GWN Securities Inc. Invests $1.22 Million in Consolidated Edison, Inc. (NYSE:ED)

GWN Securities Inc. bought a new position in shares of Consolidated Edison, Inc. (NYSE:ED) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 13,413 shares of the utilities provider’s stock, valued at approximately $1,215,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in ED. AlphaMark Advisors LLC bought a new stake in shares of Consolidated Edison during the fourth quarter worth $27,000. OFI Invest Asset Management bought a new stake in shares of Consolidated Edison during the fourth quarter worth $35,000. Fairway Wealth LLC acquired a new stake in shares of Consolidated Edison during the fourth quarter worth $36,000. Centricity Wealth Management LLC acquired a new stake in shares of Consolidated Edison during the fourth quarter worth $39,000. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of Consolidated Edison during the fourth quarter worth $44,000. Institutional investors own 66.29% of the company’s stock.

Wall Street Analyst Weigh In

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

Consolidated Edison Stock Performance

Shares of Consolidated Edison stock opened at $106.60 on Friday. The firm has a market cap of $36.97 billion, a price-to-earnings ratio of 20.34, a price-to-earnings-growth ratio of 3.05 and a beta of 0.30. The stock’s 50-day moving average is $95.96 and its 200-day moving average is $98.18. Consolidated Edison, Inc. has a one year low of $87.16 and a one 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 issued its quarterly earnings results on Thursday, February 20th. The utilities provider reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.01. The company had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.63 billion. Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. Equities analysts predict that Consolidated Edison, Inc. will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Wednesday, February 19th were issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 3.19%. The ex-dividend date of this dividend was Wednesday, February 19th. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.83. Consolidated Edison’s dividend payout ratio is presently 64.89%.

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.