Avantax Advisory Services Inc. Has $1.99 Million Holdings in Consolidated Edison, Inc. (NYSE:ED)

Avantax Advisory Services Inc. lowered its position in shares of Consolidated Edison, Inc. (NYSE:EDFree Report) by 6.3% in the third quarter, Holdings Channel reports. The institutional investor owned 23,287 shares of the utilities provider’s stock after selling 1,554 shares during the period. Avantax Advisory Services Inc.’s holdings in Consolidated Edison were worth $1,992,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. IHT Wealth Management LLC raised its holdings in shares of Consolidated Edison by 1.4% in the 4th quarter. IHT Wealth Management LLC now owns 7,941 shares of the utilities provider’s stock valued at $757,000 after acquiring an additional 110 shares in the last quarter. Lido Advisors LLC raised its holdings in shares of Consolidated Edison by 0.3% in the 1st quarter. Lido Advisors LLC now owns 43,881 shares of the utilities provider’s stock valued at $4,198,000 after acquiring an additional 113 shares in the last quarter. Kistler Tiffany Companies LLC raised its holdings in shares of Consolidated Edison by 2.4% in the 2nd quarter. Kistler Tiffany Companies LLC now owns 4,916 shares of the utilities provider’s stock valued at $444,000 after acquiring an additional 115 shares in the last quarter. Retirement Group LLC raised its holdings in shares of Consolidated Edison by 74.8% in the 4th quarter. Retirement Group LLC now owns 271 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 116 shares in the last quarter. Finally, Brinker Capital Investments LLC raised its holdings in shares of Consolidated Edison by 1.2% in the 1st quarter. Brinker Capital Investments LLC now owns 9,592 shares of the utilities provider’s stock valued at $908,000 after acquiring an additional 117 shares in the last quarter. Institutional investors and hedge funds own 64.53% of the company’s stock.

Consolidated Edison Price Performance

Shares of Consolidated Edison stock opened at $89.77 on Wednesday. Consolidated Edison, Inc. has a 12 month low of $80.46 and a 12 month high of $100.92. The company has a current ratio of 0.98, a quick ratio of 0.91 and a debt-to-equity ratio of 0.98. The stock has a 50 day moving average of $91.05 and a 200 day moving average of $90.10. The firm has a market cap of $30.99 billion, a PE ratio of 13.30, a PEG ratio of 8.48 and a beta of 0.37.

Consolidated Edison Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Shareholders of record on Wednesday, February 14th will be given a dividend of $0.83 per share. The ex-dividend date is Tuesday, February 13th. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.81. This represents a $3.32 dividend on an annualized basis and a yield of 3.70%. Consolidated Edison’s dividend payout ratio is 48.00%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Wells Fargo & Company raised Consolidated Edison from an “underweight” rating to an “equal weight” rating and decreased their price objective for the company from $96.00 to $94.00 in a report on Tuesday, October 17th. LADENBURG THALM/SH SH assumed coverage on Consolidated Edison in a report on Wednesday, January 3rd. They set a “neutral” rating and a $92.50 price objective on the stock. Morgan Stanley raised their price objective on Consolidated Edison from $71.00 to $73.00 and gave the company an “underweight” rating in a report on Tuesday, November 21st. KeyCorp raised Consolidated Edison from an “underweight” rating to a “sector weight” rating in a report on Thursday, January 4th. Finally, Barclays decreased their price target on Consolidated Edison from $88.00 to $86.00 and set an “equal weight” rating on the stock in a research note on Monday, January 22nd. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Consolidated Edison presently has an average rating of “Hold” and a consensus price target of $88.46.

Check Out Our Latest Research Report on Consolidated Edison

Consolidated Edison Company Profile

(Free Report)

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 3.6 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.

Further Reading

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

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