Consolidated Edison, Inc. (NYSE:ED) Shares Bought by Vest Financial LLC

Vest Financial LLC increased its position in shares of Consolidated Edison, Inc. (NYSE:ED - Free Report) by 14.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 605,119 shares of the utilities provider's stock after purchasing an additional 74,649 shares during the period. Consolidated Edison accounts for approximately 1.0% of Vest Financial LLC's portfolio, making the stock its 12th largest position. Vest Financial LLC owned 0.17% of Consolidated Edison worth $66,920,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of ED. JPMorgan Chase & Co. lifted its position in Consolidated Edison by 4.0% in the third quarter. JPMorgan Chase & Co. now owns 2,145,128 shares of the utilities provider's stock valued at $223,373,000 after acquiring an additional 82,985 shares during the last quarter. Jones Financial Companies Lllp lifted its position in Consolidated Edison by 81.4% in the fourth quarter. Jones Financial Companies Lllp now owns 9,921 shares of the utilities provider's stock valued at $885,000 after acquiring an additional 4,451 shares during the last quarter. Orion Portfolio Solutions LLC lifted its position 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 valued at $671,000 after acquiring an additional 1,366 shares during the last quarter. Sei Investments Co. lifted its position in Consolidated Edison by 21.2% in the fourth quarter. Sei Investments Co. now owns 97,892 shares of the utilities provider's stock valued at $8,736,000 after acquiring an additional 17,147 shares during the last quarter. Finally, Allworth Financial LP lifted its position in Consolidated Edison by 16.4% in the fourth quarter. Allworth Financial LP now owns 5,844 shares of the utilities provider's stock valued at $530,000 after acquiring an additional 823 shares during the last quarter. Institutional investors and hedge funds own 66.29% of the company's stock.

Consolidated Edison Price Performance

Consolidated Edison stock traded down $0.70 during mid-day trading on Friday, reaching $101.57. The company had a trading volume of 1,694,450 shares, compared to its average volume of 2,283,815. The stock's 50-day simple moving average is $107.33 and its 200-day simple moving average is $100.39. The company has a market capitalization of $36.59 billion, a P/E ratio of 19.38, a P/E/G ratio of 3.05 and a beta of 0.27. Consolidated Edison, Inc. has a 1 year low of $87.28 and a 1 year high of $114.87. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93.

Consolidated Edison (NYSE:ED - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The utilities provider reported $2.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.30 by ($0.05). Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. The firm had revenue of $4.80 billion for the quarter, compared to analyst estimates of $4.21 billion. During the same period last year, the firm earned $2.15 EPS. On average, equities analysts predict that Consolidated Edison, Inc. will post 5.62 EPS for the current year.

Consolidated Edison Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Wednesday, May 14th will be given a dividend of $0.85 per share. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $3.40 annualized dividend and a dividend yield of 3.35%. Consolidated Edison's dividend payout ratio is currently 62.85%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ED. UBS Group boosted their price target on shares of Consolidated Edison from $110.00 to $113.00 and gave the company a "neutral" rating in a research report on Friday, March 21st. Scotiabank upped their target price on shares of Consolidated Edison from $100.00 to $101.00 and gave the company a "sector perform" rating in a report on Monday, February 24th. Morgan Stanley reduced their target price on shares of Consolidated Edison from $94.00 to $93.00 and set an "underweight" rating for the company in a report on Thursday, May 22nd. Guggenheim upped their target price on shares of Consolidated Edison from $96.00 to $103.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. Finally, Barclays upped their target price on shares of Consolidated Edison from $100.00 to $101.00 and gave the company an "underweight" rating in a report on Monday, May 5th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Consolidated Edison has an average rating of "Hold" and a consensus price target of $104.27.

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.