Nisa Investment Advisors LLC Buys 3,135 Shares of Consolidated Edison, Inc. (NYSE:ED)

Nisa Investment Advisors LLC increased its position in Consolidated Edison, Inc. (NYSE:ED) by 2.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 132,754 shares of the utilities provider’s stock after purchasing an additional 3,135 shares during the period. Nisa Investment Advisors LLC’s holdings in Consolidated Edison were worth $11,846,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of ED. Capital Performance Advisors LLP bought a new position in shares of Consolidated Edison in the third quarter worth approximately $27,000. Ashton Thomas Securities LLC purchased a new position in Consolidated Edison in the 3rd quarter worth approximately $30,000. Future Financial Wealth Managment LLC bought a new position in Consolidated Edison in the 3rd quarter valued at approximately $55,000. FSA Wealth Management LLC purchased a new stake in Consolidated Edison during the 3rd quarter valued at $55,000. Finally, Webster Bank N. A. raised its stake in shares of Consolidated Edison by 189.5% in the third 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 owned by hedge funds and other institutional investors.

Consolidated Edison Stock Down 0.0 %

ED stock opened at $90.75 on Friday. The stock has a market cap of $31.44 billion, a P/E ratio of 17.09, a PEG ratio of 2.97 and a beta of 0.38. Consolidated Edison, Inc. has a twelve month low of $85.85 and a twelve month high of $107.75. The business’s 50-day moving average price is $93.08 and its 200-day moving average price is $97.98. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07.

Consolidated Edison (NYSE:ED) last issued its earnings results on Thursday, November 7th. The utilities provider reported $1.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.56 by $0.12. Consolidated Edison had a return on equity of 8.70% and a net margin of 12.27%. The company 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 5.35 EPS for the current year.

Consolidated Edison Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Wednesday, February 19th will be given a dividend of $0.85 per share. 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 dividend on an annualized basis and a dividend yield of 3.75%. Consolidated Edison’s dividend payout ratio (DPR) is presently 62.52%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Evercore ISI upgraded Consolidated Edison from a “hold” rating to a “strong-buy” rating in a report on Friday, November 8th. Jefferies Financial Group initiated coverage on shares of Consolidated Edison in a research note on Wednesday, October 9th. They issued a “hold” rating and a $108.00 price target for the company. Morgan Stanley dropped their target price on shares of Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating on the stock in a report on Friday, November 22nd. Scotiabank upgraded shares of Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and boosted their target price for the company from $90.00 to $100.00 in a research note on Thursday, December 12th. Finally, Citigroup upgraded Consolidated Edison from a “neutral” rating to a “buy” rating and raised their price target for the stock from $103.00 to $116.00 in a research note on Tuesday, October 15th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $100.64.

Consolidated Edison Company 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.