Consolidated Edison, Inc. (NYSE:ED) Shares Purchased by AE Wealth Management LLC

AE Wealth Management LLC lifted its stake in Consolidated Edison, Inc. (NYSE:ED) by 23.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,412 shares of the utilities provider’s stock after purchasing an additional 2,163 shares during the quarter. AE Wealth Management LLC’s holdings in Consolidated Edison were worth $1,020,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. King Luther Capital Management Corp acquired a new stake in Consolidated Edison during the 2nd quarter worth about $234,000. Canada Pension Plan Investment Board lifted its holdings in shares of Consolidated Edison by 17.6% during the second quarter. Canada Pension Plan Investment Board now owns 700,189 shares of the utilities provider’s stock worth $62,611,000 after purchasing an additional 105,000 shares during the period. Benjamin F. Edwards & Company Inc. boosted its position in Consolidated Edison by 13.0% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 868 shares of the utilities provider’s stock valued at $78,000 after buying an additional 100 shares during the last quarter. Intech Investment Management LLC increased its holdings in Consolidated Edison by 6.9% in the 2nd quarter. Intech Investment Management LLC now owns 158,025 shares of the utilities provider’s stock worth $14,131,000 after buying an additional 10,261 shares during the period. Finally, MQS Management LLC raised its position in Consolidated Edison by 88.2% during the 2nd quarter. MQS Management LLC now owns 6,302 shares of the utilities provider’s stock worth $564,000 after buying an additional 2,953 shares during the last quarter. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Consolidated Edison Price Performance

Consolidated Edison stock opened at $102.82 on Wednesday. The stock has a market capitalization of $35.56 billion, a P/E ratio of 19.74, a P/E/G ratio of 3.50 and a beta of 0.36. The company’s fifty day moving average price is $100.58 and its 200 day moving average price is $94.88. 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 1 year low of $80.46 and a 1 year high of $105.99.

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

Consolidated Edison Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Wednesday, August 14th were issued a dividend of $0.83 per share. The ex-dividend date was Wednesday, August 14th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.23%. Consolidated Edison’s payout ratio is currently 63.72%.

Wall Street Analyst Weigh In

Several research firms have recently commented on ED. Guggenheim upped their price objective on shares of Consolidated Edison from $88.00 to $91.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Wells Fargo & Company upped their price target on shares of Consolidated Edison from $97.00 to $105.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. Bank of America lifted their price objective on Consolidated Edison from $97.00 to $109.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Mizuho raised their target price on Consolidated Edison from $93.00 to $95.00 and gave the stock a “neutral” rating in a report on Tuesday, May 28th. Finally, UBS Group lifted their price target on Consolidated Edison from $105.00 to $106.00 and gave the company a “neutral” rating in a research report on Friday, September 20th. Four 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 MarketBeat, the company has an average rating of “Hold” and a consensus target price of $93.42.

Consolidated Edison 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.