J.W. Cole Advisors Inc. Increases Stock Position in Consolidated Edison Inc (NYSE:ED)

J.W. Cole Advisors Inc. raised its holdings in Consolidated Edison Inc (NYSE:ED - Free Report) by 45.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,373 shares of the utilities provider's stock after purchasing an additional 6,668 shares during the quarter. J.W. Cole Advisors Inc.'s holdings in Consolidated Edison were worth $2,364,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in ED. Vanguard Group Inc. raised its position in shares of Consolidated Edison by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 42,455,662 shares of the utilities provider's stock worth $3,788,319,000 after purchasing an additional 488,752 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Consolidated Edison by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 8,984,022 shares of the utilities provider's stock worth $799,684,000 after purchasing an additional 130,234 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Consolidated Edison by 6.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,820,449 shares of the utilities provider's stock worth $430,129,000 after purchasing an additional 271,088 shares during the last quarter. Norges Bank acquired a new position in shares of Consolidated Edison during the 4th quarter worth approximately $399,824,000. Finally, Northern Trust Corp grew its stake in Consolidated Edison by 10.2% in the 4th quarter. Northern Trust Corp now owns 4,207,753 shares of the utilities provider's stock worth $375,458,000 after acquiring an additional 390,708 shares during the period. Hedge funds and other institutional investors own 66.29% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have commented on ED shares. Guggenheim lifted their target price on shares of Consolidated Edison from $96.00 to $103.00 and gave the stock a "neutral" rating in a research note on Friday, May 2nd. Mizuho raised shares of Consolidated Edison from a "neutral" rating to an "outperform" rating and lifted their target price for the stock from $105.00 to $107.00 in a research note on Monday, June 30th. Wells Fargo & Company boosted 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 note on Friday, May 2nd. Barclays boosted their price objective 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. Finally, Morgan Stanley lowered their price objective 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. Two 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. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $105.09.

Consolidated Edison Stock Performance

Shares of ED stock opened at $102.05 on Tuesday. Consolidated Edison Inc has a 12 month low of $87.28 and a 12 month high of $114.87. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.28 and a quick ratio of 1.19. The firm has a market capitalization of $36.77 billion, a P/E ratio of 18.86, a P/E/G ratio of 3.23 and a beta of 0.26. The company's fifty day moving average price is $101.68 and its two-hundred day moving average price is $101.89.

Consolidated Edison (NYSE:ED - Get Free Report) last issued its earnings results 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). The company had revenue of $4.80 billion during the quarter, compared to analyst estimates of $4.21 billion. Consolidated Edison had a net margin of 11.98% and a return on equity of 8.61%. During the same quarter last year, the company posted $2.15 EPS. On average, research analysts anticipate that Consolidated Edison Inc will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Wednesday, August 13th will be paid a dividend of $0.85 per share. The ex-dividend date is Wednesday, August 13th. This represents a $3.40 annualized dividend and a yield of 3.33%. Consolidated Edison's dividend payout ratio (DPR) 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.

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