CHICAGO TRUST Co NA Increases Stock Holdings in Consolidated Edison, Inc. (NYSE:ED)

CHICAGO TRUST Co NA raised its position in Consolidated Edison, Inc. (NYSE:ED) by 34.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,683 shares of the utilities provider’s stock after acquiring an additional 4,000 shares during the quarter. CHICAGO TRUST Co NA’s holdings in Consolidated Edison were worth $1,399,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of ED. Capital Performance Advisors LLP acquired a new stake in Consolidated Edison in the 3rd quarter valued at about $27,000. Ashton Thomas Securities LLC acquired a new stake in Consolidated Edison in the third quarter valued at approximately $30,000. Future Financial Wealth Managment LLC purchased a new stake in shares of Consolidated Edison in the 3rd quarter valued at approximately $55,000. FSA Wealth Management LLC purchased a new stake in shares of Consolidated Edison during the 3rd quarter worth $55,000. Finally, Webster Bank N. A. lifted its position in shares of Consolidated Edison by 189.5% during the 3rd quarter. Webster Bank N. A. now owns 579 shares of the utilities provider’s stock worth $60,000 after purchasing an additional 379 shares during the last quarter. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Jefferies Financial Group assumed coverage on Consolidated Edison in a research note on Wednesday, October 9th. They issued a “hold” rating and a $108.00 price target on the stock. UBS Group increased their target price on shares of Consolidated Edison from $105.00 to $106.00 and gave the company a “neutral” rating in a research report on Friday, September 20th. Scotiabank raised Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and raised their price objective for the stock from $90.00 to $100.00 in a report on Thursday, December 12th. Evercore ISI raised Consolidated Edison from a “hold” rating to a “strong-buy” rating in a report on Friday, November 8th. Finally, Citigroup raised Consolidated Edison from a “neutral” rating to a “buy” rating and increased their price objective for the company from $103.00 to $116.00 in a report on Tuesday, October 15th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $100.64.

Consolidated Edison Price Performance

Consolidated Edison stock traded down $0.64 during midday trading on Monday, reaching $87.51. The company’s stock had a trading volume of 452,800 shares, compared to its average volume of 1,829,540. The firm has a market capitalization of $30.31 billion, a PE ratio of 16.48, a P/E/G ratio of 3.11 and a beta of 0.38. Consolidated Edison, Inc. has a fifty-two week low of $85.85 and a fifty-two week high of $107.75. The stock’s 50 day simple moving average is $94.15 and its 200 day simple moving average is $97.91. 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 quarterly earnings data on Thursday, November 7th. The utilities provider reported $1.68 EPS for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $4.02 billion. On average, equities research analysts forecast that Consolidated Edison, Inc. will post 5.34 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Wednesday, November 13th were issued a $0.83 dividend. The ex-dividend date was Wednesday, November 13th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.79%. Consolidated Edison’s dividend payout ratio (DPR) is 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.