Certuity LLC Has $305,000 Position in Consolidated Edison, Inc. (NYSE:ED)

Certuity LLC grew its position in Consolidated Edison, Inc. (NYSE:ED) by 22.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,350 shares of the utilities provider’s stock after acquiring an additional 618 shares during the period. Certuity LLC’s holdings in Consolidated Edison were worth $305,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Financial Gravity Asset Management Inc. grew its holdings in Consolidated Edison by 215.6% during the third 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. Turtle Creek Wealth Advisors LLC bought a new position in shares of Consolidated Edison during the 4th quarter worth approximately $29,000. Bruce G. Allen Investments LLC acquired a new position in shares of Consolidated Edison during the 4th quarter worth approximately $31,000. CVA Family Office LLC bought a new stake in Consolidated Edison in the 4th quarter valued at $32,000. Finally, Venturi Wealth Management LLC lifted its holdings in Consolidated Edison by 62.2% during the 3rd quarter. Venturi Wealth Management LLC now owns 477 shares of the utilities provider’s stock valued at $41,000 after purchasing an additional 183 shares during the last quarter. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ED has been the topic of several research analyst reports. KeyCorp raised shares of Consolidated Edison from an “underweight” rating to a “sector weight” rating in a research report on Thursday, January 4th. Scotiabank lowered 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 report on Monday, April 22nd. LADENBURG THALM/SH SH started coverage on Consolidated Edison in a report on Wednesday, January 3rd. They set a “neutral” rating and a $92.50 price objective for the company. UBS Group lowered their target price on Consolidated Edison from $99.00 to $94.00 and set a “neutral” rating on the stock in a research note on Friday, February 16th. Finally, Royal Bank of Canada reduced their price target on Consolidated Edison from $94.00 to $93.00 and set a “sector perform” rating for the company in a research note on Friday, February 16th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $87.54.

Consolidated Edison Price Performance

Shares of NYSE ED opened at $94.78 on Thursday. The stock has a market capitalization of $32.75 billion, a PE ratio of 13.20, a P/E/G ratio of 8.89 and a beta of 0.34. Consolidated Edison, Inc. has a fifty-two week low of $80.46 and a fifty-two week high of $100.44. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.01 and a quick ratio of 0.94. The business has a fifty day moving average price of $89.91 and a two-hundred day moving average price of $90.04.

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

Consolidated Edison Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Wednesday, May 15th will be paid a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 3.50%. The ex-dividend date of this dividend is Tuesday, May 14th. Consolidated Edison’s payout ratio is 46.24%.

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.