Consolidated Edison Inc (NYSE:ED) Shares Bought by Ameritas Advisory Services LLC

Ameritas Advisory Services LLC increased its holdings in shares of Consolidated Edison Inc (NYSE:ED - Free Report) by 282.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,721 shares of the utilities provider's stock after buying an additional 7,918 shares during the period. Ameritas Advisory Services LLC's holdings in Consolidated Edison were worth $1,143,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Amalgamated Bank raised its stake in shares of Consolidated Edison by 1.1% in the first quarter. Amalgamated Bank now owns 67,365 shares of the utilities provider's stock valued at $7,450,000 after acquiring an additional 748 shares in the last quarter. KBC Group NV increased its holdings in Consolidated Edison by 7.7% during the 1st quarter. KBC Group NV now owns 49,655 shares of the utilities provider's stock worth $5,491,000 after purchasing an additional 3,560 shares during the period. Joel Isaacson & Co. LLC raised its position in Consolidated Edison by 1.4% in the 1st quarter. Joel Isaacson & Co. LLC now owns 22,755 shares of the utilities provider's stock valued at $2,516,000 after purchasing an additional 319 shares in the last quarter. Clay Northam Wealth Management LLC purchased a new position in shares of Consolidated Edison in the 1st quarter valued at about $221,000. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Consolidated Edison by 1.3% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 974,065 shares of the utilities provider's stock valued at $107,722,000 after buying an additional 12,527 shares during the period. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Citigroup lifted their price objective on shares of Consolidated Edison from $116.00 to $120.00 and gave the stock a "buy" rating in a research report on Wednesday, April 9th. KeyCorp downgraded Consolidated Edison from a "sector weight" rating to an "underweight" rating and set a $90.00 price target for the company. in a report on Wednesday, May 14th. UBS Group upped their price objective on Consolidated Edison from $110.00 to $113.00 and gave the stock a "neutral" rating in a research report on Friday, March 21st. Morgan Stanley cut their target price on Consolidated Edison from $93.00 to $92.00 and set an "underweight" rating on the stock in a research report on Wednesday, June 18th. Finally, Barclays boosted their target price on Consolidated Edison from $100.00 to $101.00 and gave the stock an "underweight" rating in a research note on Monday, May 5th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $105.27.

Consolidated Edison Stock Performance

NYSE:ED traded up $0.16 during mid-day trading on Thursday, reaching $100.08. 1,316,576 shares of the stock were exchanged, compared to its average volume of 2,387,608. The company has a 50 day simple moving average of $104.14 and a 200-day simple moving average of $100.84. The stock has a market capitalization of $36.06 billion, a P/E ratio of 18.50, a P/E/G ratio of 3.19 and a beta of 0.26. The company has a quick ratio of 1.19, a current ratio of 1.28 and a debt-to-equity ratio of 1.04. Consolidated Edison Inc has a 1 year low of $87.28 and a 1 year high of $114.87.

Consolidated Edison (NYSE:ED - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The utilities provider reported $2.25 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.05). The firm had revenue of $4.80 billion during the quarter, compared to analyst estimates of $4.21 billion. Consolidated Edison had a net margin of 11.98% and a return on equity of 8.61%. During the same period in the previous year, the company posted $2.15 earnings per share. Analysts anticipate that Consolidated Edison Inc will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Wednesday, May 14th were paid a $0.85 dividend. The ex-dividend date of this dividend was Wednesday, May 14th. This represents a $3.40 dividend on an annualized basis and a yield of 3.40%. Consolidated Edison's dividend payout ratio is presently 62.85%.

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.