RD Lewis Holdings Inc. Invests $1.41 Million in Consolidated Edison, Inc. (NYSE:ED)

RD Lewis Holdings Inc. purchased a new stake in shares of Consolidated Edison, Inc. (NYSE:ED) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 14,703 shares of the utilities provider’s stock, valued at approximately $1,413,000. Consolidated Edison comprises about 1.6% of RD Lewis Holdings Inc.’s investment portfolio, making the stock its 22nd largest position.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. AlphaMark Advisors LLC bought a new position in shares of Consolidated Edison in the fourth quarter valued at approximately $27,000. Fairway Wealth LLC acquired a new stake in Consolidated Edison during the 4th quarter valued at $36,000. OFI Invest Asset Management bought a new position in Consolidated Edison in the 4th quarter valued at $35,000. Centricity Wealth Management LLC acquired a new position in Consolidated Edison in the fourth quarter worth $39,000. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of Consolidated Edison during the fourth quarter worth $44,000. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Consolidated Edison Stock Up 1.3 %

NYSE:ED opened at $107.74 on Tuesday. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07. Consolidated Edison, Inc. has a 12-month low of $87.16 and a 12-month high of $110.01. The stock’s fifty day simple moving average is $96.35 and its 200-day simple moving average is $98.21. The firm has a market capitalization of $37.36 billion, a P/E ratio of 20.56, a P/E/G ratio of 3.05 and a beta of 0.30.

Consolidated Edison (NYSE:ED) last issued its earnings results on Thursday, February 20th. The utilities provider reported $0.98 earnings per share (EPS) for the quarter, topping 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 return on equity of 8.62% and a net margin of 11.93%. Equities research analysts expect that Consolidated Edison, Inc. will post 5.62 earnings per share for the current year.

Consolidated Edison Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th were issued a $0.85 dividend. The ex-dividend date was Wednesday, February 19th. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.83. This represents a $3.40 annualized dividend and a yield of 3.16%. Consolidated Edison’s dividend payout ratio (DPR) is 64.89%.

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.