Greenleaf Trust Acquires 412 Shares of Consolidated Edison, Inc. (NYSE:ED)

Greenleaf Trust increased its stake in Consolidated Edison, Inc. (NYSE:ED) by 5.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 8,559 shares of the utilities provider’s stock after purchasing an additional 412 shares during the quarter. Greenleaf Trust’s holdings in Consolidated Edison were worth $764,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in the stock. Capital Performance Advisors LLP purchased a new position in Consolidated Edison during the third quarter valued at approximately $27,000. AlphaMark Advisors LLC purchased a new position in shares of Consolidated Edison during the 4th quarter valued at $27,000. Ashton Thomas Securities LLC bought a new position in Consolidated Edison in the 3rd quarter worth $30,000. Future Financial Wealth Managment LLC purchased a new stake in Consolidated Edison in the 3rd quarter worth $55,000. Finally, FSA Wealth Management LLC bought a new stake in Consolidated Edison during the third quarter valued at about $55,000. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Stock Performance

Shares of Consolidated Edison stock opened at $94.96 on Wednesday. The business’s 50 day moving average price is $92.42 and its 200 day moving average price is $98.15. Consolidated Edison, Inc. has a one year low of $85.85 and a one year high of $107.75. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01. The company has a market cap of $32.89 billion, a price-to-earnings ratio of 17.88, a PEG ratio of 2.99 and a beta of 0.39.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings data on Thursday, November 7th. The utilities provider reported $1.68 EPS for the quarter, topping the consensus estimate of $1.56 by $0.12. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.70%. The firm had revenue of $4.09 billion for the quarter, compared to analyst estimates of $4.02 billion. On average, research analysts predict that Consolidated Edison, Inc. will post 5.35 EPS for the current year.

Consolidated Edison Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Wednesday, February 19th will be issued a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 3.58%. The ex-dividend date is Wednesday, February 19th. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.83. Consolidated Edison’s payout ratio is currently 62.52%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Scotiabank raised shares of Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and increased their price objective for the company from $90.00 to $100.00 in a report on Thursday, December 12th. Barclays decreased their price objective on Consolidated Edison from $99.00 to $92.00 and set an “underweight” rating for the company in a report on Monday, January 27th. Evercore ISI downgraded Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 21st. Morgan Stanley cut their price objective on shares of Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating on the stock in a research report on Friday, November 22nd. Finally, Jefferies Financial Group began coverage on shares of Consolidated Edison in a research report on Wednesday, October 9th. They set a “hold” rating and a $108.00 target price for the company. Two analysts have rated the stock with a sell rating, eight have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Consolidated Edison currently has an average rating of “Hold” and an average price target of $100.00.

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.