2,920 Shares in Consolidated Edison, Inc. (NYSE:ED) Purchased by Fiduciary Planning LLC

Fiduciary Planning LLC acquired a new position in shares of Consolidated Edison, Inc. (NYSE:ED) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 2,920 shares of the utilities provider’s stock, valued at approximately $304,000.

A number of other large investors have also recently bought and sold shares of the company. ProShare Advisors LLC boosted its position in Consolidated Edison by 6.6% during the 1st quarter. ProShare Advisors LLC now owns 2,000,741 shares of the utilities provider’s stock worth $181,687,000 after buying an additional 123,654 shares during the period. Hsbc Holdings PLC increased its stake in shares of Consolidated Edison by 0.8% in the 2nd quarter. Hsbc Holdings PLC now owns 1,502,523 shares of the utilities provider’s stock valued at $134,323,000 after acquiring an additional 11,785 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Consolidated Edison by 11.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,273,115 shares of the utilities provider’s stock valued at $113,845,000 after purchasing an additional 125,859 shares during the period. Clean Energy Transition LLP grew its position in Consolidated Edison by 227.9% in the 2nd quarter. Clean Energy Transition LLP now owns 897,553 shares of the utilities provider’s stock valued at $80,259,000 after purchasing an additional 623,787 shares during the period. Finally, BNP Paribas Financial Markets grew its position in Consolidated Edison by 14.6% in the 1st quarter. BNP Paribas Financial Markets now owns 720,573 shares of the utilities provider’s stock valued at $65,435,000 after purchasing an additional 91,559 shares during the period. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Consolidated Edison Price Performance

Shares of ED remained flat at $107.40 during midday trading on Thursday. The stock had a trading volume of 104,875 shares, compared to its average volume of 1,828,497. The stock’s 50 day moving average is $103.10 and its 200-day moving average is $96.98. Consolidated Edison, Inc. has a 12-month low of $85.85 and a 12-month high of $107.75. The firm has a market cap of $37.14 billion, a price-to-earnings ratio of 20.61, a P/E/G ratio of 3.46 and a beta of 0.36. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.97 and a current ratio of 1.04.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.02. Consolidated Edison had a return on equity of 8.67% and a net margin of 12.03%. The firm had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $3.08 billion. During the same period in the prior year, the business posted $0.61 earnings per share. Sell-side analysts forecast that Consolidated Edison, Inc. will post 5.3 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Wednesday, November 13th will be given a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 3.09%. The ex-dividend date is Wednesday, November 13th. Consolidated Edison’s dividend payout ratio is presently 63.72%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Scotiabank lifted their price objective on shares of Consolidated Edison from $85.00 to $90.00 and gave the stock a “sector underperform” rating in a report on Tuesday, August 20th. Guggenheim lifted their price objective on shares of Consolidated Edison from $88.00 to $91.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. UBS Group lifted their price objective on shares of Consolidated Edison from $105.00 to $106.00 and gave the stock a “neutral” rating in a report on Friday, September 20th. Barclays boosted their price target on shares of Consolidated Edison from $98.00 to $104.00 and gave the stock an “underweight” rating in a report on Monday. Finally, Morgan Stanley boosted their price target on shares of Consolidated Edison from $82.00 to $87.00 and gave the stock an “underweight” rating in a report on Wednesday, September 25th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $98.73.

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.