PFG Investments LLC Buys 172 Shares of Consolidated Edison, Inc. (NYSE:ED)

PFG Investments LLC boosted its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 0.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 64,246 shares of the utilities provider’s stock after purchasing an additional 172 shares during the period. PFG Investments LLC’s holdings in Consolidated Edison were worth $5,733,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ED. Capital Performance Advisors LLP bought a new position in Consolidated Edison in the third quarter worth approximately $27,000. AlphaMark Advisors LLC bought a new position in Consolidated Edison in the fourth quarter worth approximately $27,000. Ashton Thomas Securities LLC bought a new position in Consolidated Edison in the third quarter worth approximately $30,000. Future Financial Wealth Managment LLC bought a new position in Consolidated Edison in the third quarter worth approximately $55,000. Finally, FSA Wealth Management LLC bought a new stake in shares of Consolidated Edison during the 3rd quarter valued at $55,000. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Stock Performance

Consolidated Edison stock opened at $90.66 on Monday. The company’s 50-day moving average price is $92.88 and its 200-day moving average price is $98.01. Consolidated Edison, Inc. has a twelve month low of $85.85 and a twelve month high of $107.75. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07. The company has a market cap of $31.41 billion, a PE ratio of 17.07, a price-to-earnings-growth ratio of 2.89 and a beta of 0.38.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Thursday, November 7th. The utilities provider reported $1.68 EPS for the quarter, beating the consensus estimate of $1.56 by $0.12. The company had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $4.02 billion. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.70%. On average, equities research analysts forecast that Consolidated Edison, Inc. will post 5.35 EPS for the current fiscal year.

Consolidated Edison Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th will be given a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 3.75%. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend is Wednesday, February 19th. Consolidated Edison’s payout ratio is 62.52%.

Analyst Ratings Changes

Several brokerages have recently commented on ED. Jefferies Financial Group began coverage on shares of Consolidated Edison in a research report on Wednesday, October 9th. They set a “hold” rating and a $108.00 price objective on the stock. Scotiabank upgraded shares of Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and raised their price objective for the company from $90.00 to $100.00 in a research report on Thursday, December 12th. Evercore ISI downgraded shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 21st. Citigroup upgraded shares of Consolidated Edison from a “neutral” rating to a “buy” rating and raised their price objective for the company from $103.00 to $116.00 in a research report on Tuesday, October 15th. Finally, Barclays decreased their price objective on shares of Consolidated Edison from $104.00 to $99.00 and set an “underweight” rating on the stock in a research report on Friday, November 8th. Two equities research analysts have rated the stock with a sell rating, eight have assigned 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 an average rating of “Hold” and an average price target of $100.64.

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.