Wealthfront Advisers LLC Has $17.09 Million Stock Holdings in Consolidated Edison Inc $ED

Wealthfront Advisers LLC lifted its position in Consolidated Edison Inc (NYSE:ED) by 5.7% during the 1st quarter, Holdings Channel reports. The firm owned 150,994 shares of the utilities provider’s stock after buying an additional 8,208 shares during the quarter. Wealthfront Advisers LLC’s holdings in Consolidated Edison were worth $17,090,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Revolve Wealth Partners LLC grew its stake in Consolidated Edison by 13.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 3,721 shares of the utilities provider’s stock worth $332,000 after buying an additional 441 shares during the last quarter. Empowered Funds LLC raised its stake in shares of Consolidated Edison by 42.1% in the first quarter. Empowered Funds LLC now owns 8,978 shares of the utilities provider’s stock valued at $993,000 after acquiring an additional 2,659 shares during the last quarter. Woodline Partners LP raised its stake in shares of Consolidated Edison by 40.7% in the first quarter. Woodline Partners LP now owns 29,271 shares of the utilities provider’s stock valued at $3,237,000 after acquiring an additional 8,468 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in shares of Consolidated Edison in the 2nd quarter worth approximately $3,256,000. Finally, Baird Financial Group Inc. boosted its holdings in shares of Consolidated Edison by 2.1% in the 2nd quarter. Baird Financial Group Inc. now owns 14,679 shares of the utilities provider’s stock worth $1,473,000 after acquiring an additional 296 shares in the last quarter. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Price Performance

Shares of ED stock opened at $112.21 on Friday. Consolidated Edison Inc has a 1 year low of $94.96 and a 1 year high of $116.23. The company has a current ratio of 1.19, a quick ratio of 1.09 and a debt-to-equity ratio of 1.00. The firm’s 50 day moving average is $108.37 and its 200-day moving average is $108.56. The firm has a market capitalization of $41.35 billion, a price-to-earnings ratio of 18.89, a PEG ratio of 2.80 and a beta of 0.27.

Consolidated Edison Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Wednesday, August 19th will be given a $0.8875 dividend. This represents a $3.55 annualized dividend and a yield of 3.2%. The ex-dividend date is Wednesday, August 19th. Consolidated Edison’s payout ratio is 59.76%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on ED shares. Argus set a $112.00 price target on Consolidated Edison in a report on Tuesday, June 23rd. Barclays reduced their price objective on Consolidated Edison from $110.00 to $107.00 and set an “underweight” rating on the stock in a research note on Monday, May 11th. The Goldman Sachs Group restated a “sell” rating and set a $105.00 target price on shares of Consolidated Edison in a report on Thursday, May 14th. Mizuho restated a “neutral” rating and issued a $105.00 target price on shares of Consolidated Edison in a research note on Tuesday, June 2nd. Finally, Morgan Stanley restated an “underweight” rating on shares of Consolidated Edison in a research note on Wednesday, June 24th. Two investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and six have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average target price of $108.07.

About Consolidated Edison

Consolidated Edison, Inc, commonly known as Con Edison, is an investor-owned energy company that primarily delivers electricity, natural gas and steam to customers in the New York metropolitan area. Its regulated utility operations include the distribution and transmission of electric power, the distribution of natural gas, and the operation of one of the largest district steam systems in the United States, serving commercial, institutional and residential customers in New York City and nearby counties.

The company operates through regulated utility subsidiaries that serve urban and suburban service territories, together with non-utility businesses that develop, own and manage energy infrastructure and clean energy projects.