Consolidated Edison, Inc. (NYSE:ED) Shares Acquired by Checchi Capital Advisers LLC

Checchi Capital Advisers LLC boosted its holdings in shares of Consolidated Edison, Inc. (NYSE:ED) by 3.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,757 shares of the utilities provider’s stock after purchasing an additional 208 shares during the quarter. Checchi Capital Advisers LLC’s holdings in Consolidated Edison were worth $514,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of ED. Capital Performance Advisors LLP purchased a new stake in Consolidated Edison during the 3rd quarter worth approximately $27,000. AlphaMark Advisors LLC purchased a new stake in Consolidated Edison during the 4th quarter worth approximately $27,000. Ashton Thomas Securities LLC purchased a new stake in Consolidated Edison during the 3rd quarter worth approximately $30,000. Centricity Wealth Management LLC purchased a new stake in Consolidated Edison during the 4th quarter worth approximately $39,000. Finally, CGC Financial Services LLC increased its holdings in Consolidated Edison by 64.0% during the 4th quarter. CGC Financial Services LLC now owns 546 shares of the utilities provider’s stock worth $49,000 after purchasing an additional 213 shares during the last quarter. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on ED shares. Evercore ISI downgraded Consolidated Edison from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 21st. Mizuho boosted their price target on Consolidated Edison from $92.00 to $95.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Barclays boosted their price target on Consolidated Edison from $92.00 to $95.00 and gave the company an “underweight” rating in a report on Monday. Scotiabank boosted their price target on Consolidated Edison from $100.00 to $101.00 and gave the company a “sector perform” rating in a report on Monday. Finally, UBS Group boosted their price target on Consolidated Edison from $105.00 to $110.00 and gave the company a “neutral” rating in a report on Tuesday. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $101.50.

Consolidated Edison Price Performance

Shares of ED opened at $99.92 on Thursday. The company has a market cap of $34.61 billion, a P/E ratio of 19.07, a PEG ratio of 3.05 and a beta of 0.39. The stock has a fifty day moving average price of $92.68 and a 200 day moving average price of $97.97. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93. Consolidated Edison, Inc. has a 12 month low of $85.85 and a 12 month high of $107.75.

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

Consolidated Edison Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Wednesday, February 19th will be paid a dividend of $0.85 per share. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.83. This represents a $3.40 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date is Wednesday, February 19th. Consolidated Edison’s dividend payout ratio is presently 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.