Jacobi Capital Management LLC Has $229,000 Stock Holdings in Consolidated Edison, Inc. (NYSE:ED)

Jacobi Capital Management LLC raised its position in Consolidated Edison, Inc. (NYSE:ED) by 4.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,569 shares of the utilities provider’s stock after buying an additional 104 shares during the quarter. Jacobi Capital Management LLC’s holdings in Consolidated Edison were worth $229,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ED. Metis Global Partners LLC lifted its position in shares of Consolidated Edison by 5.8% during the 4th quarter. Metis Global Partners LLC now owns 29,534 shares of the utilities provider’s stock valued at $2,635,000 after acquiring an additional 1,628 shares during the period. Flputnam Investment Management Co. lifted its position in shares of Consolidated Edison by 5.1% during the 4th quarter. Flputnam Investment Management Co. now owns 19,375 shares of the utilities provider’s stock valued at $1,729,000 after acquiring an additional 944 shares during the period. Versor Investments LP bought a new stake in shares of Consolidated Edison during the 4th quarter valued at $1,131,000. Proficio Capital Partners LLC bought a new stake in shares of Consolidated Edison during the 4th quarter valued at $10,371,000. Finally, Oppenheimer & Co. Inc. lifted its position in shares of Consolidated Edison by 3.4% during the 4th quarter. Oppenheimer & Co. Inc. now owns 22,932 shares of the utilities provider’s stock valued at $2,046,000 after acquiring an additional 758 shares during the period. 66.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ED has been the subject of a number of recent analyst reports. UBS Group upped their target price on Consolidated Edison from $105.00 to $110.00 and gave the company a “neutral” rating in a research report on Tuesday, February 25th. Barclays upped their target price on Consolidated Edison from $92.00 to $95.00 and gave the company an “underweight” rating in a research report on Monday, February 24th. Mizuho upped their price objective on Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Morgan Stanley dropped their price objective on Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating for the company in a research report on Friday, November 22nd. Finally, Scotiabank upped their price objective on Consolidated Edison from $100.00 to $101.00 and gave the stock a “sector perform” rating in a research report on Monday, February 24th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $101.50.

Consolidated Edison Price Performance

Shares of ED opened at $104.09 on Tuesday. Consolidated Edison, Inc. has a 12-month low of $86.56 and a 12-month high of $107.75. The business has a 50-day simple moving average of $93.42 and a two-hundred day simple moving average of $97.97. 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 $36.09 billion, a PE ratio of 19.86, a PEG ratio of 3.05 and a beta of 0.39.

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. Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. The business had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.63 billion. Analysts anticipate that Consolidated Edison, Inc. will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th will be issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date is Wednesday, February 19th. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.83. Consolidated Edison’s dividend payout ratio is presently 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.