Charles Schwab Trust Co Invests $476,000 in Consolidated Edison, Inc. (NYSE:ED)

Charles Schwab Trust Co acquired a new position in shares of Consolidated Edison, Inc. (NYSE:ED - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 4,300 shares of the utilities provider's stock, valued at approximately $476,000.

Other institutional investors have also recently made changes to their positions in the company. OFI Invest Asset Management acquired a new position in shares of Consolidated Edison in the fourth quarter worth about $35,000. Wood Tarver Financial Group LLC purchased a new position in shares of Consolidated Edison in the 4th quarter valued at about $35,000. Fairway Wealth LLC acquired a new position in Consolidated Edison in the 4th quarter worth about $36,000. Centricity Wealth Management LLC purchased a new position in Consolidated Edison during the fourth quarter worth approximately $39,000. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new stake in Consolidated Edison in the fourth quarter valued at approximately $44,000. 66.29% of the stock is owned by hedge funds and other institutional investors.

Consolidated Edison Trading Down 0.7%

Consolidated Edison stock traded down $0.70 during trading on Friday, hitting $101.57. The company had a trading volume of 1,694,450 shares, compared to its average volume of 2,280,360. The stock has a market cap of $36.59 billion, a price-to-earnings ratio of 19.38, 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. Consolidated Edison, Inc. has a 1-year low of $87.28 and a 1-year high of $114.87. The company's 50 day simple moving average is $107.50 and its 200-day simple moving average is $100.36.

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 11.93% and a return on equity of 8.62%. The firm had revenue of $4.80 billion during the quarter, compared to analyst estimates of $4.21 billion. During the same period in the previous year, the firm posted $2.15 earnings per share. As a group, analysts expect that Consolidated Edison, Inc. will post 5.62 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Wednesday, May 14th will be paid a dividend of $0.85 per share. 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 3.35%. Consolidated Edison's dividend payout ratio (DPR) is presently 62.85%.

Wall Street Analyst Weigh In

ED has been the topic of a number of research reports. Guggenheim raised 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, May 2nd. UBS Group raised their price objective on shares of Consolidated Edison from $110.00 to $113.00 and gave the stock a "neutral" rating in a research report on Friday, March 21st. KeyCorp downgraded shares of Consolidated Edison from a "sector weight" rating to an "underweight" rating and set a $90.00 target price on the stock. in a research note on Wednesday, May 14th. Barclays increased their price target on shares of Consolidated Edison from $100.00 to $101.00 and gave the company an "underweight" rating in a research note on Monday, May 5th. Finally, 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, May 2nd. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $104.27.

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.