Retirement Planning Co of New England Inc. Has $974,000 Position in Consolidated Edison Inc (NYSE:ED)

Retirement Planning Co of New England Inc. raised its position in Consolidated Edison Inc (NYSE:ED - Free Report) by 230.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,810 shares of the utilities provider's stock after acquiring an additional 6,140 shares during the quarter. Retirement Planning Co of New England Inc.'s holdings in Consolidated Edison were worth $974,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Glen Eagle Advisors LLC raised its position in shares of Consolidated Edison by 6.2% in the fourth quarter. Glen Eagle Advisors LLC now owns 1,902 shares of the utilities provider's stock valued at $170,000 after purchasing an additional 111 shares during the period. Richwood Investment Advisors LLC raised its position in shares of Consolidated Edison by 2.3% in the fourth quarter. Richwood Investment Advisors LLC now owns 5,194 shares of the utilities provider's stock valued at $463,000 after purchasing an additional 115 shares during the period. Western Wealth Management LLC raised its position in shares of Consolidated Edison by 0.7% in the first quarter. Western Wealth Management LLC now owns 16,101 shares of the utilities provider's stock valued at $1,781,000 after purchasing an additional 116 shares during the period. Integrated Advisors Network LLC raised its position in shares of Consolidated Edison by 1.6% in 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 during the period. Finally, Penobscot Investment Management Company Inc. raised its position in shares of Consolidated Edison by 5.7% in the fourth quarter. Penobscot Investment Management Company Inc. now owns 2,300 shares of the utilities provider's stock valued at $205,000 after purchasing an additional 125 shares during the period. 66.29% of the stock is owned by institutional investors.

Consolidated Edison Price Performance

ED stock traded up $0.42 during mid-day trading on Friday, hitting $101.02. The stock had a trading volume of 1,813,453 shares, compared to its average volume of 2,408,250. The company has a current ratio of 1.28, a quick ratio of 1.19 and a debt-to-equity ratio of 1.04. Consolidated Edison Inc has a 52 week low of $87.28 and a 52 week high of $114.87. The firm has a market capitalization of $36.40 billion, a P/E ratio of 18.67, a P/E/G ratio of 3.21 and a beta of 0.26. The firm has a fifty day simple moving average of $101.81 and a 200 day simple moving average of $101.64.

Consolidated Edison (NYSE:ED - Get Free Report) last released its earnings results on Thursday, May 1st. The utilities provider reported $2.25 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.05). Consolidated Edison had a net margin of 11.98% and a return on equity of 8.61%. The firm had revenue of $4.80 billion during the quarter, compared to the consensus estimate of $4.21 billion. During the same period in the prior year, the business earned $2.15 earnings per share. As a group, research analysts forecast that Consolidated Edison Inc will post 5.62 EPS for the current year.

Consolidated Edison Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Wednesday, August 13th will be paid a $0.85 dividend. The ex-dividend date of this dividend is Wednesday, August 13th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.37%. Consolidated Edison's payout ratio is currently 62.85%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Wells Fargo & Company increased their price objective 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. Guggenheim increased their price objective on shares of Consolidated Edison from $96.00 to $103.00 and gave the company a "neutral" rating in a research report on Friday, May 2nd. Morgan Stanley lowered their price target on shares of Consolidated Edison from $93.00 to $92.00 and set an "underweight" rating on the stock in a research report on Wednesday, June 18th. KeyCorp reaffirmed an "overweight" rating on shares of Consolidated Edison in a research report on Wednesday. Finally, Mizuho raised shares of Consolidated Edison from a "neutral" rating to an "outperform" rating and raised their price target for the stock from $105.00 to $107.00 in a research report on Monday, June 30th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $105.09.

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.