XML Financial LLC Buys New Stake in Consolidated Edison, Inc. (NYSE:ED)

XML Financial LLC bought a new stake in Consolidated Edison, Inc. (NYSE:EDFree Report) in the fourth quarter, HoldingsChannel.com reports. The fund bought 3,345 shares of the utilities provider’s stock, valued at approximately $304,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of ED. Elo Mutual Pension Insurance Co lifted its position in Consolidated Edison by 3.4% in the fourth quarter. Elo Mutual Pension Insurance Co now owns 29,991 shares of the utilities provider’s stock worth $2,728,000 after buying an additional 987 shares during the last quarter. Personal CFO Solutions LLC lifted its position in shares of Consolidated Edison by 20.6% during the fourth quarter. Personal CFO Solutions LLC now owns 3,079 shares of the utilities provider’s stock worth $280,000 after purchasing an additional 525 shares during the last quarter. Sompo Asset Management Co. Ltd. lifted its position in shares of Consolidated Edison by 8.7% during the fourth quarter. Sompo Asset Management Co. Ltd. now owns 3,260 shares of the utilities provider’s stock worth $297,000 after purchasing an additional 260 shares during the last quarter. Wealth Quarterback LLC bought a new stake in shares of Consolidated Edison during the fourth quarter worth $200,000. Finally, Vinva Investment Management Ltd lifted its position in shares of Consolidated Edison by 18.8% during the fourth quarter. Vinva Investment Management Ltd now owns 9,520 shares of the utilities provider’s stock worth $863,000 after purchasing an additional 1,507 shares during the last quarter. 66.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Scotiabank decreased their target price on Consolidated Edison from $91.00 to $85.00 and set a “sector underperform” rating for the company in a research report on Monday, April 22nd. Argus upgraded Consolidated Edison to a “strong-buy” rating in a research report on Friday. UBS Group decreased their target price on Consolidated Edison from $99.00 to $94.00 and set a “neutral” rating for the company in a research report on Friday, February 16th. Barclays lifted their target price on Consolidated Edison from $89.00 to $97.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 7th. Finally, Wells Fargo & Company raised their price target on Consolidated Edison from $93.00 to $97.00 and gave the company an “equal weight” rating in a research note on Friday, May 3rd. Three analysts have rated the stock with a sell rating, eight have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Consolidated Edison has a consensus rating of “Hold” and a consensus target price of $89.58.

Check Out Our Latest Report on Consolidated Edison

Consolidated Edison Price Performance

ED opened at $92.32 on Tuesday. The business’s 50-day moving average is $93.39 and its two-hundred day moving average is $91.21. Consolidated Edison, Inc. has a 1 year low of $80.46 and a 1 year high of $98.85. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.99 and a quick ratio of 0.92. The firm has a market capitalization of $31.93 billion, a PE ratio of 17.72, a price-to-earnings-growth ratio of 2.32 and a beta of 0.35.

Consolidated Edison (NYSE:EDGet Free Report) last posted its earnings results on Thursday, May 2nd. The utilities provider reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.26. Consolidated Edison had a return on equity of 8.79% and a net margin of 12.43%. The company had revenue of $4.28 billion for the quarter, compared to analyst estimates of $4.40 billion. During the same quarter in the previous year, the firm earned $1.83 earnings per share. The firm’s quarterly revenue was down 2.8% compared to the same quarter last year. Research analysts anticipate that Consolidated Edison, Inc. will post 5.34 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Wednesday, May 15th will be paid a $0.83 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $3.32 annualized dividend and a yield of 3.60%. Consolidated Edison’s dividend payout ratio (DPR) is presently 63.72%.

Consolidated Edison Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Consolidated Edison (NYSE:ED)

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