Hennion & Walsh Asset Management Inc. Acquires 3,169 Shares of Consolidated Edison, Inc. (NYSE:ED)

Hennion & Walsh Asset Management Inc. increased its stake in shares of Consolidated Edison, Inc. (NYSE:ED - Free Report) by 20.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,866 shares of the utilities provider's stock after acquiring an additional 3,169 shares during the quarter. Hennion & Walsh Asset Management Inc.'s holdings in Consolidated Edison were worth $2,086,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of ED. JPMorgan Chase & Co. lifted its holdings in Consolidated Edison by 4.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,145,128 shares of the utilities provider's stock worth $223,373,000 after buying an additional 82,985 shares during the period. Merit Financial Group LLC lifted its holdings in Consolidated Edison by 16.8% in the 1st quarter. Merit Financial Group LLC now owns 10,666 shares of the utilities provider's stock worth $1,180,000 after buying an additional 1,533 shares during the period. Jones Financial Companies Lllp lifted its holdings in Consolidated Edison by 81.4% in the 4th quarter. Jones Financial Companies Lllp now owns 9,921 shares of the utilities provider's stock worth $885,000 after buying an additional 4,451 shares during the period. Orion Portfolio Solutions LLC lifted its holdings in Consolidated Edison by 22.2% in the 4th quarter. Orion Portfolio Solutions LLC now owns 7,516 shares of the utilities provider's stock worth $671,000 after buying an additional 1,366 shares during the period. Finally, Sei Investments Co. lifted its holdings in Consolidated Edison by 21.2% in the 4th quarter. Sei Investments Co. now owns 97,892 shares of the utilities provider's stock worth $8,736,000 after buying an additional 17,147 shares during the period. 66.29% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ED has been the subject of several research analyst reports. Citigroup increased their price objective on Consolidated Edison from $116.00 to $120.00 and gave the stock a "buy" rating in a report on Wednesday, April 9th. Barclays lifted their price target on Consolidated Edison from $100.00 to $101.00 and gave the company an "underweight" rating in a research report on Monday, May 5th. Scotiabank lifted their price target on Consolidated Edison from $100.00 to $101.00 and gave the company a "sector perform" rating in a research report on Monday, February 24th. KeyCorp downgraded Consolidated Edison from a "sector weight" rating to an "underweight" rating and set a $90.00 target price on the stock. in a report on Wednesday, May 14th. Finally, Morgan Stanley lowered their price target on Consolidated Edison from $94.00 to $93.00 and set an "underweight" rating on the stock in a report on Thursday, May 22nd. Three analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, Consolidated Edison has an average rating of "Hold" and an average price target of $104.27.

Consolidated Edison Stock Performance

ED traded down $0.50 during midday trading on Monday, reaching $101.11. The company had a trading volume of 1,781,807 shares, compared to its average volume of 2,285,693. 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 business has a 50-day moving average of $107.33 and a two-hundred day moving average of $100.42. The company has a market cap of $36.43 billion, a P/E ratio of 19.30, 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.

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

Consolidated Edison Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Wednesday, May 14th will be paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date of this dividend is Wednesday, May 14th. Consolidated Edison's dividend payout ratio (DPR) is 62.85%.

Consolidated Edison 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.