Evanson Asset Management LLC Buys Shares of 2,200 Consolidated Edison, Inc. (NYSE:ED)

Evanson Asset Management LLC purchased a new stake in Consolidated Edison, Inc. (NYSE:ED) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 2,200 shares of the utilities provider’s stock, valued at approximately $200,000.

Other institutional investors also recently modified their holdings of the company. Diversified Trust Co raised its position in Consolidated Edison by 140.8% during the fourth quarter. Diversified Trust Co now owns 36,950 shares of the utilities provider’s stock worth $3,361,000 after acquiring an additional 21,604 shares in the last quarter. Penserra Capital Management LLC grew its holdings in shares of Consolidated Edison by 11,130.0% during the 2nd quarter. Penserra Capital Management LLC now owns 2,246 shares of the utilities provider’s stock valued at $202,000 after purchasing an additional 2,226 shares during the last quarter. Mariner LLC increased its stake in shares of Consolidated Edison by 24.9% in the third quarter. Mariner LLC now owns 91,702 shares of the utilities provider’s stock valued at $7,844,000 after buying an additional 18,270 shares during the period. Comerica Bank acquired a new position in shares of Consolidated Edison in the third quarter worth approximately $8,014,000. Finally, PGGM Investments grew its stake in Consolidated Edison by 45.5% during the third quarter. PGGM Investments now owns 53,476 shares of the utilities provider’s stock worth $4,574,000 after purchasing an additional 16,729 shares during the period. 66.29% of the stock is currently owned by institutional investors.

Consolidated Edison Stock Up 0.8 %

NYSE:ED traded up $0.76 during trading hours on Thursday, reaching $90.81. 1,785,011 shares of the company traded hands, compared to its average volume of 1,787,160. The company has a current ratio of 1.01, a quick ratio of 0.94 and a debt-to-equity ratio of 1.04. The stock has a market capitalization of $31.38 billion, a P/E ratio of 12.65, a P/E/G ratio of 8.24 and a beta of 0.35. Consolidated Edison, Inc. has a 1 year low of $80.46 and a 1 year high of $100.92. The business’s 50-day moving average price is $88.94 and its two-hundred day moving average price is $89.54.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings results on Thursday, February 15th. The utilities provider reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.02. The firm had revenue of $3.44 billion for the quarter, compared to the consensus estimate of $3.70 billion. Consolidated Edison had a return on equity of 8.41% and a net margin of 17.19%. The company’s quarterly revenue was down 14.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.81 earnings per share. Analysts predict that Consolidated Edison, Inc. will post 5.3 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 15th. Shareholders of record on Wednesday, February 14th were issued a dividend of $0.83 per share. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.81. This represents a $3.32 dividend on an annualized basis and a yield of 3.66%. The ex-dividend date of this dividend was Tuesday, February 13th. Consolidated Edison’s dividend payout ratio is currently 46.24%.

Analyst Ratings Changes

Several research firms have weighed in on ED. Scotiabank upped their price objective on shares of Consolidated Edison from $90.00 to $91.00 and gave the stock a “sector underperform” rating in a report on Tuesday, February 20th. KeyCorp raised Consolidated Edison from an “underweight” rating to a “sector weight” rating in a research report on Thursday, January 4th. Barclays lifted their target price on shares of Consolidated Edison from $86.00 to $87.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 14th. LADENBURG THALM/SH SH initiated coverage on Consolidated Edison in a report on Wednesday, January 3rd. They set a “neutral” rating and a $92.50 price objective on the stock. Finally, UBS Group reduced their price objective on shares of Consolidated Edison from $99.00 to $94.00 and set a “neutral” rating for the company in a research note on Friday, February 16th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Consolidated Edison currently has an average rating of “Hold” and a consensus price target of $87.96.

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.