Steward Partners Investment Advisory LLC Acquires New Stake in Consolidated Edison, Inc. (NYSE:ED)

Steward Partners Investment Advisory LLC purchased a new stake in Consolidated Edison, Inc. (NYSE:ED) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 3,114 shares of the utilities provider’s stock, valued at approximately $251,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Fiera Capital Corp grew its stake in shares of Consolidated Edison by 0.3% in the second quarter. Fiera Capital Corp now owns 4,895 shares of the utilities provider’s stock worth $395,000 after purchasing an additional 13 shares during the last quarter. Teacher Retirement System of Texas raised its holdings in shares of Consolidated Edison by 0.6% in the 2nd quarter. Teacher Retirement System of Texas now owns 3,186 shares of the utilities provider’s stock worth $257,000 after acquiring an additional 18 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Consolidated Edison by 0.3% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 22,688 shares of the utilities provider’s stock valued at $1,834,000 after buying an additional 59 shares during the last quarter. First Allied Advisory Services Inc. increased its stake in Consolidated Edison by 1.1% in the 2nd quarter. First Allied Advisory Services Inc. now owns 9,812 shares of the utilities provider’s stock valued at $792,000 after buying an additional 106 shares during the last quarter. Finally, Bank of Hawaii increased its stake in Consolidated Edison by 0.7% in the 2nd quarter. Bank of Hawaii now owns 16,649 shares of the utilities provider’s stock valued at $1,346,000 after buying an additional 116 shares during the last quarter. 55.50% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Consolidated Edison, Inc. (NYSE:ED) traded down $0.53 during mid-day trading on Thursday, reaching $80.39. 1,514,329 shares of the company’s stock were exchanged, compared to its average volume of 1,807,129. The stock has a market capitalization of $24,990.00, a PE ratio of 20.15, a P/E/G ratio of 9.60 and a beta of 0.10. Consolidated Edison, Inc. has a twelve month low of $72.13 and a twelve month high of $89.70. The company has a current ratio of 0.79, a quick ratio of 0.70 and a debt-to-equity ratio of 0.97.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings results on Thursday, November 2nd. The utilities provider reported $1.47 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.54 by ($0.07). Consolidated Edison had a return on equity of 8.42% and a net margin of 10.42%. The firm had revenue of $3.21 billion during the quarter, compared to the consensus estimate of $3.14 billion. During the same quarter in the previous year, the company earned $1.51 earnings per share. sell-side analysts predict that Consolidated Edison, Inc. will post 4.09 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Wednesday, November 15th were given a dividend of $0.69 per share. The ex-dividend date was Tuesday, November 14th. This represents a $2.76 annualized dividend and a yield of 3.43%. Consolidated Edison’s dividend payout ratio (DPR) is currently 69.17%.

ED has been the subject of a number of research reports. Zacks Investment Research raised shares of Consolidated Edison from a “hold” rating to a “buy” rating and set a $90.00 target price for the company in a research report on Monday, October 2nd. ValuEngine raised shares of Consolidated Edison from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Bank of America began coverage on shares of Consolidated Edison in a report on Tuesday, October 24th. They issued a “buy” rating and a $92.00 price target for the company. Guggenheim reiterated a “hold” rating and issued a $88.00 target price on shares of Consolidated Edison in a research report on Wednesday, January 3rd. Finally, KeyCorp reiterated a “hold” rating on shares of Consolidated Edison in a research report on Friday, October 20th. Five research analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $80.95.

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Consolidated Edison Company Profile

Consolidated Edison, Inc (Con Edison) is a holding company. The Company operates through its subsidiaries, which include Consolidated Edison Company of New York, Inc (CECONY), Orange and Rockland Utilities, Inc (O&R), Con Edison Clean Energy Businesses, Inc (the Clean Energy Businesses) and Con Edison Transmission, Inc (Con Edison Transmission).

Institutional Ownership by Quarter for Consolidated Edison (NYSE:ED)

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