Armor Investment Advisors LLC Takes $207,000 Position in Consolidated Edison, Inc. (NYSE:ED)

Armor Investment Advisors LLC bought a new position in Consolidated Edison, Inc. (NYSE:ED) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,987 shares of the utilities provider’s stock, valued at approximately $207,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of ED. Beacon Capital Management LLC increased its position in Consolidated Edison by 2,307.7% in the first quarter. Beacon Capital Management LLC now owns 313 shares of the utilities provider’s stock worth $28,000 after buying an additional 300 shares during the last quarter. Pathway Financial Advisers LLC bought a new position in shares of Consolidated Edison during the 1st quarter valued at about $33,000. TruNorth Capital Management LLC purchased a new position in shares of Consolidated Edison during the second quarter worth approximately $33,000. Versant Capital Management Inc raised its position in Consolidated Edison by 380.2% in the 2nd quarter. Versant Capital Management Inc now owns 413 shares of the utilities provider’s stock worth $37,000 after purchasing an additional 327 shares during the period. Finally, ESL Trust Services LLC bought a new stake in shares of Consolidated Edison in the 1st quarter valued at about $54,000. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Trading Down 0.3 %

Shares of Consolidated Edison stock opened at $99.53 on Wednesday. The company has a quick ratio of 0.97, a current ratio of 1.04 and a debt-to-equity ratio of 1.08. The company’s 50-day simple moving average is $103.51 and its 200-day simple moving average is $97.85. Consolidated Edison, Inc. has a 52-week low of $85.85 and a 52-week high of $107.75. The firm has a market cap of $34.45 billion, a price-to-earnings ratio of 19.42, a price-to-earnings-growth ratio of 3.37 and a beta of 0.36.

Consolidated Edison Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Wednesday, November 13th will be paid a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 3.34%. The ex-dividend date is Wednesday, November 13th. Consolidated Edison’s dividend payout ratio (DPR) is presently 64.59%.

Wall Street Analyst Weigh In

ED has been the topic of several recent analyst reports. Citigroup raised Consolidated Edison from a “neutral” rating to a “buy” rating and raised their target price for the stock from $103.00 to $116.00 in a research note on Tuesday, October 15th. Barclays boosted their price target on Consolidated Edison from $98.00 to $104.00 and gave the stock an “underweight” rating in a research note on Monday, October 21st. Scotiabank boosted their target price on shares of Consolidated Edison from $85.00 to $90.00 and gave the company a “sector underperform” rating in a research report on Tuesday, August 20th. Wells Fargo & Company lifted their price objective on Consolidated Edison from $97.00 to $105.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. Finally, UBS Group increased their price target on Consolidated Edison from $105.00 to $106.00 and gave the stock a “neutral” rating in a research note on Friday, September 20th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $98.73.

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.