Wealthspire Advisors LLC Has $769,000 Stock Holdings in Consolidated Edison, Inc. (NYSE:ED)

Wealthspire Advisors LLC boosted its position in Consolidated Edison, Inc. (NYSE:ED) by 24.7% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 8,454 shares of the utilities provider’s stock after purchasing an additional 1,673 shares during the period. Wealthspire Advisors LLC’s holdings in Consolidated Edison were worth $769,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. MGO One Seven LLC grew its stake in Consolidated Edison by 2.1% in the 3rd quarter. MGO One Seven LLC now owns 5,727 shares of the utilities provider’s stock valued at $490,000 after buying an additional 119 shares during the last quarter. Advisors Capital Management LLC raised its position in Consolidated Edison by 3.8% during the third quarter. Advisors Capital Management LLC now owns 3,312 shares of the utilities provider’s stock valued at $283,000 after purchasing an additional 122 shares in the last quarter. Jeppson Wealth Management LLC lifted its position in shares of Consolidated Edison by 1.6% during the 4th quarter. Jeppson Wealth Management LLC now owns 7,716 shares of the utilities provider’s stock worth $702,000 after buying an additional 125 shares during the last quarter. Sandy Spring Bank boosted its stake in shares of Consolidated Edison by 11.4% in the 4th quarter. Sandy Spring Bank now owns 1,222 shares of the utilities provider’s stock valued at $111,000 after purchasing an additional 125 shares in the last quarter. Finally, Dorsey & Whitney Trust CO LLC grew its stake in shares of Consolidated Edison by 4.9% during the third quarter. Dorsey & Whitney Trust CO LLC now owns 2,764 shares of the utilities provider’s stock worth $236,000 after buying an additional 128 shares during the last quarter. Institutional investors own 66.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. UBS Group cut their price objective on Consolidated Edison from $99.00 to $94.00 and set a “neutral” rating on the stock in a report on Friday, February 16th. Wells Fargo & Company boosted their price target on Consolidated Edison from $93.00 to $97.00 and gave the stock an “equal weight” rating in a report on Friday, May 3rd. Royal Bank of Canada dropped their price objective on shares of Consolidated Edison from $94.00 to $93.00 and set a “sector perform” rating for the company in a report on Friday, February 16th. Barclays boosted their target price on shares of Consolidated Edison from $89.00 to $97.00 and gave the stock an “equal weight” rating in a report on Tuesday. Finally, Scotiabank decreased their price target on Consolidated Edison from $91.00 to $85.00 and set a “sector underperform” rating for the company in a research note on Monday, April 22nd. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $88.46.

Consolidated Edison Stock Down 0.1 %

ED traded down $0.12 during midday trading on Friday, hitting $98.00. The company had a trading volume of 62,407 shares, compared to its average volume of 1,880,372. The stock’s 50 day moving average price is $90.84 and its 200 day moving average price is $90.33. Consolidated Edison, Inc. has a 52 week low of $80.46 and a 52 week high of $100.08. The company has a market capitalization of $33.89 billion, a price-to-earnings ratio of 18.83, a PEG ratio of 8.99 and a beta of 0.34. The company has a quick ratio of 0.92, a current ratio of 0.99 and a debt-to-equity ratio of 1.01.

Consolidated Edison (NYSE:ED) last issued its earnings results on Thursday, May 2nd. The utilities provider reported $2.15 EPS for the quarter, beating the consensus estimate of $1.89 by $0.26. Consolidated Edison had a return on equity of 8.79% and a net margin of 12.43%. The company had revenue of $4.28 billion during the quarter, compared to the consensus estimate of $4.40 billion. During the same period last year, the business posted $1.83 EPS. The firm’s revenue for the quarter was down 2.8% compared to the same quarter last year. On average, research analysts anticipate that Consolidated Edison, Inc. will post 5.31 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Wednesday, May 15th will be issued a dividend of $0.83 per share. The ex-dividend date is Tuesday, May 14th. This represents a $3.32 annualized dividend and a yield of 3.39%. Consolidated Edison’s payout ratio is 63.72%.

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.