Guardian Wealth Advisors LLC Trims Stock Holdings in Consolidated Edison, Inc. (NYSE:ED)

Guardian Wealth Advisors LLC lowered its holdings in shares of Consolidated Edison, Inc. (NYSE:ED) by 2.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,177 shares of the utilities provider’s stock after selling 165 shares during the quarter. Guardian Wealth Advisors LLC’s holdings in Consolidated Edison were worth $552,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. Corient Private Wealth LLC grew its stake in Consolidated Edison by 4.6% in the fourth quarter. Corient Private Wealth LLC now owns 175,416 shares of the utilities provider’s stock worth $15,958,000 after purchasing an additional 7,725 shares in the last quarter. UBS Group AG raised its holdings in shares of Consolidated Edison by 14.7% in the fourth quarter. UBS Group AG now owns 488,483 shares of the utilities provider’s stock valued at $44,437,000 after acquiring an additional 62,519 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its holdings in shares of Consolidated Edison by 2,486.2% in the first quarter. Massmutual Trust Co. FSB ADV now owns 21,776 shares of the utilities provider’s stock valued at $1,977,000 after acquiring an additional 20,934 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in Consolidated Edison by 35.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 47,466 shares of the utilities provider’s stock worth $4,318,000 after acquiring an additional 12,307 shares in the last quarter. Finally, Sei Investments Co. grew its holdings in Consolidated Edison by 57.4% during the 1st quarter. Sei Investments Co. now owns 244,404 shares of the utilities provider’s stock worth $22,193,000 after acquiring an additional 89,080 shares in the last quarter. Institutional investors own 66.29% of the company’s stock.

Analyst Ratings Changes

ED has been the subject of several research reports. Mizuho upped their price target on shares of Consolidated Edison from $93.00 to $95.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 28th. Wells Fargo & Company lifted their price target on Consolidated Edison from $97.00 to $105.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. UBS Group upped their price objective on Consolidated Edison from $92.00 to $96.00 and gave the stock a “neutral” rating in a research note on Friday, July 19th. Morgan Stanley lifted their target price on Consolidated Edison from $75.00 to $82.00 and gave the company an “underweight” rating in a research note on Friday, August 23rd. Finally, Barclays increased their price target on shares of Consolidated Edison from $92.00 to $98.00 and gave the company an “underweight” rating in a research report on Monday, August 5th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $92.65.

Consolidated Edison Stock Performance

Shares of ED stock opened at $104.56 on Friday. 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 business has a fifty day moving average of $98.73 and a 200 day moving average of $94.05. The firm has a market capitalization of $36.19 billion, a price-to-earnings ratio of 20.07, a price-to-earnings-growth ratio of 3.50 and a beta of 0.36. Consolidated Edison, Inc. has a 1 year low of $80.46 and a 1 year high of $105.99.

Consolidated Edison (NYSE:ED) last released its earnings results on Thursday, August 1st. The utilities provider reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. The firm had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.08 billion. Consolidated Edison had a return on equity of 8.67% and a net margin of 12.03%. During the same quarter in the previous year, the company posted $0.61 earnings per share. As a group, research analysts expect that Consolidated Edison, Inc. will post 5.31 earnings per share for the current year.

Consolidated Edison Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Wednesday, August 14th will be paid a dividend of $0.83 per share. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.18%. Consolidated Edison’s payout ratio is currently 63.72%.

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.