Consolidated Edison, Inc. (NYSE:ED) Shares Bought by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. grew its position in Consolidated Edison, Inc. (NYSE:ED) by 32.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,673 shares of the utilities provider’s stock after buying an additional 2,868 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Consolidated Edison were worth $1,060,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of ED. Advisors Capital Management LLC boosted 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 buying an additional 122 shares during the period. Jeppson Wealth Management LLC boosted its holdings in Consolidated Edison by 1.6% in the fourth quarter. Jeppson Wealth Management LLC now owns 7,716 shares of the utilities provider’s stock valued at $702,000 after purchasing an additional 125 shares during the period. Sandy Spring Bank boosted its holdings in Consolidated Edison by 11.4% in the fourth quarter. Sandy Spring Bank now owns 1,222 shares of the utilities provider’s stock valued at $111,000 after purchasing an additional 125 shares during the period. Syon Capital LLC grew its stake in Consolidated Edison by 2.3% during the 4th quarter. Syon Capital LLC now owns 5,954 shares of the utilities provider’s stock worth $542,000 after purchasing an additional 136 shares in the last quarter. Finally, G&S Capital LLC increased its holdings in Consolidated Edison by 1.6% during the 1st quarter. G&S Capital LLC now owns 8,747 shares of the utilities provider’s stock worth $794,000 after purchasing an additional 139 shares during the period. 66.29% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently commented on ED shares. Argus raised Consolidated Edison to a “strong-buy” rating in a research report on Friday, June 7th. Morgan Stanley lowered their price target on shares of Consolidated Edison from $80.00 to $76.00 and set an “underweight” rating for the company in a report on Monday, June 24th. Mizuho raised their price objective 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. Scotiabank lowered their target price on shares of Consolidated Edison from $91.00 to $85.00 and set a “sector underperform” rating for the company in a research note on Monday, April 22nd. Finally, Barclays increased their target price on Consolidated Edison from $89.00 to $97.00 and gave the company an “equal weight” rating in a report on Tuesday, May 7th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Consolidated Edison has a consensus rating of “Hold” and a consensus price target of $89.27.

Consolidated Edison Trading Down 0.7 %

ED opened at $88.83 on Tuesday. The firm has a market cap of $30.72 billion, a price-to-earnings ratio of 17.05, a price-to-earnings-growth ratio of 2.27 and a beta of 0.34. Consolidated Edison, Inc. has a 52 week low of $80.46 and a 52 week high of $98.85. The business’s 50 day moving average is $93.56 and its two-hundred day moving average is $91.11. The company has a quick ratio of 0.92, a current ratio of 0.99 and a debt-to-equity ratio of 1.01.

Consolidated Edison (NYSE:ED) last announced its 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 net margin of 12.43% and a return on equity of 8.79%. The business had revenue of $4.28 billion for the quarter, compared to analysts’ expectations of $4.40 billion. During the same period in the previous year, the company posted $1.83 EPS. The company’s quarterly revenue was down 2.8% on a year-over-year basis. On average, research analysts predict that Consolidated Edison, Inc. will post 5.33 EPS for the current year.

Consolidated Edison Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Wednesday, May 15th were issued a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.74%. The ex-dividend date of this dividend was Tuesday, May 14th. Consolidated Edison’s dividend payout ratio is currently 63.72%.

About Consolidated Edison

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.