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

Aaron Wealth Advisors LLC boosted its position in Consolidated Edison, Inc. (NYSE:ED) by 5.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,814 shares of the utilities provider’s stock after acquiring an additional 358 shares during the quarter. Aaron Wealth Advisors LLC’s holdings in Consolidated Edison were worth $710,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the company. Beacon Capital Management LLC raised its holdings in Consolidated Edison by 2,307.7% during the first quarter. Beacon Capital Management LLC now owns 313 shares of the utilities provider’s stock worth $28,000 after purchasing an additional 300 shares in the last quarter. Pathway Financial Advisers LLC acquired a new stake in shares of Consolidated Edison during the first quarter worth about $33,000. TruNorth Capital Management LLC purchased a new stake in shares of Consolidated Edison in the 2nd quarter valued at about $33,000. Versant Capital Management Inc grew its stake in Consolidated Edison by 380.2% during 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 during the last quarter. Finally, Future Financial Wealth Managment LLC acquired a new position in Consolidated Edison during the first quarter worth approximately $48,000. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Consolidated Edison Price Performance

ED stock opened at $106.73 on Friday. The firm has a 50 day moving average of $102.80 and a 200-day moving average of $96.60. The company has a market cap of $36.91 billion, a price-to-earnings ratio of 20.49, a PEG ratio of 3.46 and a beta of 0.36. Consolidated Edison, Inc. has a 12-month low of $85.85 and a 12-month high of $106.77. 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 released its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.59 EPS for the quarter, topping the consensus estimate of $0.57 by $0.02. Consolidated Edison had a net margin of 12.03% and a return on equity of 8.67%. The business had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.08 billion. During the same period in the previous year, the firm earned $0.61 EPS. As a group, equities analysts expect that Consolidated Edison, Inc. will post 5.3 EPS for the current fiscal 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 given a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 3.11%. Consolidated Edison’s dividend payout ratio is currently 63.72%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ED. Barclays raised their target price on shares of Consolidated Edison from $92.00 to $98.00 and gave the stock an “underweight” rating in a research report on Monday, August 5th. Jefferies Financial Group started coverage on shares of Consolidated Edison in a report on Wednesday, October 9th. They issued a “hold” rating and a $108.00 target price for the company. Morgan Stanley boosted their price target on Consolidated Edison from $82.00 to $87.00 and gave the company an “underweight” rating in a research report on Wednesday, September 25th. Guggenheim lifted their target price on Consolidated Edison from $88.00 to $91.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Finally, Citigroup upgraded Consolidated Edison from a “neutral” rating to a “buy” rating and upped their price target for the stock from $103.00 to $116.00 in a research note on Tuesday. Four analysts have rated the stock with a sell rating, eight have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $98.27.

About Consolidated Edison

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.