EP Wealth Advisors LLC Purchases 346 Shares of Consolidated Edison, Inc. (NYSE:ED)

EP Wealth Advisors LLC lifted its position in Consolidated Edison, Inc. (NYSE:ED) by 2.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,621 shares of the utilities provider’s stock after acquiring an additional 346 shares during the quarter. EP Wealth Advisors LLC’s holdings in Consolidated Edison were worth $1,148,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Advisors Capital Management LLC grew its position in Consolidated Edison by 3.8% in the 3rd quarter. Advisors Capital Management LLC now owns 3,312 shares of the utilities provider’s stock valued at $283,000 after acquiring an additional 122 shares during the last quarter. Jeppson Wealth Management LLC increased its stake in Consolidated Edison by 1.6% in the 4th quarter. Jeppson Wealth Management LLC now owns 7,716 shares of the utilities provider’s stock worth $702,000 after buying an additional 125 shares during the period. Sandy Spring Bank lifted its holdings in Consolidated Edison by 11.4% during the 4th quarter. Sandy Spring Bank now owns 1,222 shares of the utilities provider’s stock valued at $111,000 after buying an additional 125 shares in the last quarter. Syon Capital LLC boosted its position in Consolidated Edison by 2.3% in the 4th quarter. Syon Capital LLC now owns 5,954 shares of the utilities provider’s stock valued at $542,000 after buying an additional 136 shares during the period. Finally, Syntax Advisors LLC grew its stake in Consolidated Edison by 5.5% in the 3rd quarter. Syntax Advisors LLC now owns 2,758 shares of the utilities provider’s stock worth $236,000 after acquiring an additional 144 shares in the last quarter. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Stock Performance

Shares of ED opened at $90.65 on Tuesday. Consolidated Edison, Inc. has a 12 month low of $80.46 and a 12 month high of $98.85. The stock has a fifty day moving average price of $93.47 and a 200-day moving average price of $91.23. The company has a current ratio of 0.99, a quick ratio of 0.92 and a debt-to-equity ratio of 1.01. The firm has a market cap of $31.35 billion, a PE ratio of 17.40, a P/E/G ratio of 2.30 and a beta of 0.35.

Consolidated Edison (NYSE:ED) last released its quarterly earnings results on Thursday, May 2nd. The utilities provider reported $2.15 EPS for the quarter, beating 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 company had revenue of $4.28 billion during the quarter, compared to analysts’ expectations of $4.40 billion. During the same period last year, the business posted $1.83 earnings per share. The firm’s revenue was down 2.8% compared to the same quarter last year. Equities research analysts predict that Consolidated Edison, Inc. will post 5.34 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Wednesday, May 15th were paid a dividend of $0.83 per share. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $3.32 dividend on an annualized basis and a yield of 3.66%. Consolidated Edison’s payout ratio is 63.72%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on ED shares. Scotiabank lowered their price target on Consolidated Edison from $91.00 to $85.00 and set a “sector underperform” rating for the company in a report on Monday, April 22nd. Wells Fargo & Company increased their price target on Consolidated Edison from $93.00 to $97.00 and gave the stock an “equal weight” rating in a research report on Friday, May 3rd. Barclays lifted their price objective on Consolidated Edison from $89.00 to $97.00 and gave the company an “equal weight” rating in a report on Tuesday, May 7th. Argus upgraded shares of Consolidated Edison to a “strong-buy” rating in a report on Friday, June 7th. Finally, Mizuho boosted their price target on shares of Consolidated Edison from $93.00 to $95.00 and gave the company a “neutral” rating in a report on Tuesday, May 28th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $89.58.

Consolidated Edison Company Profile

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.