Stephens Inc. AR Buys 4,223 Shares of Consolidated Edison, Inc. (NYSE:ED)

Stephens Inc. AR boosted its position in shares of Consolidated Edison, Inc. (NYSE:ED) by 4.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 90,943 shares of the utilities provider’s stock after acquiring an additional 4,223 shares during the period. Stephens Inc. AR’s holdings in Consolidated Edison were worth $9,470,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in ED. Beacon Capital Management LLC increased its stake in Consolidated Edison by 2,307.7% in the first quarter. Beacon Capital Management LLC now owns 313 shares of the utilities provider’s stock valued at $28,000 after acquiring an additional 300 shares during the period. Pathway Financial Advisers LLC acquired a new stake in Consolidated Edison during the first quarter valued at approximately $33,000. TruNorth Capital Management LLC bought a new stake in shares of Consolidated Edison in the 2nd quarter valued at approximately $33,000. Versant Capital Management Inc raised its holdings in shares of Consolidated Edison by 380.2% in the 2nd quarter. Versant Capital Management Inc now owns 413 shares of the utilities provider’s stock worth $37,000 after buying an additional 327 shares in the last quarter. Finally, ESL Trust Services LLC bought a new position in shares of Consolidated Edison during the 1st quarter worth approximately $54,000. Institutional investors and hedge funds own 66.29% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on ED. Citigroup upgraded Consolidated Edison from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $103.00 to $116.00 in a research note on Tuesday, October 15th. Guggenheim increased their target price on shares of Consolidated Edison from $88.00 to $91.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. UBS Group boosted their target price on Consolidated Edison from $105.00 to $106.00 and gave the stock a “neutral” rating in a report on Friday, September 20th. Morgan Stanley raised their price target on Consolidated Edison from $82.00 to $87.00 and gave the company an “underweight” rating in a report on Wednesday, September 25th. Finally, Scotiabank boosted their price objective 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. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $98.73.

Consolidated Edison Stock Down 1.7 %

Shares of NYSE:ED opened at $100.00 on Friday. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.04 and a quick ratio of 0.97. The stock has a market cap of $34.62 billion, a price-to-earnings ratio of 19.46, a P/E/G ratio of 3.47 and a beta of 0.36. The company has a 50 day moving average of $103.54 and a 200-day moving average of $97.61. Consolidated Edison, Inc. has a one year low of $85.85 and a one year high of $107.75.

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. The firm had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.08 billion. Consolidated Edison had a net margin of 12.03% and a return on equity of 8.67%. During the same quarter in the previous year, the business earned $0.61 EPS. On average, sell-side analysts forecast that Consolidated Edison, Inc. will post 5.31 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Wednesday, November 13th will be paid a dividend of $0.83 per share. The ex-dividend date is Wednesday, November 13th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.32%. Consolidated Edison’s dividend payout ratio (DPR) is presently 64.59%.

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.