Jacobi Capital Management LLC Has $229,000 Stock Holdings in Consolidated Edison, Inc. (NYSE:ED)

Jacobi Capital Management LLC grew its stake in Consolidated Edison, Inc. (NYSE:ED) by 4.2% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,569 shares of the utilities provider’s stock after buying an additional 104 shares during the period. Jacobi Capital Management LLC’s holdings in Consolidated Edison were worth $229,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in ED. Capital Performance Advisors LLP acquired a new stake in Consolidated Edison during the third quarter worth approximately $27,000. AlphaMark Advisors LLC acquired a new stake in Consolidated Edison during the fourth quarter worth approximately $27,000. Ashton Thomas Securities LLC acquired a new stake in Consolidated Edison during the third quarter worth approximately $30,000. Centricity Wealth Management LLC bought a new position in Consolidated Edison in the fourth quarter worth approximately $39,000. Finally, CGC Financial Services LLC boosted its holdings in Consolidated Edison by 64.0% in the fourth quarter. CGC Financial Services LLC now owns 546 shares of the utilities provider’s stock worth $49,000 after acquiring an additional 213 shares in the last quarter. Institutional investors and hedge funds own 66.29% of the company’s stock.

Wall Street Analyst Weigh In

ED has been the topic of several recent research reports. Scotiabank increased their price target on Consolidated Edison from $100.00 to $101.00 and gave the stock a “sector perform” rating in a report on Monday, February 24th. Morgan Stanley cut their price target on Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating on the stock in a report on Friday, November 22nd. Barclays increased their price target on Consolidated Edison from $92.00 to $95.00 and gave the stock an “underweight” rating in a report on Monday, February 24th. UBS Group increased their price target on Consolidated Edison from $105.00 to $110.00 and gave the stock a “neutral” rating in a report on Tuesday, February 25th. Finally, Evercore ISI lowered 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 given a buy rating and one has issued a strong buy rating to the 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 Stock Performance

Shares of Consolidated Edison stock opened at $104.09 on Tuesday. The business’s fifty day simple moving average is $93.42 and its 200 day simple moving average is $97.97. The firm has a market capitalization of $36.09 billion, a P/E ratio of 19.86, a price-to-earnings-growth ratio of 3.05 and a beta of 0.39. Consolidated Edison, Inc. has a 12 month low of $86.56 and a 12 month high of $107.75. 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 (NYSE:ED) last issued its quarterly earnings results on Thursday, February 20th. The utilities provider reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.01. The business had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.63 billion. Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. As a group, 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 will be paid on Friday, March 14th. Investors of record on Wednesday, February 19th will be issued a dividend of $0.85 per share. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.83. This represents a $3.40 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date is Wednesday, February 19th. Consolidated Edison’s dividend payout ratio (DPR) is 64.89%.

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.