set an “underweight” rating on the stock in a report on Monday, January 27th. Scotiabank upgraded shares of Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and upped their price target for the company from $90.00 to $100.00 in a report on Thursday, December 12th. Morgan Stanley cut 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. Finally, 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. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $100.70.

Consolidated Edison Price Performance

Consolidated Edison stock opened at $95.77 on Friday. The stock has a market cap of $33.18 billion, a price-to-earnings ratio of 18.04, a price-to-earnings-growth ratio of 3.05 and a beta of 0.39. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93. Consolidated Edison, Inc. has a 1 year low of $85.85 and a 1 year high of $107.75. The firm has a 50-day moving average of $91.98 and a two-hundred day moving average of $98.02.

Consolidated Edison (NYSE:ED) last released its quarterly earnings data on Thursday, February 20th. The utilities provider reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.01. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.70%. On average, research analysts forecast that Consolidated Edison, Inc. will post 5.35 earnings per share for the current year.

Consolidated Edison Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Wednesday, February 19th will be given a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 3.55%. The ex-dividend date of this dividend is Wednesday, February 19th. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.83. Consolidated Edison’s dividend payout ratio is presently 62.52%.

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.