Consolidated Edison, Inc. (NYSE:ED) Shares Purchased by Foster & Motley Inc.

Foster & Motley Inc. increased its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 42.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,892 shares of the utilities provider’s stock after acquiring an additional 1,447 shares during the period. Foster & Motley Inc.’s holdings in Consolidated Edison were worth $437,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Axxcess Wealth Management LLC purchased a new stake in shares of Consolidated Edison in the fourth quarter valued at approximately $280,000. Wealthcare Advisory Partners LLC purchased a new stake in shares of Consolidated Edison in the fourth quarter valued at approximately $217,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new stake in shares of Consolidated Edison in the fourth quarter valued at approximately $208,000. Charles Schwab Investment Management Inc. increased its position in shares of Consolidated Edison by 2.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,032,385 shares of the utilities provider’s stock valued at $184,886,000 after buying an additional 47,936 shares in the last quarter. Finally, Wealthspire Advisors LLC increased its position in shares of Consolidated Edison by 24.7% in the fourth quarter. Wealthspire Advisors LLC now owns 8,454 shares of the utilities provider’s stock valued at $769,000 after buying an additional 1,673 shares in the last quarter. 66.29% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently commented on ED. Bank of America boosted their price objective on Consolidated Edison from $97.00 to $109.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Morgan Stanley lifted their price target on Consolidated Edison from $75.00 to $82.00 and gave the stock an “underweight” rating in a research note on Friday, August 23rd. Scotiabank lifted their price target on Consolidated Edison from $85.00 to $90.00 and gave the stock a “sector underperform” rating in a research note on Tuesday, August 20th. Guggenheim lifted their price target on Consolidated Edison from $88.00 to $91.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Finally, Wells Fargo & Company lifted their price target on Consolidated Edison from $97.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $92.65.

Consolidated Edison Stock Performance

NYSE ED opened at $103.32 on Friday. The stock’s fifty day moving average is $97.19 and its two-hundred day moving average is $93.47. The firm has a market capitalization of $35.73 billion, a P/E ratio of 19.83, a price-to-earnings-growth ratio of 3.43 and a beta of 0.34. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.97 and a current ratio of 1.04. Consolidated Edison, Inc. has a fifty-two week low of $80.46 and a fifty-two week high of $105.99.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.59 EPS for the quarter, beating the consensus estimate of $0.57 by $0.02. Consolidated Edison had a return on equity of 8.67% and a net margin of 12.03%. The business had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.08 billion. During the same quarter in the prior year, the company posted $0.61 EPS. On average, research analysts anticipate that Consolidated Edison, Inc. will post 5.3 earnings per share for the current year.

Consolidated Edison Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Wednesday, August 14th will be paid a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 3.21%. The ex-dividend date of this dividend is Wednesday, August 14th. Consolidated Edison’s dividend payout ratio (DPR) is presently 63.72%.

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.