116,223 Shares in Consolidated Edison, Inc. (NYSE:ED) Purchased by Proficio Capital Partners LLC

Proficio Capital Partners LLC purchased a new position in shares of Consolidated Edison, Inc. (NYSE:ED) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 116,223 shares of the utilities provider’s stock, valued at approximately $10,371,000.

A number of other hedge funds have also bought and sold shares of ED. AlphaMark Advisors LLC bought a new position in Consolidated Edison during the fourth quarter worth about $27,000. Centricity Wealth Management LLC bought a new position in Consolidated Edison during the fourth quarter worth about $39,000. CGC Financial Services LLC grew its stake in Consolidated Edison by 64.0% during the fourth quarter. CGC Financial Services LLC now owns 546 shares of the utilities provider’s stock worth $49,000 after buying an additional 213 shares in the last quarter. FSA Wealth Management LLC acquired a new stake in Consolidated Edison during the third quarter worth about $55,000. Finally, True Wealth Design LLC grew its stake in Consolidated Edison by 4,983.3% during the third quarter. True Wealth Design LLC now owns 610 shares of the utilities provider’s stock worth $64,000 after buying an additional 598 shares in the last quarter. 66.29% of the stock is owned by institutional investors.

Consolidated Edison Stock Up 1.9 %

NYSE:ED opened at $106.60 on Friday. The firm’s 50 day simple moving average is $95.96 and its 200 day simple moving average is $98.18. 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 one year low of $87.16 and a one year high of $107.97. The company has a market cap of $36.97 billion, a PE ratio of 20.34, a P/E/G ratio of 3.05 and a beta of 0.30.

Consolidated Edison (NYSE:ED) last posted its earnings results on Thursday, February 20th. The utilities provider reported $0.98 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 business had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.63 billion. On average, research analysts anticipate that Consolidated Edison, Inc. will post 5.62 earnings per share for the current year.

Consolidated Edison Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Wednesday, February 19th were given a dividend of $0.85 per share. The ex-dividend date of this dividend was Wednesday, February 19th. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.83. This represents a $3.40 annualized dividend and a yield of 3.19%. Consolidated Edison’s dividend payout ratio (DPR) is currently 64.89%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on ED shares. Evercore ISI downgraded shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 21st. Mizuho increased their price objective on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Scotiabank increased their price objective on shares of Consolidated Edison from $100.00 to $101.00 and gave the stock a “sector perform” rating in a research note on Monday, February 24th. Barclays raised their price target on shares of Consolidated Edison from $92.00 to $95.00 and gave the company an “underweight” rating in a research note on Monday, February 24th. Finally, UBS Group raised 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. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $101.50.

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.