Sequoia Financial Advisors LLC Acquires 961 Shares of Consolidated Edison, Inc. (NYSE:ED)

Sequoia Financial Advisors LLC boosted its holdings in shares of Consolidated Edison, Inc. (NYSE:ED) by 7.7% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 13,496 shares of the utilities provider’s stock after acquiring an additional 961 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Consolidated Edison were worth $1,204,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of ED. HighTower Advisors LLC lifted its position in shares of Consolidated Edison by 7.1% during the fourth quarter. HighTower Advisors LLC now owns 141,412 shares of the utilities provider’s stock valued at $12,618,000 after buying an additional 9,416 shares during the last quarter. Windle Wealth LLC raised its stake in shares of Consolidated Edison by 5.0% during the 4th quarter. Windle Wealth LLC now owns 72,568 shares of the utilities provider’s stock worth $6,475,000 after acquiring an additional 3,443 shares in the last quarter. Fairway Wealth LLC purchased a new stake in Consolidated Edison during the fourth quarter valued at approximately $36,000. Citizens Financial Group Inc. RI boosted its stake in Consolidated Edison by 25.4% in the fourth quarter. Citizens Financial Group Inc. RI now owns 9,968 shares of the utilities provider’s stock valued at $889,000 after acquiring an additional 2,021 shares in the last quarter. Finally, Independent Advisor Alliance boosted its stake in Consolidated Edison by 18.9% in the fourth quarter. Independent Advisor Alliance now owns 26,907 shares of the utilities provider’s stock valued at $2,401,000 after acquiring an additional 4,268 shares in the last quarter. Institutional investors own 66.29% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the company. Evercore ISI lowered Consolidated Edison from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 21st. Mizuho increased their price target on Consolidated Edison from $92.00 to $95.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Scotiabank raised their price target on Consolidated Edison from $100.00 to $101.00 and gave the stock a “sector perform” rating in a report on Monday, February 24th. Barclays upped their price objective 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. Finally, UBS Group boosted their target price on shares of Consolidated Edison from $105.00 to $110.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 25th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Consolidated Edison currently has an average rating of “Hold” and an average price target of $101.50.

Consolidated Edison Stock Performance

Shares of ED stock opened at $106.60 on Friday. Consolidated Edison, Inc. has a 52-week low of $87.16 and a 52-week high of $107.97. 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 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. The business has a 50-day simple moving average of $95.96 and a 200-day simple moving average of $98.18.

Consolidated Edison (NYSE:ED) last released its quarterly earnings data on Thursday, February 20th. The utilities provider reported $0.98 EPS for the quarter, topping the consensus estimate of $0.97 by $0.01. The business had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.63 billion. Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. On average, equities analysts expect that Consolidated Edison, Inc. will post 5.62 EPS for the current year.

Consolidated Edison Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Wednesday, February 19th were given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 3.19%. The ex-dividend date was Wednesday, February 19th. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.83. Consolidated Edison’s dividend payout ratio (DPR) is currently 64.89%.

Consolidated Edison 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.