Consolidated Edison, Inc. (NYSE:ED) Shares Bought by HighTower Advisors LLC

HighTower Advisors LLC boosted its position in shares of Consolidated Edison, Inc. (NYSE:EDFree Report) by 0.6% during the 3rd quarter, HoldingsChannel reports. The firm owned 179,420 shares of the utilities provider’s stock after buying an additional 1,045 shares during the quarter. HighTower Advisors LLC’s holdings in Consolidated Edison were worth $15,358,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ED. Retirement Group LLC grew its holdings in shares of Consolidated Edison by 74.8% during 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. Missouri Trust & Investment Co purchased a new position in shares of Consolidated Edison during the 2nd quarter valued at $27,000. Level Financial Advisors Inc. purchased a new position in shares of Consolidated Edison during the 3rd quarter valued at $26,000. Tyler Stone Wealth Management purchased a new position in shares of Consolidated Edison during the 2nd quarter valued at $28,000. Finally, CGC Financial Services LLC purchased a new position in shares of Consolidated Edison during the 2nd quarter valued at $30,000. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ED. JPMorgan Chase & Co. upped their price objective on shares of Consolidated Edison from $84.00 to $87.00 and gave the stock an “underweight” rating in a report on Wednesday, November 29th. Barclays decreased their price objective on shares of Consolidated Edison from $88.00 to $86.00 and set an “equal weight” rating for the company in a report on Monday, January 22nd. Morgan Stanley upped their price objective on shares of Consolidated Edison from $71.00 to $73.00 and gave the stock an “underweight” rating in a report on Tuesday, November 21st. LADENBURG THALM/SH SH began coverage on shares of Consolidated Edison in a report on Wednesday, January 3rd. They issued a “neutral” rating and a $92.50 price objective for the company. Finally, Wells Fargo & Company upgraded shares of Consolidated Edison from an “underweight” rating to an “equal weight” rating and decreased their price objective for the stock from $96.00 to $94.00 in a report on Tuesday, October 17th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $88.46.

Check Out Our Latest Analysis on Consolidated Edison

Consolidated Edison Trading Up 0.5 %

Shares of NYSE ED opened at $89.47 on Tuesday. The company’s 50 day simple moving average is $90.91 and its 200 day simple moving average is $89.88. Consolidated Edison, Inc. has a fifty-two week low of $80.46 and a fifty-two week high of $100.92. The firm has a market capitalization of $30.89 billion, a P/E ratio of 13.25, a P/E/G ratio of 8.42 and a beta of 0.37. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.98 and a quick ratio of 0.91.

Consolidated Edison Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Wednesday, February 14th will be issued a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.71%. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.81. The ex-dividend date of this dividend is Tuesday, February 13th. Consolidated Edison’s dividend payout ratio (DPR) is presently 48.00%.

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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