Fidelis Capital Partners LLC Boosts Stake in Consolidated Edison, Inc. (NYSE:ED)

Fidelis Capital Partners LLC lifted its holdings in Consolidated Edison, Inc. (NYSE:ED) by 9.4% during the third quarter, Holdings Channel.com reports. The institutional investor owned 8,566 shares of the utilities provider’s stock after acquiring an additional 734 shares during the quarter. Fidelis Capital Partners LLC’s holdings in Consolidated Edison were worth $920,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of ED. Hennion & Walsh Asset Management Inc. increased its holdings in Consolidated Edison by 32.6% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 11,673 shares of the utilities provider’s stock worth $1,060,000 after buying an additional 2,868 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Consolidated Edison by 5.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 227,728 shares of the utilities provider’s stock valued at $20,680,000 after purchasing an additional 11,972 shares during the last quarter. Monument Capital Management bought a new position in Consolidated Edison during the first quarter worth about $488,000. Norden Group LLC purchased a new position in shares of Consolidated Edison in the first quarter worth about $1,074,000. Finally, Kovack Advisors Inc. lifted its stake in shares of Consolidated Edison by 16.6% during the 1st quarter. Kovack Advisors Inc. now owns 6,264 shares of the utilities provider’s stock valued at $569,000 after buying an additional 892 shares in the last quarter. 66.29% of the stock is owned by institutional investors.

Consolidated Edison Stock Down 1.8 %

Shares of NYSE:ED opened at $102.91 on Wednesday. Consolidated Edison, Inc. has a 12-month low of $85.85 and a 12-month high of $107.75. The stock has a fifty day simple moving average of $103.49 and a two-hundred day simple moving average of $97.47. The stock has a market capitalization of $35.59 billion, a price-to-earnings ratio of 19.75, a PEG ratio of 3.57 and a beta of 0.36. The company has a current ratio of 1.04, a quick ratio of 0.97 and a debt-to-equity ratio of 1.08.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.02. Consolidated Edison had a net margin of 12.03% and a return on equity of 8.67%. The company had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.08 billion. During the same quarter last year, the firm earned $0.61 earnings per share. On average, research analysts anticipate that Consolidated Edison, Inc. will post 5.3 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Wednesday, November 13th will be given a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 3.23%. The ex-dividend date is Wednesday, November 13th. Consolidated Edison’s payout ratio is currently 63.72%.

Analysts Set New Price Targets

ED has been the subject of a number of recent research reports. Jefferies Financial Group began coverage on shares of Consolidated Edison in a research note on Wednesday, October 9th. They issued a “hold” rating and a $108.00 price objective for the company. UBS Group lifted their price target on Consolidated Edison from $105.00 to $106.00 and gave the company a “neutral” rating in a research report on Friday, September 20th. Morgan Stanley increased their price objective on Consolidated Edison from $82.00 to $87.00 and gave the stock an “underweight” rating in a report on Wednesday, September 25th. Barclays upped their price target on Consolidated Edison from $98.00 to $104.00 and gave the company an “underweight” rating in a research report on Monday, October 21st. Finally, Citigroup raised shares of Consolidated Edison from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $103.00 to $116.00 in a research note on Tuesday, October 15th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Consolidated Edison currently has a consensus rating of “Hold” and a consensus price target of $98.73.

Consolidated Edison Company Profile

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.