Quotient Wealth Partners LLC Makes New $300,000 Investment in Consolidated Edison, Inc. (NYSE:ED)

Quotient Wealth Partners LLC acquired a new position in Consolidated Edison, Inc. (NYSE:EDFree Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 3,298 shares of the utilities provider’s stock, valued at approximately $300,000.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Financial Gravity Asset Management Inc. increased its holdings in shares of Consolidated Edison by 215.6% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 284 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 194 shares in the last quarter. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Consolidated Edison in the 4th quarter worth $29,000. Bruce G. Allen Investments LLC purchased a new position in shares of Consolidated Edison in the 4th quarter worth $31,000. CVA Family Office LLC purchased a new position in shares of Consolidated Edison in the 4th quarter worth $32,000. Finally, Venturi Wealth Management LLC boosted its stake in shares of Consolidated Edison by 62.2% in the 3rd quarter. Venturi Wealth Management LLC now owns 477 shares of the utilities provider’s stock worth $41,000 after buying an additional 183 shares during the last quarter. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Consolidated Edison Stock Up 0.3 %

Consolidated Edison stock traded up $0.33 during mid-day trading on Wednesday, reaching $96.97. 494,223 shares of the company were exchanged, compared to its average volume of 1,877,522. The business has a fifty day moving average of $91.60 and a 200 day moving average of $90.62. 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 $33.54 billion, a P/E ratio of 18.61, a PEG ratio of 9.19 and a beta of 0.34. Consolidated Edison, Inc. has a 12-month low of $80.46 and a 12-month high of $98.85.

Consolidated Edison (NYSE:EDGet Free Report) last issued its quarterly earnings results on Thursday, May 2nd. The utilities provider reported $2.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.89 by $0.26. The business had revenue of $4.28 billion for the quarter, compared to the consensus estimate of $4.40 billion. Consolidated Edison had a return on equity of 8.79% and a net margin of 12.43%. The business’s quarterly revenue was down 2.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.83 earnings per share. Research analysts anticipate that Consolidated Edison, Inc. will post 5.31 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Wednesday, May 15th will be paid a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date is Tuesday, May 14th. Consolidated Edison’s dividend payout ratio is presently 63.72%.

Analyst Ratings Changes

Several equities analysts recently weighed in on ED shares. Barclays lifted their target price on Consolidated Edison from $89.00 to $97.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 7th. UBS Group lowered their target price on Consolidated Edison from $99.00 to $94.00 and set a “neutral” rating on the stock in a research report on Friday, February 16th. Wells Fargo & Company lifted their target price on Consolidated Edison from $93.00 to $97.00 and gave the company an “equal weight” rating in a research report on Friday, May 3rd. Royal Bank of Canada lowered their target price on Consolidated Edison from $94.00 to $93.00 and set a “sector perform” rating on the stock in a research report on Friday, February 16th. Finally, Scotiabank lowered their price objective on 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. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Consolidated Edison presently has a consensus rating of “Hold” and a consensus price target of $88.46.

Read Our Latest Stock Analysis on Consolidated Edison

Consolidated Edison 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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