Dumont & Blake Investment Advisors LLC Has $394,000 Stock Holdings in Consolidated Edison, Inc. (NYSE:ED)

Dumont & Blake Investment Advisors LLC decreased its position in shares of Consolidated Edison, Inc. (NYSE:ED) by 50.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,784 shares of the utilities provider’s stock after selling 3,784 shares during the period. Dumont & Blake Investment Advisors LLC’s holdings in Consolidated Edison were worth $394,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ED. Sei Investments Co. lifted its holdings in shares of Consolidated Edison by 57.4% during the 1st 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 during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in 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 worth $22,321,000 after acquiring an additional 148,988 shares in the last quarter. Mizuho Markets Americas LLC increased its stake in shares of Consolidated Edison by 121.1% during the 1st quarter. Mizuho Markets Americas LLC now owns 113,675 shares of the utilities provider’s stock worth $10,323,000 after purchasing an additional 62,260 shares during the last quarter. Plato Investment Management Ltd increased its stake in shares of Consolidated Edison by 17,683.9% during the 1st quarter. Plato Investment Management Ltd now owns 9,959 shares of the utilities provider’s stock worth $904,000 after purchasing an additional 9,903 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Consolidated Edison by 11.3% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 109,630 shares of the utilities provider’s stock valued at $10,112,000 after purchasing an additional 11,165 shares in the last quarter. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on ED. Bank of America increased their target price on shares of Consolidated Edison from $97.00 to $109.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Guggenheim raised their price objective on Consolidated Edison from $88.00 to $91.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. UBS Group upped their target price on Consolidated Edison from $105.00 to $106.00 and gave the stock a “neutral” rating in a research report on Friday, September 20th. Jefferies Financial Group started coverage on shares of Consolidated Edison in a research report on Wednesday, October 9th. They issued a “hold” rating and a $108.00 price target on the stock. Finally, Scotiabank boosted their price objective on shares of Consolidated Edison from $85.00 to $90.00 and gave the stock a “sector underperform” rating in a research note on Tuesday, August 20th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $98.73.

Consolidated Edison Stock Performance

NYSE:ED opened at $104.60 on Friday. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.97 and a current ratio of 1.04. The firm’s 50-day moving average is $103.26 and its 200-day moving average is $97.05. Consolidated Edison, Inc. has a 52-week low of $85.85 and a 52-week high of $107.75. The company has a market cap of $36.17 billion, a price-to-earnings ratio of 20.08, a PEG ratio of 3.46 and a beta of 0.36.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.59 EPS 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 during the quarter, compared to analysts’ expectations of $3.08 billion. During the same quarter in the prior year, the firm posted $0.61 EPS. Equities research analysts anticipate that Consolidated Edison, Inc. will post 5.3 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Wednesday, November 13th will be paid a dividend of $0.83 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $3.32 dividend on an annualized basis and a yield of 3.17%. Consolidated Edison’s dividend payout ratio is currently 63.72%.

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.