Southland Equity Partners LLC Purchases 271 Shares of Consolidated Edison, Inc. (NYSE:ED)

Southland Equity Partners LLC increased its holdings in shares of Consolidated Edison, Inc. (NYSE:ED) by 11.8% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 2,563 shares of the utilities provider’s stock after purchasing an additional 271 shares during the period. Southland Equity Partners LLC’s holdings in Consolidated Edison were worth $229,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Capital Performance Advisors LLP acquired a new stake in shares of Consolidated Edison during the 3rd quarter worth about $27,000. Ashton Thomas Securities LLC acquired a new stake in Consolidated Edison during the third quarter worth approximately $30,000. FSA Wealth Management LLC bought a new stake in shares of Consolidated Edison during the third quarter worth approximately $55,000. Future Financial Wealth Managment LLC acquired a new position in shares of Consolidated Edison in the third quarter valued at approximately $55,000. Finally, Webster Bank N. A. increased its stake in shares of Consolidated Edison by 189.5% during the third quarter. Webster Bank N. A. now owns 579 shares of the utilities provider’s stock worth $60,000 after purchasing an additional 379 shares during the period. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Price Performance

Consolidated Edison stock opened at $90.66 on Friday. The stock has a fifty day moving average of $92.99 and a 200-day moving average of $97.93. The stock has a market capitalization of $31.41 billion, a P/E ratio of 17.07, a price-to-earnings-growth ratio of 2.89 and a beta of 0.38. 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 52 week low of $85.85 and a 52 week high of $107.75.

Consolidated Edison (NYSE:ED) last posted its earnings results on Thursday, November 7th. The utilities provider reported $1.68 EPS for the quarter, topping analysts’ consensus estimates of $1.56 by $0.12. The firm had revenue of $4.09 billion during the quarter, compared to analysts’ expectations of $4.02 billion. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.70%. On average, sell-side analysts expect that Consolidated Edison, Inc. will post 5.35 earnings per share for the current fiscal year.

Consolidated Edison Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Wednesday, February 19th will be issued a dividend of $0.85 per share. The ex-dividend date is Wednesday, February 19th. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.83. This represents a $3.40 annualized dividend and a dividend yield of 3.75%. Consolidated Edison’s dividend payout ratio is 64.03%.

Analyst Ratings Changes

ED has been the subject of several recent research reports. Barclays reduced their price target on Consolidated Edison from $104.00 to $99.00 and set an “underweight” rating for the company in a research note on Friday, November 8th. Jefferies Financial Group started coverage on shares of Consolidated Edison in a research note on Wednesday, October 9th. They issued a “hold” rating and a $108.00 price target on the stock. Morgan Stanley dropped their price objective on shares of Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating for the company in a research note on Friday, November 22nd. Evercore ISI lowered shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Finally, Citigroup upgraded shares of Consolidated Edison from a “neutral” rating to a “buy” rating and lifted their price target for the company from $103.00 to $116.00 in a research report on Tuesday, October 15th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Consolidated Edison currently has an average rating of “Hold” and a consensus price target of $100.64.

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.