Jones Financial Companies Lllp Purchases 4,451 Shares of Consolidated Edison, Inc. (NYSE:ED)

Jones Financial Companies Lllp increased its position in shares of Consolidated Edison, Inc. (NYSE:ED) by 81.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,921 shares of the utilities provider’s stock after acquiring an additional 4,451 shares during the quarter. Jones Financial Companies Lllp’s holdings in Consolidated Edison were worth $885,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of ED. Capital Performance Advisors LLP bought a new position in Consolidated Edison during the 3rd quarter worth approximately $27,000. AlphaMark Advisors LLC bought a new position in Consolidated Edison during the 4th quarter worth approximately $27,000. Ashton Thomas Securities LLC bought a new position in Consolidated Edison in the third quarter valued at approximately $30,000. Centricity Wealth Management LLC bought a new position in Consolidated Edison in the fourth quarter valued at approximately $39,000. Finally, CGC Financial Services LLC lifted its stake in Consolidated Edison by 64.0% in the fourth quarter. CGC Financial Services LLC now owns 546 shares of the utilities provider’s stock valued at $49,000 after buying an additional 213 shares in the last quarter. Institutional investors own 66.29% of the company’s stock.

Analysts Set New Price Targets

ED has been the topic of a number of research reports. Evercore ISI lowered shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 21st. Scotiabank lifted their price target on shares of Consolidated Edison from $100.00 to $101.00 and gave the company a “sector perform” rating in a research note on Monday, February 24th. Morgan Stanley cut their price target on shares of Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating on the stock in a research note on Friday, November 22nd. UBS Group lifted their price target on shares of Consolidated Edison from $105.00 to $110.00 and gave the company a “neutral” rating in a research note on Tuesday, February 25th. Finally, Mizuho lifted their price target on shares of Consolidated Edison from $92.00 to $95.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $101.50.

Consolidated Edison Stock Performance

Shares of ED stock opened at $103.73 on Friday. The company’s fifty day simple moving average is $94.39 and its 200-day simple moving average is $98.03. 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 firm has a market cap of $35.97 billion, a PE ratio of 19.80, a P/E/G ratio of 3.05 and a beta of 0.30. Consolidated Edison, Inc. has a 12 month low of $87.16 and a 12 month high of $107.75.

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

Consolidated Edison Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th will be given a dividend of $0.85 per share. 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 3.28%. The ex-dividend date of this dividend is Wednesday, February 19th. Consolidated Edison’s dividend payout ratio is 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.