Atomi Financial Group Inc. Has $416,000 Stock Holdings in Consolidated Edison, Inc. (NYSE:ED)

Atomi Financial Group Inc. boosted its stake in Consolidated Edison, Inc. (NYSE:ED) by 7.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 4,659 shares of the utilities provider’s stock after buying an additional 311 shares during the period. Atomi Financial Group Inc.’s holdings in Consolidated Edison were worth $416,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of ED. Ballentine Partners LLC increased its stake in shares of Consolidated Edison by 36.0% during the fourth quarter. Ballentine Partners LLC now owns 5,788 shares of the utilities provider’s stock worth $516,000 after purchasing an additional 1,532 shares during the period. MassMutual Private Wealth & Trust FSB increased its position in Consolidated Edison by 0.8% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 21,435 shares of the utilities provider’s stock worth $1,913,000 after buying an additional 163 shares during the period. Ballast Inc. increased its position in Consolidated Edison by 4.0% during the 4th quarter. Ballast Inc. now owns 16,052 shares of the utilities provider’s stock worth $1,432,000 after buying an additional 610 shares during the period. Aaron Wealth Advisors LLC boosted its position in shares of Consolidated Edison by 20.0% in the fourth quarter. Aaron Wealth Advisors LLC now owns 8,177 shares of the utilities provider’s stock valued at $730,000 after acquiring an additional 1,363 shares during the period. Finally, Astoria Portfolio Advisors LLC. grew its stake in shares of Consolidated Edison by 20.1% in the fourth quarter. Astoria Portfolio Advisors LLC. now owns 2,350 shares of the utilities provider’s stock valued at $210,000 after acquiring an additional 393 shares in the last quarter. 66.29% of the stock is owned by institutional investors.

Consolidated Edison Price Performance

ED stock opened at $90.66 on Friday. The stock has a market cap of $31.41 billion, a price-to-earnings ratio of 17.07, a P/E/G ratio of 2.89 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 company has a 50 day simple moving average of $92.99 and a 200 day simple moving average of $97.93. Consolidated Edison, Inc. has a 1 year low of $85.85 and a 1 year high of $107.75.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings results on Thursday, November 7th. The utilities provider reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.56 by $0.12. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.70%. The company had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $4.02 billion. Research analysts anticipate that Consolidated Edison, Inc. will post 5.35 EPS for the current fiscal year.

Consolidated Edison Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Wednesday, February 19th will be paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.75%. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend is Wednesday, February 19th. Consolidated Edison’s dividend payout ratio (DPR) is presently 64.03%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Jefferies Financial Group started coverage on shares of Consolidated Edison in a research note on Wednesday, October 9th. They issued a “hold” rating and a $108.00 price objective for the company. Citigroup upgraded Consolidated Edison from a “neutral” rating to a “buy” rating and boosted their price target for the company from $103.00 to $116.00 in a research note on Tuesday, October 15th. Barclays lowered their price objective on Consolidated Edison from $104.00 to $99.00 and set an “underweight” rating on the stock in a research note on Friday, November 8th. Scotiabank upgraded Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and upped their target price for the company from $90.00 to $100.00 in a research report on Thursday, December 12th. Finally, Morgan Stanley decreased their price target on Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating on the stock in a research report on Friday, November 22nd. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Consolidated Edison presently has a consensus rating of “Hold” and a consensus price target of $100.64.

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.