Venturi Wealth Management LLC Has $428,000 Stock Position in Consolidated Edison, Inc. (NYSE:ED)

Venturi Wealth Management LLC raised its holdings in Consolidated Edison, Inc. (NYSE:ED) by 613.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,793 shares of the utilities provider’s stock after buying an additional 4,121 shares during the quarter. Venturi Wealth Management LLC’s holdings in Consolidated Edison were worth $428,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. TD Private Client Wealth LLC raised its position in Consolidated Edison by 4.7% in the 3rd quarter. TD Private Client Wealth LLC now owns 2,334 shares of the utilities provider’s stock valued at $243,000 after purchasing an additional 104 shares during the last quarter. D.A. Davidson & CO. raised its position in Consolidated Edison by 1.1% in the 3rd quarter. D.A. Davidson & CO. now owns 11,142 shares of the utilities provider’s stock valued at $1,160,000 after purchasing an additional 124 shares during the last quarter. Townsquare Capital LLC raised its position in Consolidated Edison by 2.4% in the 3rd quarter. Townsquare Capital LLC now owns 5,574 shares of the utilities provider’s stock valued at $580,000 after purchasing an additional 130 shares during the last quarter. Trust Point Inc. raised its position in shares of Consolidated Edison by 4.9% during the fourth quarter. Trust Point Inc. now owns 2,790 shares of the utilities provider’s stock worth $249,000 after acquiring an additional 131 shares during the last quarter. Finally, Cooper Financial Group raised its position in shares of Consolidated Edison by 5.1% during the fourth quarter. Cooper Financial Group now owns 2,799 shares of the utilities provider’s stock worth $250,000 after acquiring an additional 136 shares during the last quarter. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Stock Down 0.6 %

NYSE:ED opened at $95.17 on Thursday. Consolidated Edison, Inc. has a 1 year low of $85.85 and a 1 year 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. The stock has a market cap of $32.97 billion, a price-to-earnings ratio of 17.92, a PEG ratio of 3.02 and a beta of 0.39. The stock has a 50-day moving average price of $91.91 and a two-hundred day moving average price of $98.03.

Consolidated Edison Increases Dividend

The firm 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. This represents a $3.40 dividend on an annualized basis and a yield of 3.57%. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.83. The ex-dividend date is Wednesday, February 19th. Consolidated Edison’s payout ratio is presently 62.52%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on ED shares. Barclays dropped their target price on Consolidated Edison from $99.00 to $92.00 and set an “underweight” rating for the company in a research report on Monday, January 27th. Scotiabank upgraded Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and boosted their target price for the stock from $90.00 to $100.00 in a research report on Thursday, December 12th. Mizuho boosted their target price on Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Evercore ISI downgraded Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 21st. Finally, Morgan Stanley dropped their target price on Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating for the company in a research report on Friday, November 22nd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $100.70.

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.