Consolidated Edison, Inc. (NYSE:ED) Shares Bought by Heritage Wealth Management LLC

Heritage Wealth Management LLC raised its position in Consolidated Edison, Inc. (NYSE:ED) by 388.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 415 shares of the utilities provider’s stock after purchasing an additional 330 shares during the quarter. Heritage Wealth Management LLC’s holdings in Consolidated Edison were worth $30,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Rockland Trust Co. boosted its holdings in Consolidated Edison by 7.9% in the 3rd quarter. Rockland Trust Co. now owns 83,574 shares of the utilities provider’s stock valued at $6,067,000 after purchasing an additional 6,088 shares during the last quarter. M&G Investment Management Ltd. purchased a new stake in shares of Consolidated Edison in the 2nd quarter valued at approximately $3,340,000. CAPROCK Group Inc. raised its stake in shares of Consolidated Edison by 8.3% in the 2nd quarter. CAPROCK Group Inc. now owns 4,526 shares of the utilities provider’s stock valued at $325,000 after acquiring an additional 346 shares during the period. Miracle Mile Advisors LLC raised its stake in shares of Consolidated Edison by 203.4% in the 3rd quarter. Miracle Mile Advisors LLC now owns 60,799 shares of the utilities provider’s stock valued at $4,413,000 after acquiring an additional 40,757 shares during the period. Finally, New York State Common Retirement Fund raised its stake in shares of Consolidated Edison by 3.6% in the 3rd quarter. New York State Common Retirement Fund now owns 346,400 shares of the utilities provider’s stock valued at $25,145,000 after acquiring an additional 11,991 shares during the period. Institutional investors own 61.61% of the company’s stock.

ED has been the topic of a number of research analyst reports. KeyCorp boosted their price target on shares of Consolidated Edison from $65.00 to $71.00 and gave the company an “underweight” rating in a research note on Thursday. Mizuho reduced their price target on shares of Consolidated Edison from $78.00 to $75.00 and set a “neutral” rating on the stock in a research note on Thursday, October 7th. Citigroup boosted their price target on shares of Consolidated Edison from $77.00 to $84.00 and gave the company a “neutral” rating in a research note on Wednesday, December 8th. Bank of America downgraded shares of Consolidated Edison from a “neutral” rating to an “underperform” rating and reduced their price target for the company from $74.00 to $68.00 in a research note on Monday, October 18th. Finally, TheStreet raised shares of Consolidated Edison from a “c+” rating to a “b-” rating in a research note on Wednesday, October 20th. Six analysts have rated the stock with a sell rating and three have given a hold rating to the company. Based on data from MarketBeat, Consolidated Edison has a consensus rating of “Sell” and an average price target of $76.00.

Shares of Consolidated Edison stock opened at $83.52 on Friday. The stock has a market cap of $29.51 billion, a price-to-earnings ratio of 24.93, a PEG ratio of 9.34 and a beta of 0.22. The company has a fifty day simple moving average of $81.66 and a 200-day simple moving average of $77.14. The company has a current ratio of 0.97, a quick ratio of 0.89 and a debt-to-equity ratio of 1.07. Consolidated Edison, Inc. has a 12-month low of $65.56 and a 12-month high of $86.25.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Thursday, November 4th. The utilities provider reported $1.41 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.45 by ($0.04). The business had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.46 billion. Consolidated Edison had a return on equity of 7.24% and a net margin of 8.81%. During the same quarter in the prior year, the company earned $1.48 EPS. On average, analysts forecast that Consolidated Edison, Inc. will post 4.22 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 15th. Investors of record on Wednesday, November 17th were paid a dividend of $0.775 per share. This represents a $3.10 dividend on an annualized basis and a yield of 3.71%. The ex-dividend date of this dividend was Tuesday, November 16th. Consolidated Edison’s dividend payout ratio is currently 92.54%.

In related news, VP Yukari Saegusa sold 1,451 shares of the stock in a transaction on Friday, December 3rd. The shares were sold at an average price of $80.45, for a total transaction of $116,732.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders have purchased 138 shares of company stock valued at $10,413. 0.17% of the stock is owned by company insiders.

Consolidated Edison Profile

Consolidated Edison, Inc operates as holding company, which through its subsidiaries engages in the business of regulated electric, gas, and steam delivery. It operates through the following segments: Consolidated Edison Company of New York, Inc (CECONY), Orange and Rockland Utilities, Inc (O&R), Con Edison Clean Energy Businesses, Inc and Con Edison Transmission, Inc.

See Also: Equal Weight Rating

Institutional Ownership by Quarter for Consolidated Edison (NYSE:ED)

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