Curat Global LLC Makes New $55,000 Investment in Consolidated Edison, Inc. (NYSE:ED)

Curat Global LLC bought a new position in Consolidated Edison, Inc. (NYSE:ED) in the first quarter, according to its most recent disclosure with the SEC. The firm bought 500 shares of the utilities provider’s stock, valued at approximately $55,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vest Financial LLC increased its stake in shares of Consolidated Edison by 14.1% in the 1st quarter. Vest Financial LLC now owns 605,119 shares of the utilities provider’s stock worth $66,920,000 after acquiring an additional 74,649 shares during the last quarter. Annex Advisory Services LLC purchased a new position in shares of Consolidated Edison during the 1st quarter worth $201,000. Breakwater Capital Group grew its holdings in shares of Consolidated Edison by 22.5% during the 1st quarter. Breakwater Capital Group now owns 7,936 shares of the utilities provider’s stock worth $878,000 after purchasing an additional 1,456 shares during the period. Charles Schwab Trust Co purchased a new position in shares of Consolidated Edison during the 1st quarter worth $476,000. Finally, Lake Street Private Wealth LLC purchased a new position in shares of Consolidated Edison during the 1st quarter worth $225,000. 66.29% of the stock is owned by institutional investors and hedge funds.

Consolidated Edison Stock Performance

Shares of Consolidated Edison stock opened at $101.57 on Friday. The business has a 50-day moving average of $107.33 and a 200 day moving average of $100.39. Consolidated Edison, Inc. has a 12 month low of $87.28 and a 12 month high of $114.87. The stock has a market capitalization of $36.59 billion, a price-to-earnings ratio of 19.38, a price-to-earnings-growth ratio of 3.05 and a beta of 0.27. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93.

Consolidated Edison (NYSE:ED) last announced its earnings results on Thursday, May 1st. The utilities provider reported $2.25 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.05). The firm had revenue of $4.80 billion for the quarter, compared to analysts’ expectations of $4.21 billion. Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. During the same quarter last year, the business earned $2.15 earnings per share. As a group, sell-side analysts forecast that Consolidated Edison, Inc. will post 5.62 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Wednesday, May 14th will be given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date is Wednesday, May 14th. Consolidated Edison’s dividend payout ratio is currently 62.85%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ED. KeyCorp cut Consolidated Edison from a “sector weight” rating to an “underweight” rating and set a $90.00 price target for the company. in a report on Wednesday, May 14th. Wells Fargo & Company increased their price target on Consolidated Edison from $103.00 to $114.00 and gave the stock an “equal weight” rating in a report on Friday, May 2nd. UBS Group increased their price target on Consolidated Edison from $110.00 to $113.00 and gave the stock a “neutral” rating in a report on Friday, March 21st. Morgan Stanley lowered their price target on Consolidated Edison from $94.00 to $93.00 and set an “underweight” rating for the company in a report on Thursday, May 22nd. Finally, Scotiabank increased their price target on Consolidated Edison from $100.00 to $101.00 and gave the stock a “sector perform” rating in a report on Monday, February 24th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Consolidated Edison has a consensus rating of “Hold” and a consensus target price of $104.27.

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.