Horst & Graben Wealth Management LLC Purchases New Shares in Consolidated Edison, Inc. (NYSE:ED)

Horst & Graben Wealth Management LLC acquired a new stake in shares of Consolidated Edison, Inc. (NYSE:ED) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 3,180 shares of the utilities provider’s stock, valued at approximately $289,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Koshinski Asset Management Inc. lifted its position in Consolidated Edison by 48.7% during the fourth quarter. Koshinski Asset Management Inc. now owns 7,600 shares of the utilities provider’s stock valued at $691,000 after buying an additional 2,489 shares during the period. Vaughan David Investments LLC IL raised its position in shares of Consolidated Edison by 0.7% in the 4th quarter. Vaughan David Investments LLC IL now owns 23,011 shares of the utilities provider’s stock worth $2,093,000 after purchasing an additional 156 shares during the last quarter. Essex LLC raised its position in shares of Consolidated Edison by 15.1% in the 4th quarter. Essex LLC now owns 21,660 shares of the utilities provider’s stock worth $1,970,000 after purchasing an additional 2,840 shares during the last quarter. Perigon Wealth Management LLC raised its position in shares of Consolidated Edison by 5.4% in the 4th quarter. Perigon Wealth Management LLC now owns 4,707 shares of the utilities provider’s stock worth $428,000 after purchasing an additional 243 shares during the last quarter. Finally, Wealth Effects LLC purchased a new position in shares of Consolidated Edison in the 4th quarter worth about $400,000. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Consolidated Edison Trading Up 0.1 %

Shares of NYSE:ED opened at $88.63 on Friday. The stock has a 50 day moving average of $88.91 and a 200 day moving average of $89.47. The company has a market cap of $30.62 billion, a PE ratio of 12.34, a price-to-earnings-growth ratio of 8.36 and a beta of 0.35. The company has a current ratio of 1.01, a quick ratio of 0.94 and a debt-to-equity ratio of 1.04. Consolidated Edison, Inc. has a 12-month low of $80.46 and a 12-month high of $100.92.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings data 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 company had revenue of $3.44 billion during 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 firm’s revenue was down 14.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.81 EPS. As a group, equities research analysts expect that Consolidated Edison, Inc. will post 5.3 EPS for the current year.

Consolidated Edison Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Wednesday, February 14th were paid a $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 3.75%. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.81. The ex-dividend date was Tuesday, February 13th. Consolidated Edison’s dividend payout ratio is presently 46.24%.

Wall Street Analysts Forecast Growth

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