Secured Retirement Advisors LLC Takes Position in Consolidated Edison Inc (NYSE:ED)

Secured Retirement Advisors LLC purchased a new stake in shares of Consolidated Edison Inc (NYSE:ED - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 14,692 shares of the utilities provider's stock, valued at approximately $1,625,000. Consolidated Edison makes up 1.0% of Secured Retirement Advisors LLC's portfolio, making the stock its 23rd biggest position.

Several other institutional investors also recently bought and sold shares of the stock. Norges Bank purchased a new position in shares of Consolidated Edison in the 4th quarter valued at about $399,824,000. GAMMA Investing LLC grew its holdings in Consolidated Edison by 15,937.5% in the first quarter. GAMMA Investing LLC now owns 1,022,073 shares of the utilities provider's stock valued at $113,031,000 after purchasing an additional 1,015,700 shares during the period. ExodusPoint Capital Management LP increased its position in shares of Consolidated Edison by 412.0% in the fourth quarter. ExodusPoint Capital Management LP now owns 1,093,402 shares of the utilities provider's stock valued at $97,564,000 after buying an additional 879,866 shares in the last quarter. Invesco Ltd. raised its stake in shares of Consolidated Edison by 27.9% during the 4th quarter. Invesco Ltd. now owns 3,721,730 shares of the utilities provider's stock worth $332,090,000 after buying an additional 812,885 shares during the period. Finally, Marshall Wace LLP lifted its position in shares of Consolidated Edison by 232.3% during the 4th quarter. Marshall Wace LLP now owns 1,053,339 shares of the utilities provider's stock valued at $93,989,000 after buying an additional 736,348 shares in the last quarter. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ED has been the subject of several recent analyst reports. KeyCorp lowered shares of Consolidated Edison from a "sector weight" rating to an "underweight" rating and set a $90.00 price target for the company. in a report on Wednesday, May 14th. UBS Group boosted their target price on shares of Consolidated Edison from $110.00 to $113.00 and gave the stock a "neutral" rating in a research note on Friday, March 21st. Wells Fargo & Company raised their price target 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 lifted their price objective on Consolidated Edison from $100.00 to $101.00 and gave the stock an "underweight" rating in a report on Monday, May 5th. Finally, Citigroup increased their target price on Consolidated Edison from $116.00 to $120.00 and gave the company a "buy" rating in a report on Wednesday, April 9th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $105.27.

Consolidated Edison Price Performance

Shares of Consolidated Edison stock traded down $0.48 on Friday, hitting $100.59. 1,853,686 shares of the company were exchanged, compared to its average volume of 2,411,949. The company has a quick ratio of 1.19, a current ratio of 1.28 and a debt-to-equity ratio of 1.04. The company has a 50-day moving average price of $102.54 and a 200 day moving average price of $101.41. The stock has a market capitalization of $36.24 billion, a price-to-earnings ratio of 18.59, a price-to-earnings-growth ratio of 3.21 and a beta of 0.26. 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 released its quarterly earnings data on Thursday, May 1st. The utilities provider reported $2.25 earnings per share for the quarter, missing analysts' consensus estimates of $2.30 by ($0.05). Consolidated Edison had a return on equity of 8.61% and a net margin of 11.98%. The company had revenue of $4.80 billion for the quarter, compared to analyst estimates of $4.21 billion. During the same period last year, the firm posted $2.15 EPS. As a group, sell-side analysts predict that Consolidated Edison Inc will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Wednesday, May 14th were issued a $0.85 dividend. The ex-dividend date was Wednesday, May 14th. This represents a $3.40 annualized dividend and a yield of 3.38%. Consolidated Edison's 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.