Consolidated Edison, Inc. (NYSE:ED) Shares Purchased by Aaron Wealth Advisors LLC

Aaron Wealth Advisors LLC raised its position in Consolidated Edison, Inc. (NYSE:ED) by 5.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,814 shares of the utilities provider’s stock after purchasing an additional 358 shares during the period. Aaron Wealth Advisors LLC’s holdings in Consolidated Edison were worth $710,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Sei Investments Co. increased its holdings in shares of Consolidated Edison by 57.4% during the 1st quarter. Sei Investments Co. now owns 244,404 shares of the utilities provider’s stock worth $22,193,000 after buying an additional 89,080 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in shares of Consolidated Edison by 153.9% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 245,802 shares of the utilities provider’s stock worth $22,321,000 after purchasing an additional 148,988 shares in the last quarter. Mizuho Markets Americas LLC boosted its stake in shares of Consolidated Edison by 121.1% in the first quarter. Mizuho Markets Americas LLC now owns 113,675 shares of the utilities provider’s stock valued at $10,323,000 after purchasing an additional 62,260 shares during the period. AMF Tjanstepension AB acquired a new stake in Consolidated Edison during the 1st quarter valued at $13,193,000. Finally, Plato Investment Management Ltd lifted its holdings in Consolidated Edison by 17,683.9% in the 1st quarter. Plato Investment Management Ltd now owns 9,959 shares of the utilities provider’s stock worth $904,000 after buying an additional 9,903 shares in the last quarter. 66.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ED has been the topic of a number of analyst reports. Jefferies Financial Group began coverage on Consolidated Edison in a research report on Wednesday, October 9th. They set a “hold” rating and a $108.00 target price on the stock. Scotiabank lifted their price objective on Consolidated Edison from $85.00 to $90.00 and gave the stock a “sector underperform” rating in a report on Tuesday, August 20th. Morgan Stanley increased their target price on Consolidated Edison from $82.00 to $87.00 and gave the company an “underweight” rating in a research note on Wednesday, September 25th. UBS Group lifted their price target on shares of Consolidated Edison from $105.00 to $106.00 and gave the stock a “neutral” rating in a research note on Friday, September 20th. Finally, Wells Fargo & Company increased their price objective on shares of Consolidated Edison from $97.00 to $105.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. Four analysts have rated the stock with a sell rating, eight have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $98.27.

Consolidated Edison Price Performance

NYSE ED opened at $106.73 on Friday. The company has a 50-day moving average price of $102.80 and a two-hundred day moving average price of $96.60. Consolidated Edison, Inc. has a 52 week low of $85.85 and a 52 week high of $106.77. The stock has a market cap of $36.91 billion, a price-to-earnings ratio of 20.49, a price-to-earnings-growth ratio of 3.46 and a beta of 0.36. The company has a current ratio of 1.04, a quick ratio of 0.97 and a debt-to-equity ratio of 1.08.

Consolidated Edison (NYSE:ED) last posted its 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 firm had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $3.08 billion. During the same period last year, the firm earned $0.61 EPS. Analysts forecast that Consolidated Edison, Inc. will post 5.3 EPS for the current year.

Consolidated Edison Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Wednesday, November 13th will be paid a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.11%. Consolidated Edison’s dividend payout ratio is currently 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.