Consolidated Edison Inc (NYSE:ED) Shares Acquired by Cambridge Investment Research Advisors Inc.

Cambridge Investment Research Advisors Inc. raised its holdings in Consolidated Edison Inc (NYSE:ED - Free Report) by 17.4% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 92,643 shares of the utilities provider's stock after acquiring an additional 13,755 shares during the quarter. Cambridge Investment Research Advisors Inc.'s holdings in Consolidated Edison were worth $10,245,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Fairway Wealth LLC purchased a new stake in shares of Consolidated Edison in the 4th quarter worth $36,000. Wood Tarver Financial Group LLC purchased a new stake in shares of Consolidated Edison in the 4th quarter worth $35,000. OFI Invest Asset Management purchased a new stake in shares of Consolidated Edison in the 4th quarter worth $35,000. Garde Capital Inc. purchased a new stake in shares of Consolidated Edison in the 1st quarter worth $49,000. Finally, Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of Consolidated Edison in the 4th quarter worth $44,000. Institutional investors own 66.29% of the company's stock.

Consolidated Edison Stock Down 0.3%

Consolidated Edison stock traded down $0.28 during midday trading on Friday, reaching $98.13. The company's stock had a trading volume of 2,880,053 shares, compared to its average volume of 2,371,951. The stock's 50-day simple moving average is $104.85 and its 200-day simple moving average is $100.79. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.28 and a quick ratio of 1.19. Consolidated Edison Inc has a 52-week low of $87.28 and a 52-week high of $114.87. The stock has a market capitalization of $35.36 billion, a P/E ratio of 18.14, a PEG ratio of 3.13 and a beta of 0.27.

Consolidated Edison (NYSE:ED - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The utilities provider reported $2.25 EPS for the quarter, missing analysts' consensus estimates of $2.30 by ($0.05). Consolidated Edison had a net margin of 11.98% and a return on equity of 8.61%. The business had revenue of $4.80 billion during the quarter, compared to analysts' expectations of $4.21 billion. During the same quarter last year, the business posted $2.15 earnings per share. On average, sell-side analysts expect that Consolidated Edison Inc will post 5.62 EPS for the current year.

Consolidated Edison Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Wednesday, May 14th were issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date was Wednesday, May 14th. Consolidated Edison's dividend payout ratio is presently 62.85%.

Analyst Ratings Changes

Several equities research analysts have weighed in on ED shares. UBS Group upped their target price on Consolidated Edison from $110.00 to $113.00 and gave the stock a "neutral" rating in a report on Friday, March 21st. Barclays upped their target price on Consolidated Edison from $100.00 to $101.00 and gave the stock an "underweight" rating in a report on Monday, May 5th. Wells Fargo & Company upped their price objective on Consolidated Edison from $103.00 to $114.00 and gave the stock an "equal weight" rating in a research note on Friday, May 2nd. Guggenheim upped their price objective on Consolidated Edison from $96.00 to $103.00 and gave the stock a "neutral" rating in a research note on Friday, May 2nd. Finally, KeyCorp cut Consolidated Edison from a "sector weight" rating to an "underweight" rating and set a $90.00 price objective for the company. in a research note on Wednesday, May 14th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Consolidated Edison has a consensus rating of "Hold" and an average price target of $104.18.

Consolidated Edison 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.