Free Trial

Chicago Partners Investment Group LLC Makes New $431,000 Investment in Consolidated Edison Inc (NYSE:ED)

Consolidated Edison logo with Utilities background

Chicago Partners Investment Group LLC acquired a new stake in Consolidated Edison Inc (NYSE:ED - Free Report) in the first quarter, according to its most recent filing with the SEC. The fund acquired 3,885 shares of the utilities provider's stock, valued at approximately $431,000.

A number of other hedge funds have also bought and sold shares of the business. Glen Eagle Advisors LLC increased its position in shares of Consolidated Edison by 6.2% during the fourth quarter. Glen Eagle Advisors LLC now owns 1,902 shares of the utilities provider's stock valued at $170,000 after buying an additional 111 shares during the period. Western Wealth Management LLC increased its position in shares of Consolidated Edison by 0.7% during the first quarter. Western Wealth Management LLC now owns 16,101 shares of the utilities provider's stock valued at $1,781,000 after buying an additional 116 shares during the period. Eastern Bank increased its stake in shares of Consolidated Edison by 2.9% during the first quarter. Eastern Bank now owns 4,294 shares of the utilities provider's stock valued at $475,000 after purchasing an additional 120 shares in the last quarter. Cary Street Partners Investment Advisory LLC increased its stake in shares of Consolidated Edison by 64.9% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 305 shares of the utilities provider's stock valued at $34,000 after purchasing an additional 120 shares in the last quarter. Finally, Integrated Advisors Network LLC increased its stake in shares of Consolidated Edison by 1.6% during the first quarter. Integrated Advisors Network LLC now owns 7,842 shares of the utilities provider's stock valued at $867,000 after purchasing an additional 121 shares in the last quarter. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ED has been the subject of a number of analyst reports. Wells Fargo & Company raised their target price on shares of Consolidated Edison from $103.00 to $114.00 and gave the company an "equal weight" rating in a research note on Friday, May 2nd. Guggenheim raised their target price 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. Scotiabank reaffirmed a "sector perform" rating and set a $106.00 target price (up previously from $101.00) on shares of Consolidated Edison in a research note on Monday. KeyCorp reaffirmed an "overweight" rating on shares of Consolidated Edison in a research note on Wednesday, July 16th. Finally, Barclays set a $107.00 target price on shares of Consolidated Edison and gave the company an "underweight" rating in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $106.30.

Get Our Latest Research Report on Consolidated Edison

Consolidated Edison Stock Performance

Consolidated Edison stock traded down $0.78 during midday trading on Thursday, reaching $102.88. 1,515,192 shares of the company traded hands, compared to its average volume of 2,731,283. The firm has a market capitalization of $37.10 billion, a price-to-earnings ratio of 18.67, a price-to-earnings-growth ratio of 3.31 and a beta of 0.24. The business has a 50 day moving average of $101.70 and a two-hundred day moving average of $103.36. Consolidated Edison Inc has a 12 month low of $87.28 and a 12 month high of $114.87. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.10 and a quick ratio of 1.01.

Consolidated Edison (NYSE:ED - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The utilities provider reported $0.67 earnings per share for the quarter, beating analysts' consensus estimates of $0.66 by $0.01. The company had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.39 billion. Consolidated Edison had a net margin of 11.98% and a return on equity of 8.56%. During the same quarter in the prior year, the firm earned $0.59 earnings per share. As a group, research analysts predict that Consolidated Edison Inc will post 5.62 earnings per share for the current year.

Consolidated Edison Announces Dividend

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. The ex-dividend date is Wednesday, August 13th. This represents a $3.40 dividend on an annualized basis and a yield of 3.3%. Consolidated Edison's dividend payout ratio is 61.71%.

Consolidated Edison Profile

(Free Report)

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.

Recommended Stories

Institutional Ownership by Quarter for Consolidated Edison (NYSE:ED)

Should You Invest $1,000 in Consolidated Edison Right Now?

Before you consider Consolidated Edison, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Consolidated Edison wasn't on the list.

While Consolidated Edison currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

Metaverse Stocks And Why You Can't Ignore Them Cover

Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

September Slowdown: 3 Stocks to Buy When the Pullback Comes
3 Overlooked Stocks Riding the AI Data Center Boom
3 Growth Stock Winners to Watch And 3 to Avoid

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines