Wealth Enhancement Advisory Services LLC Has $27.65 Million Holdings in Consolidated Edison Inc (NYSE:ED)

Wealth Enhancement Advisory Services LLC raised its stake in shares of Consolidated Edison Inc (NYSE:ED - Free Report) by 2.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 250,014 shares of the utilities provider's stock after purchasing an additional 6,869 shares during the period. Wealth Enhancement Advisory Services LLC owned 0.07% of Consolidated Edison worth $27,649,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. OFI Invest Asset Management bought a new position in shares of Consolidated Edison in the fourth quarter worth about $35,000. Wood Tarver Financial Group LLC acquired a new stake in Consolidated Edison in the 4th quarter valued at approximately $35,000. Fairway Wealth LLC bought a new position in Consolidated Edison in the 4th quarter worth approximately $36,000. Centricity Wealth Management LLC acquired a new position in shares of Consolidated Edison during the fourth quarter worth approximately $39,000. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Consolidated Edison during the fourth quarter worth approximately $44,000. Institutional investors own 66.29% of the company's stock.

Consolidated Edison Price Performance

Shares of Consolidated Edison stock traded down $2.16 during trading on Wednesday, hitting $98.03. 4,396,817 shares of the company's stock traded hands, compared to its average volume of 2,363,297. 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's fifty day moving average price is $105.67 and its 200 day moving average price is $100.65. Consolidated Edison Inc has a twelve month low of $87.28 and a twelve month high of $114.87. The company has a market cap of $35.32 billion, a PE ratio of 18.12, a PEG ratio of 3.23 and a beta of 0.27.

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 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 analyst estimates of $4.21 billion. During the same quarter last year, the firm posted $2.15 earnings per share. Analysts forecast that Consolidated Edison Inc will post 5.62 earnings per share for the current year.

Consolidated Edison Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Wednesday, May 14th were given a dividend of $0.85 per share. The ex-dividend date of this dividend was Wednesday, May 14th. This represents a $3.40 annualized dividend and a dividend yield of 3.47%. Consolidated Edison's dividend payout ratio (DPR) is currently 62.85%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on ED shares. KeyCorp lowered shares of Consolidated Edison from a "sector weight" rating to an "underweight" rating and set a $90.00 target price on the stock. in a research report on Wednesday, May 14th. Wells Fargo & Company raised their price target on shares of Consolidated Edison from $103.00 to $114.00 and gave the stock an "equal weight" rating in a research report on Friday, May 2nd. Guggenheim raised their price target on shares of Consolidated Edison from $96.00 to $103.00 and gave the stock a "neutral" rating in a research report on Friday, May 2nd. Barclays raised their price target on shares of Consolidated Edison from $100.00 to $101.00 and gave the stock an "underweight" rating in a research report on Monday, May 5th. Finally, Morgan Stanley decreased their price target on shares of Consolidated Edison from $93.00 to $92.00 and set an "underweight" rating on the stock in a research report on Wednesday, June 18th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $104.18.

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.