Burns J W & Co. Inc. NY Has $587,000 Holdings in Consolidated Edison, Inc. (NYSE:ED)

Burns J W & Co. Inc. NY lowered its position in Consolidated Edison, Inc. (NYSE:ED) by 5.7% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 6,580 shares of the utilities provider’s stock after selling 400 shares during the period. Burns J W & Co. Inc. NY’s holdings in Consolidated Edison were worth $587,000 as of its most recent filing with the SEC.

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

Consolidated Edison Stock Performance

Shares of ED traded up $0.23 during trading hours on Monday, hitting $88.38. The company’s stock had a trading volume of 1,857,026 shares, compared to its average volume of 2,035,227. The company has a market cap of $30.62 billion, a price-to-earnings ratio of 16.64, a PEG ratio of 3.11 and a beta of 0.38. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93. The business has a 50 day simple moving average of $94.15 and a two-hundred day simple moving average of $97.91. Consolidated Edison, Inc. has a 52-week low of $85.85 and a 52-week high of $107.75.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings data on Thursday, November 7th. The utilities provider reported $1.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.56 by $0.12. The business had revenue of $4.09 billion for the quarter, compared to analysts’ expectations of $4.02 billion. Consolidated Edison had a return on equity of 8.70% and a net margin of 12.27%. On average, equities analysts expect that Consolidated Edison, Inc. will post 5.34 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Wednesday, November 13th were given a dividend of $0.83 per share. The ex-dividend date was Wednesday, November 13th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.76%. Consolidated Edison’s dividend payout ratio (DPR) is currently 62.52%.

Analysts Set New Price Targets

ED has been the subject of several research reports. Jefferies Financial Group began coverage on Consolidated Edison in a research note on Wednesday, October 9th. They issued a “hold” rating and a $108.00 target price for the company. Citigroup raised shares of Consolidated Edison from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $103.00 to $116.00 in a research report on Tuesday, October 15th. Barclays decreased their price objective on Consolidated Edison from $104.00 to $99.00 and set an “underweight” rating for the company in a report on Friday, November 8th. UBS Group upped their target price on shares of Consolidated Edison from $105.00 to $106.00 and gave the stock a “neutral” rating in a research note on Friday, September 20th. Finally, Evercore ISI raised shares of Consolidated Edison from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 8th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Consolidated Edison presently has an average rating of “Hold” and a consensus price target of $100.64.

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.