XML Financial LLC Acquires Shares of 3,345 Consolidated Edison, Inc. (NYSE:ED)

XML Financial LLC acquired a new stake in Consolidated Edison, Inc. (NYSE:EDFree Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 3,345 shares of the utilities provider’s stock, valued at approximately $304,000.

A number of other large investors have also recently made changes to their positions in the business. Legal & General Group Plc lifted its position in shares of Consolidated Edison by 0.5% during the third quarter. Legal & General Group Plc now owns 6,201,026 shares of the utilities provider’s stock valued at $530,373,000 after purchasing an additional 27,850 shares in the last quarter. Northern Trust Corp lifted its position in shares of Consolidated Edison by 8.2% during the third quarter. Northern Trust Corp now owns 4,484,026 shares of the utilities provider’s stock valued at $383,519,000 after purchasing an additional 340,239 shares in the last quarter. Morgan Stanley lifted its position in shares of Consolidated Edison by 1.8% during the third quarter. Morgan Stanley now owns 4,221,543 shares of the utilities provider’s stock valued at $361,069,000 after purchasing an additional 72,915 shares in the last quarter. Invesco Ltd. lifted its position in shares of Consolidated Edison by 4.5% during the third quarter. Invesco Ltd. now owns 2,976,921 shares of the utilities provider’s stock valued at $254,616,000 after purchasing an additional 129,519 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Consolidated Edison during the fourth quarter valued at about $243,511,000. 66.29% of the stock is owned by institutional investors.

Analyst Ratings Changes

ED has been the topic of a number of recent analyst reports. Scotiabank dropped their price target on shares of Consolidated Edison from $91.00 to $85.00 and set a “sector underperform” rating on the stock in a research report on Monday, April 22nd. Morgan Stanley raised their price target on shares of Consolidated Edison from $73.00 to $80.00 and gave the company an “underweight” rating in a research report on Tuesday, May 28th. Wells Fargo & Company raised their price target on shares of Consolidated Edison from $93.00 to $97.00 and gave the company an “equal weight” rating in a research report on Friday, May 3rd. Mizuho raised their price objective on shares of Consolidated Edison from $93.00 to $95.00 and gave the stock a “neutral” rating in a report on Tuesday, May 28th. Finally, Royal Bank of Canada decreased their price objective on shares of Consolidated Edison from $94.00 to $93.00 and set a “sector perform” rating for the company in a report on Friday, February 16th. Three analysts have rated the stock with a sell rating, eight have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $89.58.

Check Out Our Latest Analysis on ED

Consolidated Edison Price Performance

ED opened at $92.32 on Tuesday. The company has a market capitalization of $31.93 billion, a price-to-earnings ratio of 17.72, a PEG ratio of 2.32 and a beta of 0.35. The company has a quick ratio of 0.92, a current ratio of 0.99 and a debt-to-equity ratio of 1.01. The firm has a 50-day moving average price of $93.39 and a 200-day moving average price of $91.21. Consolidated Edison, Inc. has a twelve month low of $80.46 and a twelve month high of $98.85.

Consolidated Edison (NYSE:EDGet Free Report) last posted its earnings results on Thursday, May 2nd. The utilities provider reported $2.15 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.26. The firm had revenue of $4.28 billion during the quarter, compared to the consensus estimate of $4.40 billion. Consolidated Edison had a net margin of 12.43% and a return on equity of 8.79%. The company’s revenue was down 2.8% on a year-over-year basis. During the same quarter last year, the company earned $1.83 earnings per share. Equities analysts expect that Consolidated Edison, Inc. will post 5.34 EPS for the current year.

Consolidated Edison Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Wednesday, May 15th will be paid a dividend of $0.83 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $3.32 annualized dividend and a yield of 3.60%. Consolidated Edison’s dividend payout ratio is currently 63.72%.

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 3.7 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.

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

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