Consolidated Edison, Inc. (NYSE:ED) Shares Purchased by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. grew its holdings in Consolidated Edison, Inc. (NYSE:ED - Free Report) by 20.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,866 shares of the utilities provider's stock after purchasing 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 SEC filing.

A number of other institutional investors have also bought and sold shares of the business. JPMorgan Chase & Co. raised its position in shares of Consolidated Edison by 4.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,145,128 shares of the utilities provider's stock valued at $223,373,000 after buying an additional 82,985 shares during the period. Jones Financial Companies Lllp raised its position in shares of Consolidated Edison by 81.4% during the 4th quarter. Jones Financial Companies Lllp now owns 9,921 shares of the utilities provider's stock valued at $885,000 after buying an additional 4,451 shares during the period. Orion Portfolio Solutions LLC raised its position in shares of Consolidated Edison by 22.2% during the 4th quarter. Orion Portfolio Solutions LLC now owns 7,516 shares of the utilities provider's stock valued at $671,000 after buying an additional 1,366 shares during the period. Sei Investments Co. raised its position in shares of Consolidated Edison by 21.2% during the 4th quarter. Sei Investments Co. now owns 97,892 shares of the utilities provider's stock valued at $8,736,000 after buying an additional 17,147 shares during the period. Finally, Allworth Financial LP raised its position in shares of Consolidated Edison by 16.4% during the 4th quarter. Allworth Financial LP now owns 5,844 shares of the utilities provider's stock valued at $530,000 after buying an additional 823 shares during the period. 66.29% of the stock is owned by hedge funds and other institutional investors.

Consolidated Edison Stock Down 0.7%

Shares of NYSE:ED traded down $0.70 during trading on Friday, hitting $101.57. The company's stock had a trading volume of 1,694,450 shares, compared to its average volume of 2,283,815. The business has a 50 day moving average price of $107.33 and a two-hundred day moving average price of $100.39. The company has a market capitalization of $36.59 billion, a PE ratio of 19.38, a P/E/G ratio of 3.05 and a beta of 0.27. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01. Consolidated Edison, Inc. has a fifty-two week low of $87.28 and a fifty-two week high of $114.87.

Consolidated Edison (NYSE:ED - Get Free Report) last posted its quarterly 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). The business had revenue of $4.80 billion during the quarter, compared to analyst estimates 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 last year, the firm earned $2.15 EPS. As a group, research analysts expect that Consolidated Edison, Inc. will post 5.62 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ED. Wells Fargo & Company lifted their target price on shares of Consolidated Edison from $103.00 to $114.00 and gave the company an "equal weight" rating in a report on Friday, May 2nd. Citigroup lifted their target price on shares of Consolidated Edison from $116.00 to $120.00 and gave the company a "buy" rating in a report on Wednesday, April 9th. Scotiabank lifted 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 dropped 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. Finally, Barclays lifted 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 analysts have rated the stock with a sell rating, seven have given 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.com, the company has a consensus rating of "Hold" and an average 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.