RD Lewis Holdings Inc. Takes Position in Consolidated Edison, Inc. (NYSE:ED)

RD Lewis Holdings Inc. bought a new position in shares of Consolidated Edison, Inc. (NYSE:ED) in the fourth quarter, HoldingsChannel reports. The firm bought 14,703 shares of the utilities provider’s stock, valued at approximately $1,413,000. Consolidated Edison accounts for approximately 1.6% of RD Lewis Holdings Inc.’s investment portfolio, making the stock its 22nd biggest position.

A number of other large investors have also bought and sold shares of the business. Flagship Wealth Advisors LLC acquired a new stake in shares of Consolidated Edison in the 4th quarter valued at about $196,000. Signaturefd LLC boosted its position in shares of Consolidated Edison by 8.1% during the fourth quarter. Signaturefd LLC now owns 13,128 shares of the utilities provider’s stock worth $1,171,000 after buying an additional 982 shares during the period. Parallel Advisors LLC grew its holdings in shares of Consolidated Edison by 25.9% during the fourth quarter. Parallel Advisors LLC now owns 11,328 shares of the utilities provider’s stock worth $1,011,000 after buying an additional 2,332 shares in the last quarter. Cibc World Markets Corp raised its position in Consolidated Edison by 16.4% in the 4th quarter. Cibc World Markets Corp now owns 54,666 shares of the utilities provider’s stock valued at $4,878,000 after buying an additional 7,711 shares during the last quarter. Finally, Creative Financial Designs Inc. ADV lifted its stake in Consolidated Edison by 2.2% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 8,246 shares of the utilities provider’s stock valued at $736,000 after acquiring an additional 175 shares in the last quarter. 66.29% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. UBS Group raised their price target on shares of Consolidated Edison from $105.00 to $110.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 25th. Morgan Stanley decreased their target price on shares of Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating for the company in a research report on Friday, November 22nd. Mizuho boosted their price target on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Barclays raised their price objective on Consolidated Edison from $92.00 to $95.00 and gave the company an “underweight” rating in a report on Monday, February 24th. Finally, Evercore ISI lowered Consolidated Edison from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 21st. Two equities research 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 stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $101.50.

Consolidated Edison Trading Up 1.3 %

Shares of NYSE:ED opened at $107.74 on Tuesday. Consolidated Edison, Inc. has a 52-week low of $87.16 and a 52-week high of $110.01. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01. The company has a market capitalization of $37.36 billion, a P/E ratio of 20.56, a price-to-earnings-growth ratio of 3.05 and a beta of 0.30. The company has a 50-day simple moving average of $96.35 and a 200 day simple moving average of $98.21.

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 analysts’ consensus estimates of $0.97 by $0.01. Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. The company had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.63 billion. Sell-side analysts forecast that Consolidated Edison, Inc. will post 5.62 earnings per share for the current year.

Consolidated Edison Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th were given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 3.16%. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend was Wednesday, February 19th. Consolidated Edison’s payout ratio is 64.89%.

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.