Oppenheimer & Co. Inc. Increases Stock Position in Consolidated Edison, Inc. (NYSE:ED)

Oppenheimer & Co. Inc. boosted its holdings in shares of Consolidated Edison, Inc. (NYSE:ED) by 3.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,188 shares of the utilities provider’s stock after buying an additional 655 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Consolidated Edison were worth $1,984,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Beacon Capital Management LLC increased its position in Consolidated Edison by 2,307.7% during the 1st quarter. Beacon Capital Management LLC now owns 313 shares of the utilities provider’s stock valued at $28,000 after buying an additional 300 shares in the last quarter. Tidemark LLC purchased a new position in shares of Consolidated Edison in the 4th quarter valued at approximately $29,000. Raleigh Capital Management Inc. acquired a new stake in Consolidated Edison in the 4th quarter worth approximately $29,000. Pathway Financial Advisers LLC purchased a new stake in Consolidated Edison during the 1st quarter worth approximately $33,000. Finally, TruNorth Capital Management LLC acquired a new position in Consolidated Edison during the 2nd quarter valued at approximately $33,000. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Trading Up 0.3 %

Shares of Consolidated Edison stock opened at $104.85 on Tuesday. Consolidated Edison, Inc. has a fifty-two week low of $80.46 and a fifty-two week high of $105.99. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.97 and a current ratio of 1.04. The company has a market cap of $36.26 billion, a P/E ratio of 20.12, a price-to-earnings-growth ratio of 3.50 and a beta of 0.36. The firm has a 50-day simple moving average of $99.06 and a two-hundred day simple moving average of $94.28.

Consolidated Edison (NYSE:ED) last released its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. Consolidated Edison had a return on equity of 8.67% and a net margin of 12.03%. The company had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.08 billion. During the same quarter in the prior year, the firm posted $0.61 EPS. As a group, equities analysts predict that Consolidated Edison, Inc. will post 5.31 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Wednesday, August 14th were paid a $0.83 dividend. The ex-dividend date was Wednesday, August 14th. This represents a $3.32 dividend on an annualized basis and a yield of 3.17%. Consolidated Edison’s dividend payout ratio is currently 63.72%.

Analyst Ratings Changes

Several equities research analysts have recently commented on ED shares. Scotiabank lifted their price objective on shares of Consolidated Edison from $85.00 to $90.00 and gave the stock a “sector underperform” rating in a research note on Tuesday, August 20th. Argus upgraded Consolidated Edison to a “strong-buy” rating in a research note on Friday, June 7th. Guggenheim lifted their target price on Consolidated Edison from $88.00 to $91.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. UBS Group increased their price target on shares of Consolidated Edison from $92.00 to $96.00 and gave the stock a “neutral” rating in a report on Friday, July 19th. Finally, Morgan Stanley lifted their price objective on shares of Consolidated Edison from $75.00 to $82.00 and gave the company an “underweight” rating in a research note on Friday, August 23rd. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $92.65.

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.