Wealthfront Advisers LLC Has $17.09 Million Holdings in Consolidated Edison Inc $ED

Wealthfront Advisers LLC grew its holdings in Consolidated Edison Inc (NYSE:ED) by 5.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 150,994 shares of the utilities provider’s stock after acquiring an additional 8,208 shares during the quarter. Wealthfront Advisers LLC’s holdings in Consolidated Edison were worth $17,090,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of ED. Vanguard Group Inc. boosted its holdings in Consolidated Edison by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 45,636,041 shares of the utilities provider’s stock valued at $4,532,572,000 after purchasing an additional 461,108 shares during the period. State Street Corp raised its position in shares of Consolidated Edison by 3.6% during the fourth quarter. State Street Corp now owns 24,905,440 shares of the utilities provider’s stock valued at $2,473,608,000 after buying an additional 854,868 shares during the last quarter. Lazard Asset Management LLC lifted its stake in shares of Consolidated Edison by 3.4% in the fourth quarter. Lazard Asset Management LLC now owns 6,165,594 shares of the utilities provider’s stock valued at $612,367,000 after buying an additional 205,041 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Consolidated Edison by 11.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,200,840 shares of the utilities provider’s stock valued at $516,549,000 after buying an additional 514,178 shares during the period. Finally, Norges Bank acquired a new stake in Consolidated Edison during the fourth quarter worth about $489,806,000. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Stock Performance

NYSE ED opened at $112.21 on Friday. The stock has a market cap of $41.35 billion, a P/E ratio of 18.89, a PEG ratio of 2.80 and a beta of 0.27. The company’s 50-day simple moving average is $108.37 and its 200 day simple moving average is $108.56. Consolidated Edison Inc has a twelve month low of $94.96 and a twelve month high of $116.23. The company has a quick ratio of 1.09, a current ratio of 1.19 and a debt-to-equity ratio of 1.00.

Consolidated Edison Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Wednesday, August 19th will be paid a $0.8875 dividend. This represents a $3.55 annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Wednesday, August 19th. Consolidated Edison’s dividend payout ratio is currently 59.76%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on ED shares. Weiss Ratings upgraded Consolidated Edison from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, April 24th. Argus set a $112.00 price objective on Consolidated Edison in a research report on Tuesday, June 23rd. Morgan Stanley reissued an “underweight” rating on shares of Consolidated Edison in a report on Wednesday, June 24th. Evercore set a $116.00 price objective on Consolidated Edison in a research report on Monday, May 11th. Finally, KeyCorp upped their target price on Consolidated Edison from $96.00 to $97.00 and gave the company an “underweight” rating in a research note on Tuesday, April 21st. Two research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and six have assigned a Sell rating to the company’s stock. According to MarketBeat, Consolidated Edison has a consensus rating of “Reduce” and an average target price of $108.07.

Consolidated Edison Company Profile

Consolidated Edison, Inc, commonly known as Con Edison, is an investor-owned energy company that primarily delivers electricity, natural gas and steam to customers in the New York metropolitan area. Its regulated utility operations include the distribution and transmission of electric power, the distribution of natural gas, and the operation of one of the largest district steam systems in the United States, serving commercial, institutional and residential customers in New York City and nearby counties.

The company operates through regulated utility subsidiaries that serve urban and suburban service territories, together with non-utility businesses that develop, own and manage energy infrastructure and clean energy projects.