Aaron Wealth Advisors LLC Has $730,000 Stock Position in Consolidated Edison, Inc. (NYSE:ED)

Aaron Wealth Advisors LLC lifted its holdings in Consolidated Edison, Inc. (NYSE:ED) by 20.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,177 shares of the utilities provider’s stock after purchasing an additional 1,363 shares during the period. Aaron Wealth Advisors LLC’s holdings in Consolidated Edison were worth $730,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of ED. Astoria Portfolio Advisors LLC. lifted its position in shares of Consolidated Edison by 20.1% in the fourth quarter. Astoria Portfolio Advisors LLC. now owns 2,350 shares of the utilities provider’s stock worth $210,000 after buying an additional 393 shares during the last quarter. Ameritas Advisory Services LLC bought a new position in shares of Consolidated Edison in the 4th quarter valued at approximately $250,000. HB Wealth Management LLC lifted its holdings in Consolidated Edison by 11.8% in the 4th quarter. HB Wealth Management LLC now owns 9,325 shares of the utilities provider’s stock worth $832,000 after purchasing an additional 981 shares during the last quarter. Sanibel Captiva Trust Company Inc. boosted its position in Consolidated Edison by 38.7% during the fourth quarter. Sanibel Captiva Trust Company Inc. now owns 3,389 shares of the utilities provider’s stock worth $302,000 after purchasing an additional 945 shares during the period. Finally, Merit Financial Group LLC grew its holdings in Consolidated Edison by 54.0% during the fourth quarter. Merit Financial Group LLC now owns 9,133 shares of the utilities provider’s stock valued at $815,000 after purchasing an additional 3,204 shares during the last quarter. 66.29% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Scotiabank upgraded shares of Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and boosted their price objective for the stock from $90.00 to $100.00 in a research note on Thursday, December 12th. Barclays cut their target price on shares of Consolidated Edison from $104.00 to $99.00 and set an “underweight” rating for the company in a research report on Friday, November 8th. Citigroup raised Consolidated Edison from a “neutral” rating to a “buy” rating and raised their price target for the company from $103.00 to $116.00 in a research report on Tuesday, October 15th. Morgan Stanley cut their price objective on Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating for the company in a research report on Friday, November 22nd. Finally, Jefferies Financial Group started coverage on Consolidated Edison in a research note on Wednesday, October 9th. They set a “hold” rating and a $108.00 target price for the company. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $100.64.

Consolidated Edison Price Performance

Shares of ED stock opened at $93.74 on Monday. Consolidated Edison, Inc. has a 12 month low of $85.85 and a 12 month high of $107.75. The company has a market capitalization of $32.47 billion, a P/E ratio of 17.65, a P/E/G ratio of 2.81 and a beta of 0.38. The stock has a 50 day moving average of $93.35 and a two-hundred day moving average of $97.91. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.07.

Consolidated Edison (NYSE:ED) last issued its earnings results on Thursday, November 7th. The utilities provider reported $1.68 EPS for the quarter, topping the consensus estimate of $1.56 by $0.12. The firm had revenue of $4.09 billion during the quarter, compared to analysts’ expectations of $4.02 billion. Consolidated Edison had a return on equity of 8.70% and a net margin of 12.27%. As a group, equities analysts expect that Consolidated Edison, Inc. will post 5.35 EPS for the current year.

Consolidated Edison Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Wednesday, February 19th will be paid a $0.85 dividend. The ex-dividend date is Wednesday, February 19th. This represents a $3.40 dividend on an annualized basis and a yield of 3.63%. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.83. Consolidated Edison’s payout ratio is presently 64.03%.

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.