Coldstream Capital Management Inc. Buys 590 Shares of Consolidated Edison, Inc. (NYSE:ED)

Coldstream Capital Management Inc. raised its position in Consolidated Edison, Inc. (NYSE:ED) by 10.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 6,454 shares of the utilities provider’s stock after buying an additional 590 shares during the quarter. Coldstream Capital Management Inc.’s holdings in Consolidated Edison were worth $576,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. AlphaMark Advisors LLC acquired a new stake in Consolidated Edison in the fourth quarter worth about $27,000. OFI Invest Asset Management bought a new position in shares of Consolidated Edison in the 4th quarter valued at about $35,000. Fairway Wealth LLC acquired a new stake in shares of Consolidated Edison during the 4th quarter worth approximately $36,000. Centricity Wealth Management LLC bought a new stake in shares of Consolidated Edison during the fourth quarter worth approximately $39,000. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new position in Consolidated Edison in the fourth quarter valued at approximately $44,000. 66.29% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have commented on ED shares. Morgan Stanley set a $94.00 target price on shares of Consolidated Edison and gave the company an “overweight” rating in a research report on Wednesday, April 23rd. UBS Group increased their target price on Consolidated Edison from $110.00 to $113.00 and gave the company a “neutral” rating in a research note on Friday, March 21st. Barclays upped their price target on Consolidated Edison from $95.00 to $100.00 and gave the company an “underweight” rating in a research note on Tuesday, April 22nd. Scotiabank lifted 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. Finally, Mizuho upped their target price on shares of Consolidated Edison from $92.00 to $95.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Consolidated Edison currently has a consensus rating of “Hold” and a consensus target price of $103.60.

Consolidated Edison Stock Up 1.0 %

Shares of ED stock opened at $112.19 on Wednesday. Consolidated Edison, Inc. has a 12-month low of $87.28 and a 12-month high of $114.87. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07. The firm has a fifty day moving average of $107.07 and a 200-day moving average of $99.66. The company has a market capitalization of $40.41 billion, a price-to-earnings ratio of 21.41, a P/E/G ratio of 3.05 and a beta of 0.27.

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

Consolidated Edison Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Wednesday, May 14th will be given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date of this dividend is Wednesday, May 14th. Consolidated Edison’s dividend payout ratio is presently 64.89%.

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.