Great Valley Advisor Group Inc. Has $4.12 Million Stake in Consolidated Edison, Inc. (NYSE:ED)

Great Valley Advisor Group Inc. grew its position in shares of Consolidated Edison, Inc. (NYSE:ED - Free Report) by 13.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 46,121 shares of the utilities provider's stock after purchasing an additional 5,549 shares during the period. Great Valley Advisor Group Inc.'s holdings in Consolidated Edison were worth $4,115,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. AlphaMark Advisors LLC purchased a new position in shares of Consolidated Edison in the 4th quarter worth $27,000. OFI Invest Asset Management purchased a new position in Consolidated Edison in the fourth quarter valued at about $35,000. Fairway Wealth LLC acquired a new stake in shares of Consolidated Edison in the fourth quarter valued at about $36,000. Centricity Wealth Management LLC acquired a new position in Consolidated Edison during the 4th quarter worth approximately $39,000. Finally, Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of Consolidated Edison during the fourth quarter valued at approximately $44,000. Institutional investors and hedge funds own 66.29% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on ED shares. Guggenheim upped 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 objective on Consolidated Edison from $94.00 to $93.00 and set an "underweight" rating for the company in a research note on Thursday, May 22nd. UBS Group upped their target price on Consolidated Edison from $110.00 to $113.00 and gave the company a "neutral" rating in a research report on Friday, March 21st. Citigroup increased their target price on Consolidated Edison from $116.00 to $120.00 and gave the company a "buy" rating in a research note on Wednesday, April 9th. Finally, Mizuho lifted their price target on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock a "neutral" rating in a research note on Monday, February 3rd. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $104.27.

Consolidated Edison Price Performance

Shares of Consolidated Edison stock traded up $1.27 during trading on Friday, reaching $104.65. The company's stock had a trading volume of 6,398,471 shares, compared to its average volume of 2,307,253. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.07. The stock has a market capitalization of $37.70 billion, a P/E ratio of 19.97, a price-to-earnings-growth ratio of 3.05 and a beta of 0.29. Consolidated Edison, Inc. has a one year low of $87.28 and a one year high of $114.87. The stock has a 50-day moving average price of $107.99 and a two-hundred day moving average price of $100.12.

Consolidated Edison (NYSE:ED - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The utilities provider reported $2.25 earnings per share (EPS) 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 business had revenue of $4.80 billion during the quarter, compared to the consensus estimate of $4.21 billion. During the same period in the previous year, the business posted $2.15 earnings per share. As a group, sell-side analysts anticipate that Consolidated Edison, Inc. will post 5.62 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Wednesday, May 14th will be given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date is Wednesday, May 14th. Consolidated Edison's dividend payout ratio is currently 62.85%.

Consolidated Edison Company Profile

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.