Consolidated Edison, Inc. (NYSE:ED) Shares Acquired by Beacon Pointe Advisors LLC

Beacon Pointe Advisors LLC increased its holdings in shares of Consolidated Edison, Inc. (NYSE:ED - Free Report) by 16.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 17,527 shares of the utilities provider's stock after acquiring an additional 2,479 shares during the period. Beacon Pointe Advisors LLC's holdings in Consolidated Edison were worth $1,564,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Wilmington Savings Fund Society FSB purchased a new position in shares of Consolidated Edison in the third quarter worth about $776,000. JPMorgan Chase & Co. grew its position in shares of Consolidated Edison by 4.0% in the third quarter. JPMorgan Chase & Co. now owns 2,145,128 shares of the utilities provider's stock valued at $223,373,000 after purchasing an additional 82,985 shares in the last quarter. Hennessy Advisors Inc. grew its position in shares of Consolidated Edison by 2.8% in the fourth quarter. Hennessy Advisors Inc. now owns 143,136 shares of the utilities provider's stock valued at $12,772,000 after purchasing an additional 3,900 shares in the last quarter. Gateway Investment Advisers LLC boosted its stake in Consolidated Edison by 102.7% during the fourth quarter. Gateway Investment Advisers LLC now owns 430,279 shares of the utilities provider's stock worth $38,394,000 after buying an additional 217,981 shares during the last quarter. Finally, Jones Financial Companies Lllp grew its holdings in Consolidated Edison by 81.4% in the 4th quarter. Jones Financial Companies Lllp now owns 9,921 shares of the utilities provider's stock valued at $885,000 after buying an additional 4,451 shares in the last quarter. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Consolidated Edison Stock Down 0.5 %

NYSE:ED traded down $0.50 during trading hours on Monday, hitting $109.53. The company's stock had a trading volume of 3,225,179 shares, compared to its average volume of 2,228,665. The stock has a market capitalization of $39.45 billion, a P/E ratio of 20.90, a price-to-earnings-growth ratio of 3.05 and a beta of 0.27. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.07. The stock has a fifty day moving average of $107.80 and a 200-day moving average of $99.76. Consolidated Edison, Inc. has a 52-week low of $87.28 and a 52-week high of $114.87.

Consolidated Edison (NYSE:ED - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The utilities provider reported $2.25 earnings per share for the quarter, missing analysts' consensus estimates of $2.30 by ($0.05). The company had revenue of $4.80 billion for the quarter, compared to analyst estimates of $4.21 billion. Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. During the same period in the previous year, the business posted $2.15 EPS. On average, equities analysts forecast that Consolidated Edison, Inc. will post 5.62 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Wednesday, May 14th will be paid a $0.85 dividend. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $3.40 dividend on an annualized basis and a yield of 3.10%. Consolidated Edison's payout ratio is 64.89%.

Wall Street Analyst Weigh In

Several research firms have recently commented on ED. Wells Fargo & Company lifted their price target on shares of Consolidated Edison from $103.00 to $114.00 and gave the company an "equal weight" rating in a research report on Friday. Guggenheim boosted their price target on shares of Consolidated Edison from $96.00 to $103.00 and gave the company a "neutral" rating in a research note on Friday. Mizuho boosted their target price on Consolidated Edison from $92.00 to $95.00 and gave the company a "neutral" rating in a research report on Monday, February 3rd. Citigroup raised their price target on Consolidated Edison from $116.00 to $120.00 and gave the stock a "buy" rating in a research report on Wednesday, April 9th. Finally, Morgan Stanley set a $94.00 price objective on Consolidated Edison and gave the company an "overweight" rating in a report on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $105.80.

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.