Citizens Financial Group Inc. RI Has $889,000 Stock Position in Consolidated Edison, Inc. (NYSE:ED)

Citizens Financial Group Inc. RI boosted its stake in Consolidated Edison, Inc. (NYSE:ED) by 25.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 9,968 shares of the utilities provider’s stock after buying an additional 2,021 shares during the period. Citizens Financial Group Inc. RI’s holdings in Consolidated Edison were worth $889,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Independent Advisor Alliance boosted its holdings in Consolidated Edison by 18.9% in the 4th quarter. Independent Advisor Alliance now owns 26,907 shares of the utilities provider’s stock valued at $2,401,000 after purchasing an additional 4,268 shares during the period. Daiwa Securities Group Inc. boosted its holdings in Consolidated Edison by 7.5% in the 4th quarter. Daiwa Securities Group Inc. now owns 46,070 shares of the utilities provider’s stock valued at $4,111,000 after purchasing an additional 3,213 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Consolidated Edison by 9.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 416,106 shares of the utilities provider’s stock valued at $37,129,000 after purchasing an additional 36,931 shares during the period. Sound View Wealth Advisors Group LLC boosted its holdings in Consolidated Edison by 12.4% in the 4th quarter. Sound View Wealth Advisors Group LLC now owns 29,350 shares of the utilities provider’s stock valued at $2,619,000 after purchasing an additional 3,239 shares during the period. Finally, AlphaQuest LLC bought a new stake in Consolidated Edison in the 4th quarter valued at about $3,693,000. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Price Performance

ED stock opened at $102.72 on Thursday. The company has a 50 day simple moving average of $95.30 and a 200 day simple moving average of $98.11. The stock has a market cap of $35.62 billion, a price-to-earnings ratio of 19.60, a P/E/G ratio of 3.05 and a beta of 0.30. Consolidated Edison, Inc. has a 1 year low of $87.16 and a 1 year high of $107.97. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93.

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

Consolidated Edison Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th will be given a $0.85 dividend. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.83. This represents a $3.40 annualized dividend and a yield of 3.31%. The ex-dividend date is Wednesday, February 19th. Consolidated Edison’s dividend payout ratio is 64.89%.

Analysts Set New Price Targets

ED has been the subject of a number of recent research reports. Barclays boosted their price objective on shares of Consolidated Edison from $92.00 to $95.00 and gave the company an “underweight” rating in a report on Monday, February 24th. Scotiabank upped their price target on shares of Consolidated Edison from $100.00 to $101.00 and gave the stock a “sector perform” rating in a report on Monday, February 24th. Mizuho upped their price target on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. UBS Group upped their price target on shares of Consolidated Edison from $105.00 to $110.00 and gave the stock a “neutral” rating in a report on Tuesday, February 25th. Finally, Morgan Stanley cut their price target on shares of Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating for the company in a report on Friday, November 22nd. Two analysts have rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $101.50.

Consolidated Edison 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.