Wealth Quarterback LLC Acquires Shares of 2,008 Consolidated Edison, Inc. (NYSE:ED)

Wealth Quarterback LLC acquired a new position in shares of Consolidated Edison, Inc. (NYSE:ED) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 2,008 shares of the utilities provider’s stock, valued at approximately $209,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of ED. Pathway Financial Advisers LLC increased its position in Consolidated Edison by 10,302.6% during the third quarter. Pathway Financial Advisers LLC now owns 24,446 shares of the utilities provider’s stock worth $2,546,000 after acquiring an additional 24,211 shares during the period. Sei Investments Co. raised its position in shares of Consolidated Edison by 57.4% in the first quarter. Sei Investments Co. now owns 244,404 shares of the utilities provider’s stock valued at $22,193,000 after buying an additional 89,080 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in shares of Consolidated Edison by 153.9% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 245,802 shares of the utilities provider’s stock valued at $22,321,000 after buying an additional 148,988 shares during the period. Mizuho Markets Americas LLC grew its position in Consolidated Edison by 121.1% during the first quarter. Mizuho Markets Americas LLC now owns 113,675 shares of the utilities provider’s stock worth $10,323,000 after buying an additional 62,260 shares in the last quarter. Finally, Plato Investment Management Ltd grew its position in Consolidated Edison by 17,683.9% during the first quarter. Plato Investment Management Ltd now owns 9,959 shares of the utilities provider’s stock worth $904,000 after buying an additional 9,903 shares in the last quarter. Institutional investors and hedge funds own 66.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on ED shares. Citigroup raised Consolidated Edison from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $103.00 to $116.00 in a report on Tuesday, October 15th. Morgan Stanley increased their price objective on shares of Consolidated Edison from $82.00 to $87.00 and gave the stock an “underweight” rating in a research note on Wednesday, September 25th. Scotiabank increased their price target on shares of Consolidated Edison from $85.00 to $90.00 and gave the stock a “sector underperform” rating in a research report on Tuesday, August 20th. Barclays cut their target price on Consolidated Edison from $104.00 to $99.00 and set an “underweight” rating for the company in a research note on Friday. Finally, Bank of America upped their price objective on Consolidated Edison from $97.00 to $109.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $98.35.

Consolidated Edison Stock Up 0.6 %

NYSE:ED opened at $98.16 on Friday. Consolidated Edison, Inc. has a one year low of $85.85 and a one year high of $107.75. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.04 and a quick ratio of 0.97. The company has a market cap of $33.98 billion, a PE ratio of 18.49, a P/E/G ratio of 3.34 and a beta of 0.36. The firm’s 50 day simple moving average is $103.35 and its 200 day simple moving average is $97.89.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Thursday, November 7th. The utilities provider reported $1.68 EPS for the quarter, topping analysts’ consensus estimates of $1.56 by $0.12. The company had revenue of $4.09 billion for the quarter, compared to analyst estimates of $4.02 billion. Consolidated Edison had a net margin of 12.03% and a return on equity of 8.67%. On average, research analysts anticipate that Consolidated Edison, Inc. will post 5.31 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Wednesday, November 13th will be given a $0.83 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.38%. Consolidated Edison’s dividend payout ratio (DPR) is presently 62.52%.

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.