Ellsworth Advisors LLC Has $4.45 Million Position in Consolidated Edison, Inc. (NYSE:ED)

Ellsworth Advisors LLC increased its holdings in shares of Consolidated Edison, Inc. (NYSE:ED) by 2.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,875 shares of the utilities provider’s stock after purchasing an additional 1,126 shares during the period. Consolidated Edison makes up 1.4% of Ellsworth Advisors LLC’s portfolio, making the stock its 25th biggest position. Ellsworth Advisors LLC’s holdings in Consolidated Edison were worth $4,446,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Geode Capital Management LLC lifted its holdings in shares of Consolidated Edison by 2.0% during the 1st quarter. Geode Capital Management LLC now owns 7,949,371 shares of the utilities provider’s stock valued at $761,387,000 after purchasing an additional 154,945 shares in the last quarter. Legal & General Group Plc lifted its stake in Consolidated Edison by 0.5% in the 3rd quarter. Legal & General Group Plc now owns 6,201,026 shares of the utilities provider’s stock valued at $530,373,000 after acquiring an additional 27,850 shares in the last quarter. Northern Trust Corp lifted its stake in Consolidated Edison by 8.2% in the 3rd quarter. Northern Trust Corp now owns 4,484,026 shares of the utilities provider’s stock valued at $383,519,000 after acquiring an additional 340,239 shares in the last quarter. Morgan Stanley lifted its stake in Consolidated Edison by 1.8% in the 3rd quarter. Morgan Stanley now owns 4,221,543 shares of the utilities provider’s stock valued at $361,069,000 after acquiring an additional 72,915 shares in the last quarter. Finally, Moneta Group Investment Advisors LLC lifted its stake in Consolidated Edison by 89,231.2% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 4,145,861 shares of the utilities provider’s stock valued at $395,142,000 after acquiring an additional 4,141,220 shares in the last quarter. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Stock Performance

Shares of ED stock traded up $0.76 during trading on Friday, reaching $90.81. 1,785,835 shares of the company’s stock were exchanged, compared to its average volume of 1,679,056. The company has a quick ratio of 0.94, a current ratio of 1.01 and a debt-to-equity ratio of 1.04. The stock has a market capitalization of $31.38 billion, a PE ratio of 12.65, a PEG ratio of 8.49 and a beta of 0.35. Consolidated Edison, Inc. has a twelve month low of $80.46 and a twelve month high of $100.92. The firm’s fifty day moving average price is $88.94 and its 200-day moving average price is $89.54.

Consolidated Edison (NYSE:ED) last posted its earnings results on Thursday, February 15th. The utilities provider reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.02. The business had revenue of $3.44 billion for the quarter, compared to analyst estimates of $3.70 billion. Consolidated Edison had a return on equity of 8.41% and a net margin of 17.19%. The firm’s revenue was down 14.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.81 EPS. As a group, sell-side analysts anticipate that Consolidated Edison, Inc. will post 5.3 EPS for the current year.

Consolidated Edison Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Wednesday, February 14th were issued a dividend of $0.83 per share. The ex-dividend date was Tuesday, February 13th. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.81. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.66%. Consolidated Edison’s payout ratio is presently 46.24%.

Analyst Upgrades and Downgrades

Several research firms have commented on ED. Barclays boosted their target price on Consolidated Edison from $86.00 to $87.00 and gave the company an “equal weight” rating in a research note on Thursday, March 14th. Scotiabank boosted their target price on Consolidated Edison from $90.00 to $91.00 and gave the company a “sector underperform” rating in a research note on Tuesday, February 20th. Royal Bank of Canada dropped their price objective on Consolidated Edison from $94.00 to $93.00 and set a “sector perform” rating on the stock in a research note on Friday, February 16th. LADENBURG THALM/SH SH assumed coverage on Consolidated Edison in a research note on Wednesday, January 3rd. They set a “neutral” rating and a $92.50 price objective on the stock. Finally, KeyCorp upgraded Consolidated Edison from an “underweight” rating to a “sector weight” rating in a research note on Thursday, January 4th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has given 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.