Argentarii LLC Acquires New Holdings in Consolidated Edison, Inc. (NYSE:ED)

Argentarii LLC acquired a new stake in Consolidated Edison, Inc. (NYSE:ED) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 2,284 shares of the utilities provider’s stock, valued at approximately $204,000.

Several other hedge funds have also recently bought and sold shares of ED. Graypoint LLC raised its position in shares of Consolidated Edison by 10.5% during the 3rd quarter. Graypoint LLC now owns 2,666 shares of the utilities provider’s stock worth $278,000 after buying an additional 253 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Consolidated Edison by 5.1% during the 3rd quarter. Principal Financial Group Inc. now owns 477,722 shares of the utilities provider’s stock worth $49,745,000 after buying an additional 23,024 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in shares of Consolidated Edison during the 3rd quarter worth about $27,000. CWA Asset Management Group LLC bought a new stake in shares of Consolidated Edison during the 3rd quarter worth about $564,000. Finally, SpiderRock Advisors LLC raised its position in shares of Consolidated Edison by 18.2% during the 3rd quarter. SpiderRock Advisors LLC now owns 6,690 shares of the utilities provider’s stock worth $697,000 after buying an additional 1,029 shares in the last quarter. 66.29% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on ED shares. Scotiabank boosted their price target 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 target on shares of Consolidated Edison from $105.00 to $110.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 25th. Barclays boosted their price target on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock an “underweight” rating in a research report on Monday, February 24th. Mizuho boosted their price target on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Finally, Evercore ISI cut shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 21st. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $101.50.

Consolidated Edison Stock Performance

Shares of ED opened at $103.73 on Monday. The firm’s 50 day moving average is $94.39 and its 200-day moving average is $98.01. The stock has a market capitalization of $35.97 billion, a P/E ratio of 19.80, a P/E/G ratio of 3.05 and a beta of 0.30. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93. Consolidated Edison, Inc. has a 12-month low of $87.16 and a 12-month high of $107.75.

Consolidated Edison (NYSE:ED) last released its earnings results on Thursday, February 20th. The utilities provider reported $0.98 earnings per share for the quarter, topping the consensus estimate 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%. Equities research analysts anticipate that Consolidated Edison, Inc. will post 5.62 EPS for the current fiscal year.

Consolidated Edison Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Wednesday, February 19th will be given a $0.85 dividend. 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 3.28%. The ex-dividend date of this dividend is Wednesday, February 19th. Consolidated Edison’s dividend payout ratio (DPR) is 64.89%.

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.