Hamel Associates Inc. Acquires 8,247 Shares of Consolidated Edison Inc (NYSE:ED)

Hamel Associates Inc. raised its stake in Consolidated Edison Inc (NYSE:ED - Free Report) by 20.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 48,487 shares of the utilities provider's stock after acquiring an additional 8,247 shares during the quarter. Consolidated Edison comprises 1.8% of Hamel Associates Inc.'s holdings, making the stock its 24th largest position. Hamel Associates Inc.'s holdings in Consolidated Edison were worth $5,362,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the company. Alpine Bank Wealth Management bought a new stake in Consolidated Edison during the first quarter worth about $32,000. Fort Vancouver Investment Management LLC bought a new position in shares of Consolidated Edison during the first quarter valued at $33,000. Elite Financial Inc. acquired a new position in shares of Consolidated Edison in the first quarter worth approximately $38,000. Wood Tarver Financial Group LLC bought a new position in shares of Consolidated Edison in the 4th quarter worth about $35,000. Finally, Garde Capital Inc. acquired a new position in Consolidated Edison in the first quarter valued at approximately $49,000. Institutional investors own 66.29% of the company's stock.

Wall Street Analyst Weigh In

ED has been the subject of a number of research analyst reports. Citigroup boosted their target price on Consolidated Edison from $116.00 to $120.00 and gave the company a "buy" rating in a research report on Wednesday, April 9th. Morgan Stanley reduced their target price on shares of Consolidated Edison from $93.00 to $92.00 and set an "underweight" rating for the company in a research note on Wednesday, June 18th. Wells Fargo & Company raised their target price on Consolidated Edison from $103.00 to $114.00 and gave the stock an "equal weight" rating in a research note on Friday, May 2nd. KeyCorp restated an "overweight" rating on shares of Consolidated Edison in a research report on Wednesday, July 16th. Finally, Barclays raised their target price on shares of Consolidated Edison from $100.00 to $101.00 and gave the company an "underweight" rating in a research note on Monday, May 5th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Consolidated Edison currently has a consensus rating of "Hold" and an average price target of $105.09.

Consolidated Edison Stock Down 1.2%

ED stock traded down $1.24 during trading on Monday, hitting $101.02. 506,440 shares of the stock traded hands, compared to its average volume of 2,761,674. The stock has a market cap of $36.40 billion, a price-to-earnings ratio of 18.67, a price-to-earnings-growth ratio of 3.26 and a beta of 0.26. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.28 and a quick ratio of 1.19. Consolidated Edison Inc has a 1 year low of $87.28 and a 1 year high of $114.87. The firm's 50 day moving average is $101.74 and its two-hundred day moving average is $102.38.

Consolidated Edison (NYSE:ED - Get Free Report) last released its quarterly earnings data 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 business had revenue of $4.80 billion for the quarter, compared to analysts' expectations of $4.21 billion. During the same period last year, the business earned $2.15 earnings per share. On average, sell-side analysts anticipate that Consolidated Edison Inc will post 5.62 EPS for the current year.

Consolidated Edison Announces Dividend

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