PDS Planning Inc Has $233,000 Stock Holdings in Consolidated Edison, Inc. (NYSE:ED)

PDS Planning Inc lowered its holdings in shares of Consolidated Edison, Inc. (NYSE:ED) by 4.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,613 shares of the utilities provider’s stock after selling 127 shares during the period. PDS Planning Inc’s holdings in Consolidated Edison were worth $233,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of ED. AlphaMark Advisors LLC acquired a new stake in shares of Consolidated Edison during the 4th quarter valued at $27,000. Fairway Wealth LLC acquired a new stake in shares of Consolidated Edison during the fourth quarter valued at about $36,000. OFI Invest Asset Management bought a new stake in shares of Consolidated Edison during the fourth quarter worth about $35,000. Centricity Wealth Management LLC bought a new stake in shares of Consolidated Edison during the fourth quarter worth about $39,000. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Consolidated Edison in the fourth quarter valued at approximately $44,000. 66.29% of the stock is currently owned by institutional investors.

Consolidated Edison Price Performance

Shares of ED opened at $107.53 on Thursday. The firm has a market cap of $37.29 billion, a PE ratio of 20.52, a price-to-earnings-growth ratio of 3.05 and a beta of 0.30. Consolidated Edison, Inc. has a 52-week low of $87.16 and a 52-week high of $108.43. The business’s 50 day moving average price is $97.12 and its two-hundred day moving average price is $98.32. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01.

Consolidated Edison (NYSE:ED) last released its earnings results on Thursday, February 20th. The utilities provider reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.01. The company had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.63 billion. Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. On average, equities analysts anticipate that Consolidated Edison, Inc. will post 5.62 EPS for the current year.

Consolidated Edison Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Wednesday, February 19th were paid a $0.85 dividend. The ex-dividend date of this dividend was Wednesday, February 19th. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.83. This represents a $3.40 annualized dividend and a dividend yield of 3.16%. Consolidated Edison’s dividend payout ratio (DPR) is currently 64.89%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on ED shares. Scotiabank lifted their target price on shares of Consolidated Edison from $100.00 to $101.00 and gave the stock a “sector perform” rating in a research report on Monday, February 24th. UBS Group boosted their price objective on shares of Consolidated Edison from $105.00 to $110.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 25th. Barclays raised their target price on Consolidated Edison from $92.00 to $95.00 and gave the stock an “underweight” rating in a research report on Monday, February 24th. Mizuho upped their price target on Consolidated Edison from $92.00 to $95.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Finally, Evercore ISI downgraded Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 21st. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $101.50.

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.