SWS Partners Has $1.84 Million Stock Holdings in Consolidated Edison, Inc. (NYSE:ED)

SWS Partners raised its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 11.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,563 shares of the utilities provider’s stock after purchasing an additional 2,150 shares during the quarter. SWS Partners’ holdings in Consolidated Edison were worth $1,835,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Capital Performance Advisors LLP bought a new position in shares of Consolidated Edison during the 3rd quarter worth approximately $27,000. Ashton Thomas Securities LLC bought a new position in shares of Consolidated Edison during the third quarter valued at $30,000. AlphaMark Advisors LLC acquired a new stake in shares of Consolidated Edison in the 4th quarter valued at $27,000. Centricity Wealth Management LLC acquired a new position in Consolidated Edison in the fourth quarter valued at about $39,000. Finally, FSA Wealth Management LLC acquired a new position in shares of Consolidated Edison in the 3rd quarter worth approximately $55,000. 66.29% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. UBS Group raised their price objective on shares of Consolidated Edison from $105.00 to $110.00 and gave the company a “neutral” rating in a research report on Tuesday, February 25th. Mizuho upped their price objective on Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Morgan Stanley lowered their target price on Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating for the company in a research note on Friday, November 22nd. Barclays upped their price target on Consolidated Edison from $92.00 to $95.00 and gave the company an “underweight” rating in a research note on Monday, February 24th. Finally, Scotiabank lifted their price objective on Consolidated Edison from $100.00 to $101.00 and gave the stock a “sector perform” rating in a research report on Monday, February 24th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Consolidated Edison presently has a consensus rating of “Hold” and a consensus price target of $101.50.

Consolidated Edison Trading Up 2.5 %

NYSE:ED opened at $104.09 on Tuesday. 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, Inc. has a 1-year low of $86.56 and a 1-year high of $107.75. The firm has a market capitalization of $36.09 billion, a price-to-earnings ratio of 19.86, a PEG ratio of 3.05 and a beta of 0.39. The business’s 50-day moving average price is $93.42 and its two-hundred day moving average price is $97.97.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings results on Thursday, February 20th. The utilities provider reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.01. The business 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 expect that Consolidated Edison, Inc. will post 5.62 earnings per share for the current year.

Consolidated Edison Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Wednesday, February 19th will be issued a $0.85 dividend. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.83. The ex-dividend date is Wednesday, February 19th. This represents a $3.40 annualized dividend and a dividend yield of 3.27%. Consolidated Edison’s payout ratio is 64.89%.

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.