Revolve Wealth Partners LLC Purchases 441 Shares of Consolidated Edison, Inc. (NYSE:ED)

Revolve Wealth Partners LLC raised its holdings in shares of Consolidated Edison, Inc. (NYSE:ED) by 13.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,721 shares of the utilities provider’s stock after acquiring an additional 441 shares during the period. Revolve Wealth Partners LLC’s holdings in Consolidated Edison were worth $332,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Point72 Asset Management L.P. raised its position in Consolidated Edison by 1,766.0% in the 3rd quarter. Point72 Asset Management L.P. now owns 988,961 shares of the utilities provider’s stock worth $102,980,000 after purchasing an additional 935,962 shares during the period. FMR LLC increased its holdings in shares of Consolidated Edison by 82.3% in the third quarter. FMR LLC now owns 1,268,424 shares of the utilities provider’s stock worth $132,081,000 after buying an additional 572,530 shares during the period. International Assets Investment Management LLC increased its stake in Consolidated Edison by 10,262.1% in the 3rd quarter. International Assets Investment Management LLC now owns 553,546 shares of the utilities provider’s stock worth $57,641,000 after purchasing an additional 548,204 shares during the period. National Bank of Canada FI boosted its stake in shares of Consolidated Edison by 350.6% during the third quarter. National Bank of Canada FI now owns 620,705 shares of the utilities provider’s stock valued at $64,634,000 after purchasing an additional 482,953 shares during the period. Finally, State Street Corp boosted its stake in shares of Consolidated Edison by 1.7% during the third quarter. State Street Corp now owns 23,429,218 shares of the utilities provider’s stock valued at $2,439,684,000 after purchasing an additional 399,034 shares during the period. 66.29% of the stock is owned by hedge funds and other institutional investors.

Consolidated Edison Price Performance

Shares of ED stock opened at $94.87 on Tuesday. The business’s fifty day moving average is $92.88 and its 200 day moving average is $98.07. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07. The stock has a market cap of $32.87 billion, a price-to-earnings ratio of 17.87, a PEG ratio of 2.89 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.

Consolidated Edison (NYSE:ED) last announced its earnings results on Thursday, November 7th. The utilities provider reported $1.68 EPS for the quarter, beating analysts’ consensus estimates of $1.56 by $0.12. The firm had revenue of $4.09 billion for the quarter, compared to analysts’ expectations of $4.02 billion. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.70%. Research analysts expect 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. Shareholders of record on Wednesday, February 19th will be issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date of this dividend is Wednesday, February 19th. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.83. Consolidated Edison’s dividend payout ratio is 64.03%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ED. Morgan Stanley lowered their price target 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. Barclays lowered their price objective on shares of Consolidated Edison from $99.00 to $92.00 and set an “underweight” rating for the company in a research note on Monday. Evercore ISI downgraded Consolidated Edison from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 21st. Jefferies Financial Group assumed coverage on Consolidated Edison in a research report on Wednesday, October 9th. They set a “hold” rating and a $108.00 price target for the company. Finally, Citigroup raised Consolidated Edison from a “neutral” rating to a “buy” rating and boosted their target price for the company 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, eight have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Consolidated Edison presently has an average rating of “Hold” and an average price target of $100.00.

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.