Imprint Wealth LLC Purchases 214 Shares of Consolidated Edison, Inc. (NYSE:ED)

Imprint Wealth LLC lifted its position in Consolidated Edison, Inc. (NYSE:ED) by 5.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,346 shares of the utilities provider’s stock after buying an additional 214 shares during the period. Imprint Wealth LLC’s holdings in Consolidated Edison were worth $395,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Retirement Group LLC boosted its stake in Consolidated Edison by 74.8% in the 4th quarter. Retirement Group LLC now owns 271 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 116 shares during the period. Financial Gravity Asset Management Inc. boosted its stake in Consolidated Edison by 215.6% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 284 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 194 shares during the period. Level Financial Advisors Inc. acquired a new position in shares of Consolidated Edison during the 3rd quarter worth about $26,000. Tyler Stone Wealth Management acquired a new position in shares of Consolidated Edison during the 2nd quarter worth about $28,000. Finally, Turtle Creek Wealth Advisors LLC acquired a new position in shares of Consolidated Edison during the 4th quarter worth about $29,000. 66.29% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently commented on ED shares. UBS Group reduced their price objective on shares of Consolidated Edison from $99.00 to $94.00 and set a “neutral” rating for the company in a research note on Friday, February 16th. Scotiabank raised their target price on shares of Consolidated Edison from $90.00 to $91.00 and gave the company a “sector underperform” rating in a research note on Tuesday, February 20th. Barclays raised their target price on shares of Consolidated Edison from $86.00 to $87.00 and gave the company an “equal weight” rating in a research note on Thursday, March 14th. Royal Bank of Canada cut their target price on shares of Consolidated Edison from $94.00 to $93.00 and set a “sector perform” rating for the company in a research note on Friday, February 16th. Finally, KeyCorp raised shares of Consolidated Edison from an “underweight” rating to a “sector weight” rating in a report on Thursday, January 4th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Consolidated Edison currently has an average rating of “Hold” and an average price target of $87.96.

Consolidated Edison Price Performance

Shares of NYSE ED traded down $1.27 during trading hours on Tuesday, hitting $88.05. 526,923 shares of the stock were exchanged, compared to its average volume of 1,749,938. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.94 and a current ratio of 1.01. The company has a market cap of $30.42 billion, a PE ratio of 12.44, a price-to-earnings-growth ratio of 8.36 and a beta of 0.35. The company’s fifty day simple moving average is $88.90 and its two-hundred day simple moving average is $89.52. Consolidated Edison, Inc. has a 1-year low of $80.46 and a 1-year high of $100.92.

Consolidated Edison (NYSE:ED) last issued its earnings results on Thursday, February 15th. The utilities provider reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.02. The firm had revenue of $3.44 billion for the quarter, compared to analyst estimates of $3.70 billion. Consolidated Edison had a net margin of 17.19% and a return on equity of 8.41%. The company’s quarterly revenue was down 14.6% on a year-over-year basis. During the same quarter last year, the business posted $0.81 earnings per share. On average, sell-side analysts predict that Consolidated Edison, Inc. will post 5.3 EPS for the current year.

Consolidated Edison Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Wednesday, February 14th were issued a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.77%. The ex-dividend date of this dividend was Tuesday, February 13th. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.81. Consolidated Edison’s payout ratio is 46.24%.

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.