Vest Financial LLC Purchases 74,649 Shares of Consolidated Edison, Inc. (NYSE:ED)

Vest Financial LLC increased its position in Consolidated Edison, Inc. (NYSE:ED - Free Report) by 14.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 605,119 shares of the utilities provider's stock after purchasing an additional 74,649 shares during the quarter. Consolidated Edison makes up 1.0% of Vest Financial LLC's portfolio, making the stock its 12th largest holding. Vest Financial LLC owned approximately 0.17% of Consolidated Edison worth $66,920,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Consolidated Edison by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 42,455,662 shares of the utilities provider's stock worth $3,788,319,000 after purchasing an additional 488,752 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Consolidated Edison by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 8,984,022 shares of the utilities provider's stock valued at $799,684,000 after acquiring an additional 130,234 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Consolidated Edison by 6.0% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,820,449 shares of the utilities provider's stock worth $430,129,000 after acquiring an additional 271,088 shares in the last quarter. Norges Bank acquired a new position in shares of Consolidated Edison in the 4th quarter worth approximately $399,824,000. Finally, Northern Trust Corp grew its position in Consolidated Edison by 10.2% during the 4th quarter. Northern Trust Corp now owns 4,207,753 shares of the utilities provider's stock worth $375,458,000 after acquiring an additional 390,708 shares during the last quarter. 66.29% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ED has been the topic of a number of recent analyst reports. UBS Group boosted their price objective on Consolidated Edison from $110.00 to $113.00 and gave the stock a "neutral" rating in a research note on Friday, March 21st. Citigroup upped their price target on shares of Consolidated Edison from $116.00 to $120.00 and gave the stock a "buy" rating in a research report on Wednesday, April 9th. KeyCorp lowered shares of Consolidated Edison from a "sector weight" rating to an "underweight" rating and set a $90.00 price objective on the stock. in a report on Wednesday, May 14th. Scotiabank boosted their target price on shares of Consolidated Edison from $100.00 to $101.00 and gave the stock a "sector perform" rating in a research note on Monday, February 24th. Finally, Barclays upped their target price on shares of Consolidated Edison from $100.00 to $101.00 and gave the stock an "underweight" rating in a research report on Monday, May 5th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $104.27.

Consolidated Edison Trading Down 0.5%

NYSE ED traded down $0.50 during trading hours on Monday, hitting $101.11. The company's stock had a trading volume of 1,781,807 shares, compared to its average volume of 2,285,693. Consolidated Edison, Inc. has a twelve month low of $87.28 and a twelve month high of $114.87. The firm has a market capitalization of $36.43 billion, a P/E ratio of 19.30, a PEG ratio of 3.05 and a beta of 0.27. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07. The stock has a fifty day moving average of $107.33 and a 200 day moving average of $100.42.

Consolidated Edison (NYSE:ED - Get Free Report) last posted its quarterly earnings results 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 company had revenue of $4.80 billion during the quarter, compared to analyst estimates of $4.21 billion. During the same period last year, the company earned $2.15 EPS. Equities research analysts forecast that Consolidated Edison, Inc. will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Wednesday, May 14th will be paid a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 3.36%. The ex-dividend date is Wednesday, May 14th. Consolidated Edison's payout ratio is presently 62.85%.

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.