Cetera Investment Advisers boosted its position in shares of Consolidated Edison Inc (NYSE:ED - Free Report) by 6.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 149,267 shares of the utilities provider's stock after purchasing an additional 9,034 shares during the period. Cetera Investment Advisers' holdings in Consolidated Edison were worth $16,894,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of ED. Revolve Wealth Partners LLC grew its stake in shares of Consolidated Edison by 13.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 3,721 shares of the utilities provider's stock valued at $332,000 after buying an additional 441 shares in the last quarter. Empowered Funds LLC raised its position in Consolidated Edison by 42.1% during the first quarter. Empowered Funds LLC now owns 8,978 shares of the utilities provider's stock valued at $993,000 after acquiring an additional 2,659 shares in the last quarter. Woodline Partners LP lifted its stake in Consolidated Edison by 40.7% in the first quarter. Woodline Partners LP now owns 29,271 shares of the utilities provider's stock valued at $3,237,000 after acquiring an additional 8,468 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in Consolidated Edison in the second quarter valued at approximately $3,256,000. Finally, Baird Financial Group Inc. grew its position in Consolidated Edison by 2.1% in the second quarter. Baird Financial Group Inc. now owns 14,679 shares of the utilities provider's stock worth $1,473,000 after acquiring an additional 296 shares in the last quarter. Hedge funds and other institutional investors own 66.29% of the company's stock.
Analyst Ratings Changes
Several research analysts have recently commented on the stock. Mizuho set a $114.00 price target on shares of Consolidated Edison in a research note on Monday. Argus set a $112.00 price objective on shares of Consolidated Edison in a report on Tuesday, June 23rd. Weiss Ratings reiterated a "buy (b)" rating on shares of Consolidated Edison in a report on Tuesday, July 21st. KeyCorp lowered their target price on shares of Consolidated Edison from $97.00 to $94.00 and set an "underweight" rating on the stock in a research report on Thursday, July 23rd. Finally, Evercore set a $116.00 target price on Consolidated Edison in a report on Monday, May 11th. Two research analysts have rated the stock with a Buy rating, seven have given a Hold rating and six have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Reduce" and an average target price of $108.47.
Check Out Our Latest Stock Report on ED
Consolidated Edison Trading Up 0.6%
NYSE:ED opened at $112.15 on Wednesday. The company's 50 day moving average is $109.22 and its 200-day moving average is $109.26. The company has a quick ratio of 1.09, a current ratio of 1.19 and a debt-to-equity ratio of 1.00. Consolidated Edison Inc has a 12 month low of $94.96 and a 12 month high of $116.23. The firm has a market cap of $41.33 billion, a price-to-earnings ratio of 18.88, a P/E/G ratio of 2.89 and a beta of 0.27.
Consolidated Edison Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Wednesday, August 19th will be issued a $0.8875 dividend. This represents a $3.55 annualized dividend and a yield of 3.2%. The ex-dividend date is Wednesday, August 19th. Consolidated Edison's dividend payout ratio (DPR) is 59.76%.
About Consolidated Edison
(
Free Report)
Consolidated Edison, Inc, commonly known as Con Edison, is an investor-owned energy company that primarily delivers electricity, natural gas and steam to customers in the New York metropolitan area. Its regulated utility operations include the distribution and transmission of electric power, the distribution of natural gas, and the operation of one of the largest district steam systems in the United States, serving commercial, institutional and residential customers in New York City and nearby counties.
The company operates through regulated utility subsidiaries that serve urban and suburban service territories, together with non-utility businesses that develop, own and manage energy infrastructure and clean energy projects.
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