Berger Financial Group Inc Purchases 1,243 Shares of Consolidated Edison, Inc. (NYSE:ED)

Berger Financial Group Inc lifted its position in Consolidated Edison, Inc. (NYSE:ED) by 2.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 55,694 shares of the utilities provider’s stock after purchasing an additional 1,243 shares during the period. Berger Financial Group Inc’s holdings in Consolidated Edison were worth $4,970,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Coldstream Capital Management Inc. lifted its holdings in Consolidated Edison by 10.1% in the 4th quarter. Coldstream Capital Management Inc. now owns 6,454 shares of the utilities provider’s stock worth $576,000 after purchasing an additional 590 shares in the last quarter. Nebula Research & Development LLC raised its position in shares of Consolidated Edison by 224.1% during the fourth quarter. Nebula Research & Development LLC now owns 33,644 shares of the utilities provider’s stock valued at $3,002,000 after buying an additional 23,264 shares during the last quarter. Kovitz Investment Group Partners LLC purchased a new position in shares of Consolidated Edison in the fourth quarter worth $605,000. Sompo Asset Management Co. Ltd. boosted its position in shares of Consolidated Edison by 21.2% during the fourth quarter. Sompo Asset Management Co. Ltd. now owns 3,950 shares of the utilities provider’s stock worth $352,000 after acquiring an additional 690 shares during the last quarter. Finally, MGO One Seven LLC grew its stake in Consolidated Edison by 9.2% during the fourth quarter. MGO One Seven LLC now owns 5,235 shares of the utilities provider’s stock valued at $467,000 after acquiring an additional 441 shares in the last quarter. 66.29% of the stock is currently owned by institutional investors.

Consolidated Edison Stock Performance

ED stock opened at $110.42 on Friday. The firm has a 50-day simple moving average of $106.42 and a two-hundred day simple moving average of $99.52. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01. Consolidated Edison, Inc. has a one year low of $87.28 and a one year high of $114.87. The firm has a market cap of $39.77 billion, a price-to-earnings ratio of 21.07, a PEG ratio of 3.05 and a beta of 0.27.

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

Consolidated Edison Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Wednesday, May 14th will be issued a $0.85 dividend. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $3.40 annualized dividend and a yield of 3.08%. Consolidated Edison’s dividend payout ratio (DPR) is presently 64.89%.

Analyst Upgrades and Downgrades

Several analysts have commented on ED shares. Citigroup boosted their price target on shares of Consolidated Edison from $116.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, April 9th. Morgan Stanley set a $94.00 target price on Consolidated Edison and gave the stock an “overweight” rating in a research report on Wednesday. Evercore ISI cut Consolidated Edison from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 21st. Scotiabank lifted their price objective on Consolidated Edison from $100.00 to $101.00 and gave the stock a “sector perform” rating in a research note on Monday, February 24th. Finally, Mizuho increased their target price on Consolidated Edison from $92.00 to $95.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $103.60.

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.