Avidian Wealth Enterprises LLC Grows Stock Holdings in Consolidated Edison, Inc. (NYSE:ED)

Avidian Wealth Enterprises LLC increased its holdings in shares of Consolidated Edison, Inc. (NYSE:ED) by 1.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,225 shares of the utilities provider’s stock after purchasing an additional 147 shares during the period. Avidian Wealth Enterprises LLC’s holdings in Consolidated Edison were worth $1,065,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Beacon Capital Management LLC lifted its stake in shares of Consolidated Edison by 2,307.7% in the 1st quarter. Beacon Capital Management LLC now owns 313 shares of the utilities provider’s stock valued at $28,000 after purchasing an additional 300 shares during the period. Pathway Financial Advisers LLC purchased a new position in Consolidated Edison in the first quarter valued at $33,000. TruNorth Capital Management LLC acquired a new position in shares of Consolidated Edison in the second quarter worth about $33,000. Versant Capital Management Inc boosted its stake in shares of 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 acquiring an additional 327 shares in the last quarter. Finally, ESL Trust Services LLC acquired a new stake in shares of Consolidated Edison during the 1st quarter valued at about $54,000. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Consolidated Edison Stock Performance

Shares of Consolidated Edison stock opened at $98.96 on Thursday. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.97 and a current ratio of 1.04. The business’s 50 day moving average price is $103.48 and its 200 day moving average price is $97.85. The company has a market cap of $34.26 billion, a price-to-earnings ratio of 19.25, a PEG ratio of 3.37 and a beta of 0.36. Consolidated Edison, Inc. has a one year low of $85.85 and a one year high of $107.75.

Consolidated Edison Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Wednesday, November 13th will be given a dividend of $0.83 per share. The ex-dividend date is Wednesday, November 13th. This represents a $3.32 annualized dividend and a dividend yield of 3.35%. Consolidated Edison’s payout ratio is 64.59%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on ED shares. Morgan Stanley increased their price target on Consolidated Edison from $82.00 to $87.00 and gave the stock an “underweight” rating in a research report on Wednesday, September 25th. Wells Fargo & Company increased their target price on Consolidated Edison from $97.00 to $105.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. Barclays boosted their price target on shares of Consolidated Edison from $98.00 to $104.00 and gave the stock an “underweight” rating in a report on Monday, October 21st. Citigroup raised shares of Consolidated Edison from a “neutral” rating to a “buy” rating and increased their price objective for the company from $103.00 to $116.00 in a report on Tuesday, October 15th. Finally, UBS Group boosted their target price on shares of Consolidated Edison from $105.00 to $106.00 and gave the stock a “neutral” rating in a research note on Friday, September 20th. Four research analysts have rated the stock with a sell rating, eight have assigned 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.com, Consolidated Edison has a consensus rating of “Hold” and a consensus target price of $98.73.

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.