Herold Advisors Inc. Buys 715 Shares of Consolidated Edison, Inc. (NYSE:ED)

Herold Advisors Inc. raised its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 3.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 19,380 shares of the utilities provider’s stock after purchasing an additional 715 shares during the quarter. Herold Advisors Inc.’s holdings in Consolidated Edison were worth $1,763,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Financial Gravity Asset Management Inc. increased its holdings in shares of Consolidated Edison by 215.6% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 284 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 194 shares during the period. Level Financial Advisors Inc. bought a new stake in Consolidated Edison in the third quarter valued at about $26,000. Turtle Creek Wealth Advisors LLC bought a new stake in Consolidated Edison in the fourth quarter valued at about $29,000. Bruce G. Allen Investments LLC bought a new stake in Consolidated Edison in the fourth quarter valued at about $31,000. Finally, CVA Family Office LLC bought a new stake in Consolidated Edison in the fourth quarter valued at about $32,000. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Stock Down 1.2 %

Shares of NYSE:ED opened at $92.95 on Friday. Consolidated Edison, Inc. has a 52 week low of $80.46 and a 52 week high of $100.44. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.94 and a current ratio of 1.01. The company has a market capitalization of $32.12 billion, a PE ratio of 12.95, a PEG ratio of 8.86 and a beta of 0.35. The company has a 50 day moving average price of $89.52 and a two-hundred day moving average price of $89.90.

Consolidated Edison (NYSE:ED) last issued its earnings results on Thursday, February 15th. The utilities provider reported $1.00 EPS for the quarter, beating the consensus estimate of $0.98 by $0.02. Consolidated Edison had a net margin of 17.19% and a return on equity of 8.41%. The firm had revenue of $3.44 billion during the quarter, compared to the consensus estimate of $3.70 billion. During the same quarter in the prior year, the firm earned $0.81 earnings per share. The business’s quarterly revenue was down 14.6% on a year-over-year basis. Analysts forecast that Consolidated Edison, Inc. will post 5.31 earnings per share for the current year.

Consolidated Edison Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Wednesday, May 15th will be given a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 3.57%. The ex-dividend date of this dividend is Tuesday, May 14th. Consolidated Edison’s dividend payout ratio is 46.24%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ED. KeyCorp raised shares of Consolidated Edison from an “underweight” rating to a “sector weight” rating in a research note on Thursday, January 4th. LADENBURG THALM/SH SH initiated coverage on shares of Consolidated Edison in a research report on Wednesday, January 3rd. They issued a “neutral” rating and a $92.50 price target on the stock. UBS Group reduced their price target on shares of Consolidated Edison from $99.00 to $94.00 and set a “neutral” rating on the stock in a research report on Friday, February 16th. Scotiabank reduced their price target on shares of Consolidated Edison from $91.00 to $85.00 and set a “sector underperform” rating on the stock in a research report on Monday, April 22nd. Finally, Barclays boosted their price target on shares of Consolidated Edison from $86.00 to $87.00 and gave the company an “equal weight” rating in a research report on Thursday, March 14th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $87.54.

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.