Personal CFO Solutions LLC Buys 525 Shares of Consolidated Edison, Inc. (NYSE:ED)

Personal CFO Solutions LLC boosted its stake in Consolidated Edison, Inc. (NYSE:EDFree Report) by 20.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,079 shares of the utilities provider’s stock after acquiring an additional 525 shares during the period. Personal CFO Solutions LLC’s holdings in Consolidated Edison were worth $280,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Financial Gravity Asset Management Inc. boosted its holdings in Consolidated Edison by 215.6% in the third quarter. Financial Gravity Asset Management Inc. now owns 284 shares of the utilities provider’s stock valued at $25,000 after acquiring an additional 194 shares in the last quarter. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Consolidated Edison during the 4th quarter valued at $29,000. Tidemark LLC bought a new stake in shares of Consolidated Edison during the 4th quarter valued at $29,000. Bruce G. Allen Investments LLC bought a new stake in shares of Consolidated Edison during the 4th quarter valued at $31,000. Finally, CVA Family Office LLC bought a new stake in shares of Consolidated Edison during the 4th quarter valued at $32,000. Institutional investors own 66.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Wells Fargo & Company boosted their target price on shares of Consolidated Edison from $93.00 to $97.00 and gave the company an “equal weight” rating in a report on Friday, May 3rd. Morgan Stanley boosted their target price on shares of Consolidated Edison from $73.00 to $80.00 and gave the company an “underweight” rating in a report on Tuesday, May 28th. Barclays boosted their target price on shares of Consolidated Edison from $89.00 to $97.00 and gave the company an “equal weight” rating in a report on Tuesday, May 7th. Scotiabank dropped their target price on shares of Consolidated Edison from $91.00 to $85.00 and set a “sector underperform” rating on the stock in a report on Monday, April 22nd. Finally, Royal Bank of Canada lowered their price target on Consolidated Edison from $94.00 to $93.00 and set a “sector perform” rating for the company in a research report on Friday, February 16th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Consolidated Edison presently has an average rating of “Hold” and an average target price of $89.58.

Check Out Our Latest Stock Analysis on Consolidated Edison

Consolidated Edison Price Performance

Shares of NYSE:ED opened at $92.32 on Tuesday. Consolidated Edison, Inc. has a fifty-two week low of $80.46 and a fifty-two week high of $98.85. The business has a 50-day simple moving average of $93.39 and a two-hundred day simple moving average of $91.21. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.92 and a current ratio of 0.99. The firm has a market cap of $31.93 billion, a price-to-earnings ratio of 17.72, a price-to-earnings-growth ratio of 2.32 and a beta of 0.35.

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

Consolidated Edison Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Wednesday, May 15th will be given a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 3.60%. The ex-dividend date is Tuesday, May 14th. Consolidated Edison’s 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.

See Also

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

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