Virtu Financial LLC Invests $1.10 Million in Consolidated Edison, Inc. (NYSE:ED)

Virtu Financial LLC acquired a new position in shares of Consolidated Edison, Inc. (NYSE:ED) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 12,314 shares of the utilities provider’s stock, valued at approximately $1,099,000.

Several other large investors also recently modified their holdings of ED. AlphaMark Advisors LLC bought a new position in Consolidated Edison during the fourth quarter worth $27,000. OFI Invest Asset Management bought a new position in Consolidated Edison during the fourth quarter worth $35,000. Fairway Wealth LLC bought a new position in Consolidated Edison during the fourth quarter worth $36,000. Centricity Wealth Management LLC bought a new position in Consolidated Edison during the fourth quarter worth $39,000. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new position in Consolidated Edison during the fourth quarter worth $44,000. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Consolidated Edison Stock Performance

Shares of ED stock opened at $107.85 on Monday. The firm has a 50-day moving average of $97.91 and a 200-day moving average of $98.36. The company has a market cap of $37.40 billion, a P/E ratio of 20.58, a P/E/G ratio of 3.05 and a beta of 0.30. 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 one year low of $87.16 and a one year high of $109.36.

Consolidated Edison (NYSE:ED) last announced its earnings results on Thursday, February 20th. The utilities provider reported $0.98 EPS for the quarter, beating the consensus estimate of $0.97 by $0.01. The company 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%. Equities research analysts forecast that Consolidated Edison, Inc. will post 5.62 EPS for the current fiscal year.

Consolidated Edison Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Wednesday, February 19th were issued a $0.85 dividend. The ex-dividend date was Wednesday, February 19th. This represents a $3.40 annualized dividend and a dividend yield of 3.15%. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.83. Consolidated Edison’s dividend payout ratio is currently 64.89%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ED. UBS Group increased their target price on shares of Consolidated Edison from $110.00 to $113.00 and gave the stock a “neutral” rating in a research note on Friday. Scotiabank raised their price objective on shares of Consolidated Edison from $100.00 to $101.00 and gave the company a “sector perform” rating in a research note on Monday, February 24th. Mizuho raised their price objective on shares of Consolidated Edison from $92.00 to $95.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Evercore ISI lowered shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 21st. Finally, Barclays raised their price objective on shares of Consolidated Edison from $92.00 to $95.00 and gave the company an “underweight” rating in a research note on Monday, February 24th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Consolidated Edison currently has an average rating of “Hold” and a consensus target price of $102.40.

Consolidated Edison Company 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.