Evanson Asset Management LLC Invests $200,000 in Consolidated Edison, Inc. (NYSE:ED)

Evanson Asset Management LLC acquired a new position in Consolidated Edison, Inc. (NYSE:ED) in the fourth quarter, Holdings Channel reports. The firm acquired 2,200 shares of the utilities provider’s stock, valued at approximately $200,000.

Several other large investors have also recently bought and sold shares of ED. Roundview Capital LLC acquired a new stake in shares of Consolidated Edison in the 1st quarter valued at $680,000. Dimensional Fund Advisors LP raised its position in shares of Consolidated Edison by 22.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,030,616 shares of the utilities provider’s stock valued at $97,579,000 after buying an additional 190,138 shares during the last quarter. Sei Investments Co. increased its position in shares of Consolidated Edison by 54.4% during the first quarter. Sei Investments Co. now owns 18,204 shares of the utilities provider’s stock valued at $1,693,000 after purchasing an additional 6,412 shares during the period. Cetera Investment Advisers lifted its position in Consolidated Edison by 1.3% in the first quarter. Cetera Investment Advisers now owns 19,489 shares of the utilities provider’s stock worth $1,845,000 after purchasing an additional 254 shares during the period. Finally, Sequoia Financial Advisors LLC acquired a new position in shares of Consolidated Edison in the 1st quarter valued at $214,000. 66.29% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently issued reports on ED. Scotiabank increased their target price on shares of Consolidated Edison from $90.00 to $91.00 and gave the stock a “sector underperform” rating in a research report on Tuesday, February 20th. LADENBURG THALM/SH SH began coverage on Consolidated Edison in a report on Wednesday, January 3rd. They set a “neutral” rating and a $92.50 target price on the stock. UBS Group cut their price target 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. Barclays upped their target price 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. Finally, KeyCorp upgraded Consolidated Edison from an “underweight” rating to a “sector weight” rating in a report on Thursday, January 4th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $87.96.

Consolidated Edison Stock Up 0.8 %

Shares of NYSE:ED traded up $0.76 during trading on Thursday, hitting $90.81. 1,785,011 shares of the company were exchanged, compared to its average volume of 1,787,160. The company has a current ratio of 1.01, a quick ratio of 0.94 and a debt-to-equity ratio of 1.04. The firm has a fifty day moving average price of $88.94 and a two-hundred day moving average price of $89.54. Consolidated Edison, Inc. has a fifty-two week low of $80.46 and a fifty-two week high of $100.92. The stock has a market cap of $31.38 billion, a price-to-earnings ratio of 12.65, a P/E/G ratio of 8.24 and a beta of 0.35.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings results on Thursday, February 15th. The utilities provider reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.02. Consolidated Edison had a return on equity of 8.41% and a net margin of 17.19%. The business had revenue of $3.44 billion for the quarter, compared to analysts’ expectations of $3.70 billion. During the same quarter in the prior year, the business earned $0.81 EPS. The firm’s revenue for the quarter was down 14.6% on a year-over-year basis. As a group, research analysts anticipate that Consolidated Edison, Inc. will post 5.3 earnings per share for the current fiscal year.

Consolidated Edison Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Wednesday, February 14th were issued a dividend of $0.83 per share. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.81. This represents a $3.32 annualized dividend and a yield of 3.66%. The ex-dividend date was Tuesday, February 13th. Consolidated Edison’s dividend payout ratio (DPR) is presently 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.