Consolidated Edison, Inc. (NYSE:ED) Stock Holdings Boosted by Principal Securities Inc.

Principal Securities Inc. lifted its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 16.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,480 shares of the utilities provider’s stock after acquiring an additional 892 shares during the quarter. Principal Securities Inc.’s holdings in Consolidated Edison were worth $578,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Capital Performance Advisors LLP bought a new stake in shares of Consolidated Edison during the 3rd quarter worth $27,000. Ashton Thomas Securities LLC bought a new stake in shares of Consolidated Edison during the 3rd quarter worth $30,000. AlphaMark Advisors LLC bought a new stake in shares of Consolidated Edison during the 4th quarter worth $27,000. FSA Wealth Management LLC bought a new stake in shares of Consolidated Edison during the 3rd quarter worth $55,000. Finally, CGC Financial Services LLC boosted its stake in shares of 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 acquiring an additional 213 shares in the last quarter. 66.29% of the stock is owned by institutional investors.

Consolidated Edison Price Performance

Shares of NYSE:ED opened at $98.27 on Friday. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.07. Consolidated Edison, Inc. has a 1 year low of $85.85 and a 1 year high of $107.75. The business has a fifty day simple moving average of $92.09 and a 200 day simple moving average of $98.00. The firm has a market cap of $34.04 billion, a price-to-earnings ratio of 18.51, a P/E/G ratio of 3.04 and a beta of 0.39.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings data 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 return on equity of 8.70% and a net margin of 12.27%. The business had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.63 billion. As a group, sell-side analysts predict that Consolidated Edison, Inc. will post 5.35 earnings per share for the current fiscal year.

Consolidated Edison Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Wednesday, February 19th will be issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 3.46%. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.83. The ex-dividend date is Wednesday, February 19th. Consolidated Edison’s dividend payout ratio (DPR) is currently 64.03%.

Wall Street Analyst Weigh In

ED has been the subject of several research reports. Mizuho raised their price objective on Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Morgan Stanley reduced their price objective on Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating for the company in a research note on Friday, November 22nd. Scotiabank upgraded Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and increased their target price for the company from $90.00 to $100.00 in a report on Thursday, December 12th. Evercore ISI lowered Consolidated Edison from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 21st. Finally, Barclays reduced their target price on Consolidated Edison from $99.00 to $92.00 and set an “underweight” rating for the company in a report on Monday, January 27th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $100.70.

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.