Joseph P. Lucia & Associates LLC Has $780,000 Stock Holdings in Consolidated Edison, Inc. (NYSE:ED)

Joseph P. Lucia & Associates LLC lifted its position in Consolidated Edison, Inc. (NYSE:ED) by 1.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 8,745 shares of the utilities provider’s stock after purchasing an additional 162 shares during the quarter. Joseph P. Lucia & Associates LLC’s holdings in Consolidated Edison were worth $780,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in ED. Capital Performance Advisors LLP acquired a new position in Consolidated Edison during the 3rd quarter worth about $27,000. Ashton Thomas Securities LLC acquired a new stake in shares of Consolidated Edison in the third quarter valued at approximately $30,000. AlphaMark Advisors LLC bought a new position in Consolidated Edison in the 4th quarter worth approximately $27,000. FSA Wealth Management LLC acquired a new position in Consolidated Edison during the 3rd quarter worth $55,000. Finally, Future Financial Wealth Managment LLC acquired a new stake in shares of Consolidated Edison in the 3rd quarter valued at $55,000. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Stock Performance

Shares of ED opened at $94.87 on Tuesday. The firm’s 50 day moving average price is $92.88 and its two-hundred day moving average price is $98.07. 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, Inc. has a twelve month low of $85.85 and a twelve month high of $107.75. The firm has a market cap of $32.86 billion, a P/E ratio of 17.87, a PEG ratio of 2.89 and a beta of 0.38.

Consolidated Edison (NYSE:ED) last released its earnings results 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 firm had revenue of $4.09 billion during 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, analysts forecast that Consolidated Edison, Inc. will post 5.35 EPS for the current fiscal year.

Consolidated Edison Increases Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Wednesday, February 19th. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.83. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.58%. Consolidated Edison’s dividend payout ratio (DPR) is 62.52%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Citigroup upgraded Consolidated Edison from a “neutral” rating to a “buy” rating and raised their price target for the company from $103.00 to $116.00 in a report on Tuesday, October 15th. Scotiabank raised shares of Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and boosted their price target for the stock from $90.00 to $100.00 in a research note on Thursday, December 12th. Morgan Stanley lowered their target price on shares of Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating for the company in a report on Friday, November 22nd. Evercore ISI lowered Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 21st. Finally, Barclays dropped their price objective on Consolidated Edison from $99.00 to $92.00 and set an “underweight” rating for the company in a report on Monday. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Consolidated Edison has a consensus rating of “Hold” and a consensus price target of $100.00.

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.