Gitterman Wealth Management LLC Purchases 3,274 Shares of Consolidated Edison, Inc. (NYSE:ED)

Gitterman Wealth Management LLC raised its position in Consolidated Edison, Inc. (NYSE:ED) by 149.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,472 shares of the utilities provider’s stock after buying an additional 3,274 shares during the quarter. Gitterman Wealth Management LLC’s holdings in Consolidated Edison were worth $488,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of ED. Point72 Asset Management L.P. increased its holdings in Consolidated Edison by 1,766.0% in the 3rd quarter. Point72 Asset Management L.P. now owns 988,961 shares of the utilities provider’s stock valued at $102,980,000 after buying an additional 935,962 shares during the period. Burkehill Global Management LP bought a new position in Consolidated Edison in the 4th quarter valued at about $53,538,000. FMR LLC increased its holdings in Consolidated Edison by 82.3% in the 3rd quarter. FMR LLC now owns 1,268,424 shares of the utilities provider’s stock valued at $132,081,000 after buying an additional 572,530 shares during the period. National Bank of Canada FI increased its holdings in Consolidated Edison by 350.6% in the 3rd quarter. National Bank of Canada FI now owns 620,705 shares of the utilities provider’s stock valued at $64,634,000 after buying an additional 482,953 shares during the period. Finally, Jupiter Asset Management Ltd. bought a new stake in shares of Consolidated Edison during the 4th quarter valued at approximately $42,916,000. 66.29% of the stock is owned by institutional investors.

Consolidated Edison Stock Up 1.9 %

Consolidated Edison stock opened at $106.60 on Friday. 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 stock has a market cap of $36.97 billion, a PE ratio of 20.34, a price-to-earnings-growth ratio of 3.05 and a beta of 0.30. Consolidated Edison, Inc. has a fifty-two week low of $87.16 and a fifty-two week high of $107.97. The firm’s 50-day simple moving average is $95.96 and its 200 day simple moving average is $98.18.

Consolidated Edison (NYSE:ED) last released its earnings results on Thursday, February 20th. The utilities provider reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.01. The firm had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.63 billion. Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. Research analysts predict that Consolidated Edison, Inc. will post 5.62 EPS for the current fiscal year.

Consolidated Edison Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th were paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 3.19%. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.83. The ex-dividend date was Wednesday, February 19th. Consolidated Edison’s payout ratio is presently 64.89%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on ED shares. Barclays lifted their price target on shares of Consolidated Edison from $92.00 to $95.00 and gave the company an “underweight” rating in a report on Monday, February 24th. Scotiabank boosted their price target on shares of Consolidated Edison from $100.00 to $101.00 and gave the stock a “sector perform” rating in a research report on Monday, February 24th. UBS Group lifted their price objective on shares of Consolidated Edison from $105.00 to $110.00 and gave the company a “neutral” rating in a research note on Tuesday, February 25th. Mizuho lifted 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. Finally, Evercore ISI lowered shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 21st. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $101.50.

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.