Consolidated Edison, Inc. (NYSE:ED) Shares Bought by LVW Advisors LLC

LVW Advisors LLC boosted its position in shares of Consolidated Edison, Inc. (NYSE:ED) by 93.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,158 shares of the utilities provider’s stock after buying an additional 3,466 shares during the period. LVW Advisors LLC’s holdings in Consolidated Edison were worth $650,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Consolidated Edison in the fourth quarter valued at approximately $243,511,000. International Assets Investment Management LLC boosted its stake in shares of Consolidated Edison by 9,063.6% in the fourth quarter. International Assets Investment Management LLC now owns 519,028 shares of the utilities provider’s stock valued at $47,216,000 after buying an additional 513,364 shares in the last quarter. Retirement Systems of Alabama boosted its stake in shares of Consolidated Edison by 408.8% in the fourth quarter. Retirement Systems of Alabama now owns 396,849 shares of the utilities provider’s stock valued at $36,101,000 after buying an additional 318,858 shares in the last quarter. Pinebridge Investments L.P. boosted its stake in shares of Consolidated Edison by 56.1% in the fourth quarter. Pinebridge Investments L.P. now owns 702,721 shares of the utilities provider’s stock valued at $63,927,000 after buying an additional 252,617 shares in the last quarter. Finally, AMF Tjanstepension AB purchased a new stake in shares of Consolidated Edison in the first quarter valued at approximately $13,193,000. Institutional investors and hedge funds own 66.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ED. Barclays lifted their price target on Consolidated Edison from $89.00 to $97.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 7th. Argus upgraded Consolidated Edison to a “strong-buy” rating in a research note on Friday, June 7th. Wells Fargo & Company lifted their price target on Consolidated Edison from $93.00 to $97.00 and gave the company an “equal weight” rating in a research note on Friday, May 3rd. Scotiabank decreased their price target on Consolidated Edison from $91.00 to $85.00 and set a “sector underperform” rating on the stock in a research note on Monday, April 22nd. Finally, Morgan Stanley lowered their target price on Consolidated Edison from $80.00 to $76.00 and set an “underweight” rating on the stock in a report on Monday, June 24th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $89.27.

Consolidated Edison Stock Down 0.7 %

ED opened at $88.83 on Tuesday. The company has a quick ratio of 0.92, a current ratio of 0.99 and a debt-to-equity ratio of 1.01. The firm has a market cap of $30.72 billion, a P/E ratio of 17.05, a PEG 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 fifty day simple moving average is $93.56 and its 200 day simple moving average is $91.11.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings data on Thursday, May 2nd. The utilities provider reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.26. The business had revenue of $4.28 billion for the quarter, compared to analyst estimates of $4.40 billion. Consolidated Edison had a return on equity of 8.79% and a net margin of 12.43%. The business’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.83 earnings per share. As a group, equities research analysts anticipate that Consolidated Edison, Inc. will post 5.33 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Wednesday, May 15th were given a dividend of $0.83 per share. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $3.32 annualized dividend and a yield of 3.74%. Consolidated Edison’s dividend payout ratio (DPR) is presently 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.