4,222 Shares in Consolidated Edison, Inc. (NYSE:ED) Acquired by Sheaff Brock Investment Advisors LLC

Sheaff Brock Investment Advisors LLC bought a new position in Consolidated Edison, Inc. (NYSE:ED) in the fourth quarter, Holdings Channel reports. The firm bought 4,222 shares of the utilities provider’s stock, valued at approximately $377,000.

A number of other institutional investors also recently bought and sold shares of ED. Creative Planning boosted its stake in Consolidated Edison by 7.9% in the 3rd quarter. Creative Planning now owns 98,928 shares of the utilities provider’s stock worth $10,301,000 after purchasing an additional 7,269 shares in the last quarter. nVerses Capital LLC purchased a new position in Consolidated Edison during the 3rd quarter worth approximately $115,000. Blue Trust Inc. raised its position in Consolidated Edison by 70.8% during the 3rd quarter. Blue Trust Inc. now owns 4,695 shares of the utilities provider’s stock worth $489,000 after buying an additional 1,946 shares during the last quarter. Raymond James & Associates raised its position in Consolidated Edison by 20.1% during the 3rd quarter. Raymond James & Associates now owns 190,145 shares of the utilities provider’s stock worth $19,800,000 after buying an additional 31,761 shares during the last quarter. Finally, Chicago Capital LLC purchased a new position in Consolidated Edison during the 3rd quarter worth approximately $363,000. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have issued reports on ED. Morgan Stanley reduced their price target on shares of Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating for the company in a research report on Friday, November 22nd. Evercore ISI lowered shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 21st. Scotiabank raised shares of Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and lifted their target price for the company from $90.00 to $100.00 in a report on Thursday, December 12th. Mizuho lifted their target price on shares of Consolidated Edison from $92.00 to $95.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Finally, Barclays cut their target price on shares of Consolidated Edison from $99.00 to $92.00 and set an “underweight” rating for the company in a report on Monday, January 27th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $100.70.

Consolidated Edison Price Performance

Shares of NYSE ED opened at $95.01 on Monday. The firm has a market cap of $32.91 billion, a PE ratio of 17.89, a PEG ratio of 3.04 and a beta of 0.39. The firm has a fifty day moving average of $91.84 and a 200 day moving average of $98.13. 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, Inc. has a one year low of $85.85 and a one year high of $107.75.

Consolidated Edison Increases Dividend

The business also recently declared 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 yield of 3.58%. The ex-dividend date of this dividend is Wednesday, February 19th. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.83. Consolidated Edison’s payout ratio is presently 62.52%.

About Consolidated Edison

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.