Orion Portfolio Solutions LLC Has $671,000 Stock Position in Consolidated Edison, Inc. (NYSE:ED)

Orion Portfolio Solutions LLC boosted its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 22.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,516 shares of the utilities provider’s stock after purchasing an additional 1,366 shares during the period. Orion Portfolio Solutions LLC’s holdings in Consolidated Edison were worth $671,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the stock. Wilmington Savings Fund Society FSB bought a new position in shares of Consolidated Edison in the third quarter valued at $776,000. JPMorgan Chase & Co. grew its position in shares of Consolidated Edison by 4.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,145,128 shares of the utilities provider’s stock valued at $223,373,000 after acquiring an additional 82,985 shares during the period. Hennessy Advisors Inc. increased its stake in shares of Consolidated Edison by 2.8% during the 4th quarter. Hennessy Advisors Inc. now owns 143,136 shares of the utilities provider’s stock worth $12,772,000 after purchasing an additional 3,900 shares during the last quarter. Gateway Investment Advisers LLC raised its holdings in shares of Consolidated Edison by 102.7% in the 4th quarter. Gateway Investment Advisers LLC now owns 430,279 shares of the utilities provider’s stock valued at $38,394,000 after purchasing an additional 217,981 shares during the period. Finally, Jones Financial Companies Lllp lifted its stake in Consolidated Edison by 81.4% in the 4th quarter. Jones Financial Companies Lllp now owns 9,921 shares of the utilities provider’s stock valued at $885,000 after purchasing an additional 4,451 shares during the last quarter. 66.29% of the stock is currently owned by institutional investors.

Consolidated Edison Price Performance

Shares of Consolidated Edison stock opened at $109.53 on Monday. The company has a 50-day simple moving average of $101.43 and a two-hundred day simple moving average of $98.70. Consolidated Edison, Inc. has a twelve month low of $87.28 and a twelve month high of $114.87. The stock has a market capitalization of $39.45 billion, a price-to-earnings ratio of 20.90, a price-to-earnings-growth ratio of 3.05 and a beta of 0.27. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07.

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

Consolidated Edison Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Wednesday, February 19th were given a $0.85 dividend. The ex-dividend date was Wednesday, February 19th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.10%. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.83. Consolidated Edison’s dividend payout ratio (DPR) is presently 64.89%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on ED shares. Mizuho boosted their price target on Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Morgan Stanley boosted their target price on Consolidated Edison from $85.00 to $91.00 and gave the stock an “underweight” rating in a report on Thursday, March 20th. Barclays raised their price target on Consolidated Edison from $92.00 to $95.00 and gave the company an “underweight” rating in a report on Monday, February 24th. Scotiabank upped their price objective on shares of Consolidated Edison from $100.00 to $101.00 and gave the company a “sector perform” rating in a report on Monday, February 24th. Finally, UBS Group raised their target price on shares of Consolidated Edison from $110.00 to $113.00 and gave the stock a “neutral” rating in a research note on Friday, March 21st. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $102.40.

About Consolidated Edison

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.