Ladenburg Thalmann Financial Services Inc. raised its stake in Consolidated Edison, Inc. (NYSE:ED) by 0.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 112,592 shares of the utilities provider’s stock after purchasing an additional 242 shares during the period. Ladenburg Thalmann Financial Services Inc.’s holdings in Consolidated Edison were worth $10,143,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in ED. Tiedemann Advisors LLC raised its stake in Consolidated Edison by 18.9% in the fourth quarter. Tiedemann Advisors LLC now owns 10,710 shares of the utilities provider’s stock valued at $969,000 after buying an additional 1,700 shares during the last quarter. Point72 Asset Management L.P. boosted its stake in Consolidated Edison by 618.6% in the 4th quarter. Point72 Asset Management L.P. now owns 100,413 shares of the utilities provider’s stock worth $9,084,000 after purchasing an additional 86,439 shares in the last quarter. Captrust Financial Advisors grew its position in Consolidated Edison by 105.2% during the 4th quarter. Captrust Financial Advisors now owns 16,852 shares of the utilities provider’s stock worth $1,497,000 after purchasing an additional 8,638 shares during the last quarter. Orion Portfolio Solutions LLC purchased a new stake in Consolidated Edison during the 4th quarter worth approximately $64,000. Finally, First Republic Investment Management Inc. grew its position in Consolidated Edison by 9.3% during the 4th quarter. First Republic Investment Management Inc. now owns 187,693 shares of the utilities provider’s stock worth $16,981,000 after purchasing an additional 15,998 shares during the last quarter. Institutional investors and hedge funds own 60.44% of the company’s stock.

Several equities research analysts have recently commented on the stock. Citigroup lowered their price objective on shares of Consolidated Edison from $94.00 to $89.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. KeyCorp dropped their price objective on shares of Consolidated Edison from $100.00 to $92.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Bank of America upped their target price on Consolidated Edison from $92.00 to $94.00 and gave the company a “neutral” rating in a research report on Friday, December 20th. UBS Group reduced their target price on Consolidated Edison from $96.00 to $88.00 and set a “neutral” rating for the company in a research note on Monday, March 16th. Finally, Mizuho cut Consolidated Edison from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $98.00 to $91.00 in a research report on Monday, February 24th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $90.56.

Shares of NYSE ED opened at $70.93 on Thursday. The company has a current ratio of 0.68, a quick ratio of 0.62 and a debt-to-equity ratio of 1.06. Consolidated Edison, Inc. has a 12 month low of $62.03 and a 12 month high of $95.10. The company has a 50 day simple moving average of $87.30 and a two-hundred day simple moving average of $89.47. The stock has a market cap of $23.53 billion, a price-to-earnings ratio of 17.43, a PEG ratio of 7.93 and a beta of 0.30.

Consolidated Edison (NYSE:ED) last released its quarterly earnings data on Thursday, February 20th. The utilities provider reported $0.86 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.79 by $0.07. Consolidated Edison had a net margin of 10.69% and a return on equity of 8.02%. The firm had revenue of $2.95 billion for the quarter, compared to analyst estimates of $3.03 billion. Analysts forecast that Consolidated Edison, Inc. will post 4.45 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Wednesday, February 19th were given a dividend of $0.765 per share. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.74. This represents a $3.06 annualized dividend and a yield of 4.31%. The ex-dividend date of this dividend was Tuesday, February 18th. Consolidated Edison’s dividend payout ratio (DPR) is currently 70.02%.

Consolidated Edison Profile

Consolidated Edison, Inc, through its subsidiaries, engages in regulated electric, gas, and steam delivery businesses in the United States. The company offers electric services to approximately 3.5 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 1,622 customers in parts of Manhattan.

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Institutional Ownership by Quarter for Consolidated Edison (NYSE:ED)

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