Herold Advisors Inc. Has $1.76 Million Stock Holdings in Consolidated Edison, Inc. (NYSE:ED)

Herold Advisors Inc. increased its holdings in shares of Consolidated Edison, Inc. (NYSE:ED) by 3.8% during the 4th quarter, Holdings Channel reports. The institutional investor owned 19,380 shares of the utilities provider’s stock after acquiring an additional 715 shares during the quarter. Herold Advisors Inc.’s holdings in Consolidated Edison were worth $1,763,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in ED. Bryn Mawr Capital Management LLC acquired a new position in shares of Consolidated Edison in the 4th quarter worth approximately $310,000. Syon Capital LLC lifted its position in shares of Consolidated Edison by 2.3% in the 4th quarter. Syon Capital LLC now owns 5,954 shares of the utilities provider’s stock worth $542,000 after purchasing an additional 136 shares during the period. Tokio Marine Asset Management Co. Ltd. lifted its position in shares of Consolidated Edison by 10.5% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,866 shares of the utilities provider’s stock worth $625,000 after purchasing an additional 651 shares during the period. Atria Wealth Solutions Inc. lifted its position in shares of Consolidated Edison by 2.7% in the 4th quarter. Atria Wealth Solutions Inc. now owns 46,380 shares of the utilities provider’s stock worth $4,219,000 after purchasing an additional 1,213 shares during the period. Finally, Bfsg LLC acquired a new position in shares of Consolidated Edison in the 4th quarter worth approximately $71,000. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Consolidated Edison Stock Performance

Shares of ED stock opened at $92.95 on Friday. The firm has a market capitalization of $32.12 billion, a PE ratio of 12.95, a price-to-earnings-growth ratio of 8.86 and a beta of 0.35. The firm has a fifty day simple moving average of $89.52 and a two-hundred day simple moving average of $89.90. The company has a current ratio of 1.01, a quick ratio of 0.94 and a debt-to-equity ratio of 1.04. Consolidated Edison, Inc. has a 12 month low of $80.46 and a 12 month high of $100.44.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings results on Thursday, February 15th. The utilities provider reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.02. The business had revenue of $3.44 billion during 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%. Consolidated Edison’s quarterly revenue was down 14.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.81 EPS. Analysts forecast that Consolidated Edison, Inc. will post 5.31 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Wednesday, May 15th will be paid a $0.83 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $3.32 annualized dividend and a dividend yield of 3.57%. Consolidated Edison’s payout ratio is 46.24%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on ED shares. LADENBURG THALM/SH SH initiated coverage on shares of Consolidated Edison in a research report on Wednesday, January 3rd. They issued a “neutral” rating and a $92.50 price target on the stock. Barclays lifted their price objective 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 lowered their price objective 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. UBS Group lowered 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. Finally, Scotiabank lowered their price objective on shares of Consolidated Edison from $91.00 to $85.00 and set a “sector underperform” rating for the company in a research note on Monday, April 22nd. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $87.54.

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.