Accurate Wealth Management LLC Invests $2.68 Million in Consolidated Edison, Inc. (NYSE:ED)

Accurate Wealth Management LLC acquired a new stake in Consolidated Edison, Inc. (NYSE:ED) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 30,416 shares of the utilities provider’s stock, valued at approximately $2,681,000.

Several other institutional investors have also added to or reduced their stakes in ED. Capital Performance Advisors LLP bought a new position in shares of Consolidated Edison in the 3rd quarter valued at $27,000. Ashton Thomas Securities LLC acquired a new stake in Consolidated Edison in the third quarter valued at about $30,000. Future Financial Wealth Managment LLC acquired a new stake in Consolidated Edison in the third quarter valued at about $55,000. FSA Wealth Management LLC bought a new position in Consolidated Edison in the third quarter valued at about $55,000. Finally, Webster Bank N. A. raised its stake in Consolidated Edison by 189.5% during the third quarter. Webster Bank N. A. now owns 579 shares of the utilities provider’s stock worth $60,000 after acquiring an additional 379 shares in the last quarter. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on ED shares. Morgan Stanley reduced their price target on shares of Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating on the stock in a research note on Friday, November 22nd. Citigroup upgraded shares of Consolidated Edison from a “neutral” rating to a “buy” rating and raised their target price for the company from $103.00 to $116.00 in a research report on Tuesday, October 15th. Scotiabank raised shares of Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and boosted their target price for the stock from $90.00 to $100.00 in a research note on Thursday, December 12th. Evercore ISI upgraded Consolidated Edison from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 8th. Finally, Jefferies Financial Group began coverage on Consolidated Edison in a research report on Wednesday, October 9th. They set a “hold” rating and a $108.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Consolidated Edison presently has a consensus rating of “Hold” and a consensus target price of $100.64.

Consolidated Edison Stock Up 0.9 %

Shares of ED opened at $89.28 on Wednesday. The stock’s 50-day moving average price is $93.72 and its two-hundred day moving average price is $97.90. Consolidated Edison, Inc. has a 12 month low of $85.85 and a 12 month high of $107.75. The company has a market capitalization of $30.93 billion, a PE ratio of 16.81, a PEG ratio of 3.11 and a beta of 0.38. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.07.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings data on Thursday, November 7th. The utilities provider reported $1.68 EPS for the quarter, topping analysts’ consensus estimates of $1.56 by $0.12. Consolidated Edison had a return on equity of 8.70% and a net margin of 12.27%. The company had revenue of $4.09 billion for the quarter, compared to analyst estimates of $4.02 billion. On average, analysts anticipate that Consolidated Edison, Inc. will post 5.34 EPS for the current year.

Consolidated Edison Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Wednesday, November 13th were given a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 3.72%. The ex-dividend date of this dividend was Wednesday, November 13th. Consolidated Edison’s dividend payout ratio (DPR) is presently 62.52%.

Consolidated Edison Company 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.