Consolidated Edison, Inc. (NYSE:ED) Shares Bought by LPL Financial LLC

LPL Financial LLC boosted its position in Consolidated Edison, Inc. (NYSE:ED) by 8.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 683,600 shares of the utilities provider’s stock after purchasing an additional 54,329 shares during the period. LPL Financial LLC’s holdings in Consolidated Edison were worth $60,998,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. AlphaMark Advisors LLC purchased a new stake in shares of Consolidated Edison in the 4th quarter valued at approximately $27,000. Fairway Wealth LLC bought a new position in shares of Consolidated Edison during the 4th quarter valued at $36,000. OFI Invest Asset Management acquired a new position in Consolidated Edison during the fourth quarter worth $35,000. Centricity Wealth Management LLC acquired a new position in shares of Consolidated Edison during the 4th quarter valued at about $39,000. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Consolidated Edison in the 4th quarter valued at approximately $44,000. Institutional investors own 66.29% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on ED shares. Morgan Stanley boosted their target price on shares of Consolidated Edison from $85.00 to $91.00 and gave the stock an “underweight” rating in a research report on Thursday, March 20th. Scotiabank raised 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 upped their price objective on shares of Consolidated Edison from $110.00 to $113.00 and gave the company a “neutral” rating in a research report on Friday, March 21st. Mizuho boosted their price objective on Consolidated Edison from $92.00 to $95.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Finally, Barclays boosted 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. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $102.40.

Consolidated Edison Stock Up 1.8 %

Consolidated Edison stock opened at $107.41 on Thursday. The company’s 50 day simple moving average is $98.95 and its 200 day simple moving average is $98.46. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93. The firm has a market capitalization of $37.25 billion, a price-to-earnings ratio of 20.50, a PEG ratio of 3.05 and a beta of 0.30. Consolidated Edison, Inc. has a fifty-two week low of $87.28 and a fifty-two week high of $109.36.

Consolidated Edison (NYSE:ED) last posted its earnings results on Thursday, February 20th. The utilities provider reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.01. Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. The firm had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.63 billion. As a group, sell-side analysts anticipate that Consolidated Edison, Inc. will post 5.62 EPS for the current year.

Consolidated Edison Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Wednesday, February 19th were given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.17%. 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 payout ratio is currently 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.