Consolidated Edison, Inc. (NYSE:ED) Stake Lifted by Inceptionr LLC

Inceptionr LLC grew its stake in Consolidated Edison, Inc. (NYSE:ED) by 447.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 26,788 shares of the utilities provider’s stock after acquiring an additional 21,892 shares during the quarter. Consolidated Edison comprises about 0.5% of Inceptionr LLC’s portfolio, making the stock its 2nd biggest position. Inceptionr LLC’s holdings in Consolidated Edison were worth $2,390,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Capital Performance Advisors LLP acquired a new stake in shares of Consolidated Edison in the 3rd quarter worth $27,000. AlphaMark Advisors LLC acquired a new stake in shares of Consolidated Edison in the 4th quarter worth $27,000. Ashton Thomas Securities LLC acquired a new stake in shares of Consolidated Edison in the 3rd quarter worth $30,000. Centricity Wealth Management LLC acquired a new stake in shares of Consolidated Edison in the 4th quarter worth $39,000. Finally, CGC Financial Services LLC boosted its position in shares of Consolidated Edison by 64.0% in the 4th quarter. CGC Financial Services LLC now owns 546 shares of the utilities provider’s stock worth $49,000 after purchasing an additional 213 shares in the last quarter. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

Consolidated Edison Stock Performance

Shares of ED stock opened at $100.18 on Thursday. The stock has a market cap of $34.73 billion, a PE ratio of 19.12, a price-to-earnings-growth ratio of 3.05 and a beta of 0.39. The business has a 50-day simple moving average of $93.89 and a 200-day simple moving average of $98.00. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07. Consolidated Edison, Inc. has a 52-week low of $87.16 and a 52-week high of $107.75.

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

Consolidated Edison Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th will be paid a dividend of $0.85 per share. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.83. This represents a $3.40 annualized dividend and a yield of 3.39%. The ex-dividend date of this dividend is Wednesday, February 19th. Consolidated Edison’s payout ratio is 64.89%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Barclays raised their price objective on Consolidated Edison from $92.00 to $95.00 and gave the stock an “underweight” rating in a research report on Monday, February 24th. Morgan Stanley lowered their price target on Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating for the company in a research report on Friday, November 22nd. Evercore ISI cut Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 21st. Mizuho lifted their price target on Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Finally, UBS Group lifted their price target on Consolidated Edison from $105.00 to $110.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 25th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $101.50.

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.