Ashton Thomas Securities LLC Makes New $30,000 Investment in Consolidated Edison, Inc. (NYSE:ED)

Ashton Thomas Securities LLC purchased a new position in Consolidated Edison, Inc. (NYSE:ED) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 287 shares of the utilities provider’s stock, valued at approximately $30,000.

Several other large investors also recently made changes to their positions in ED. Los Angeles Capital Management LLC boosted its position in Consolidated Edison by 5.2% during the third quarter. Los Angeles Capital Management LLC now owns 272,310 shares of the utilities provider’s stock worth $28,356,000 after purchasing an additional 13,342 shares during the period. Mitchell Mcleod Pugh & Williams Inc. bought a new stake in shares of Consolidated Edison during the 3rd quarter worth $211,000. Baker Avenue Asset Management LP acquired a new position in Consolidated Edison in the 3rd quarter valued at $321,000. Mesirow Financial Investment Management Inc. raised its holdings in Consolidated Edison by 3.0% in the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 10,984 shares of the utilities provider’s stock worth $1,144,000 after acquiring an additional 325 shares during the period. Finally, Klingman & Associates LLC lifted its position in Consolidated Edison by 6.5% during the 3rd quarter. Klingman & Associates LLC now owns 2,745 shares of the utilities provider’s stock worth $286,000 after acquiring an additional 168 shares during the last quarter. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Trading Down 0.2 %

Shares of ED stock opened at $95.25 on Friday. The company has a market capitalization of $33.00 billion, a P/E ratio of 17.94, a P/E/G ratio of 3.26 and a beta of 0.36. Consolidated Edison, Inc. has a 12-month low of $85.85 and a 12-month high of $107.75. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07. The firm has a 50-day moving average price of $102.99 and a 200 day moving average price of $98.00.

Consolidated Edison (NYSE:ED) last posted its earnings results on Thursday, November 7th. The utilities provider reported $1.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.56 by $0.12. The company had revenue of $4.09 billion during the quarter, compared to analysts’ expectations of $4.02 billion. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.70%. Research analysts forecast that Consolidated Edison, Inc. will post 5.33 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Wednesday, November 13th will be issued a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 3.49%. The ex-dividend date is Wednesday, November 13th. Consolidated Edison’s payout ratio is presently 62.52%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on ED shares. UBS Group raised their price target on Consolidated Edison from $105.00 to $106.00 and gave the company a “neutral” rating in a research report on Friday, September 20th. Citigroup upgraded Consolidated Edison from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $103.00 to $116.00 in a research report on Tuesday, October 15th. Morgan Stanley boosted their price objective on Consolidated Edison from $82.00 to $87.00 and gave the company an “underweight” rating in a research report on Wednesday, September 25th. Wells Fargo & Company raised their target price on Consolidated Edison from $97.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. Finally, Guggenheim boosted their price target on shares of Consolidated Edison from $88.00 to $91.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating, two have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Consolidated Edison has an average rating of “Hold” and an average price target of $98.35.

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.