Consolidated Edison Inc (NYSE:ED) Shares Acquired by Cerity Partners LLC

Cerity Partners LLC boosted its stake in shares of Consolidated Edison Inc (NYSE:ED - Free Report) by 13.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 86,845 shares of the utilities provider's stock after buying an additional 9,960 shares during the period. Cerity Partners LLC's holdings in Consolidated Edison were worth $9,604,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Merit Financial Group LLC increased its stake in Consolidated Edison by 16.8% in the first quarter. Merit Financial Group LLC now owns 10,666 shares of the utilities provider's stock worth $1,180,000 after purchasing an additional 1,533 shares during the period. Ritholtz Wealth Management purchased a new stake in Consolidated Edison in the first quarter worth $227,000. Wealth Enhancement Advisory Services LLC increased its stake in Consolidated Edison by 2.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 250,014 shares of the utilities provider's stock worth $27,649,000 after purchasing an additional 6,869 shares during the period. Orion Portfolio Solutions LLC increased its stake in Consolidated Edison by 22.2% in the fourth quarter. Orion Portfolio Solutions LLC now owns 7,516 shares of the utilities provider's stock worth $671,000 after purchasing an additional 1,366 shares during the period. Finally, Flagship Harbor Advisors LLC purchased a new stake in Consolidated Edison in the first quarter worth $217,000. Hedge funds and other institutional investors own 66.29% of the company's stock.

Consolidated Edison Stock Up 0.5%

ED stock traded up $0.53 during trading on Friday, reaching $101.13. 729,494 shares of the company traded hands, compared to its average volume of 2,404,035. Consolidated Edison Inc has a 12 month low of $87.28 and a 12 month high of $114.87. The business has a 50 day simple moving average of $101.81 and a 200 day simple moving average of $101.64. The company has a market capitalization of $36.44 billion, a price-to-earnings ratio of 18.69, a price-to-earnings-growth ratio of 3.21 and a beta of 0.26. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.19 and a current ratio of 1.28.

Consolidated Edison (NYSE:ED - Get Free Report) last issued 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). Consolidated Edison had a net margin of 11.98% and a return on equity of 8.61%. The company had revenue of $4.80 billion for the quarter, compared to the consensus estimate of $4.21 billion. During the same period in the previous year, the business earned $2.15 EPS. On average, equities research analysts anticipate that Consolidated Edison Inc will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Wednesday, August 13th will be given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 3.36%. Consolidated Edison's payout ratio is currently 62.85%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on ED shares. Guggenheim increased their target price on Consolidated Edison from $96.00 to $103.00 and gave the stock a "neutral" rating in a research note on Friday, May 2nd. Barclays increased 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. Citigroup increased their target price on Consolidated Edison from $116.00 to $120.00 and gave the stock a "buy" rating in a research note on Wednesday, April 9th. Morgan Stanley cut their price target on Consolidated Edison from $93.00 to $92.00 and set an "underweight" rating on the stock in a research note on Wednesday, June 18th. Finally, Mizuho upgraded Consolidated Edison from a "neutral" rating to an "outperform" rating and raised their price target for the company from $105.00 to $107.00 in a research note on Monday, June 30th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $105.09.

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.