RIA Advisory Group LLC Invests $551,000 in Consolidated Edison, Inc. (NYSE:ED)

RIA Advisory Group LLC acquired a new stake in Consolidated Edison, Inc. (NYSE:ED) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 5,291 shares of the utilities provider’s stock, valued at approximately $551,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Natixis Advisors LLC boosted its stake in shares of Consolidated Edison by 7.1% in the third quarter. Natixis Advisors LLC now owns 171,322 shares of the utilities provider’s stock valued at $17,840,000 after buying an additional 11,419 shares during the period. Mizuho Securities USA LLC raised its holdings in Consolidated Edison by 387.4% in the 3rd quarter. Mizuho Securities USA LLC now owns 129,952 shares of the utilities provider’s stock valued at $13,532,000 after acquiring an additional 103,288 shares in the last quarter. Archer Investment Corp lifted its position in shares of Consolidated Edison by 49.5% during the 3rd quarter. Archer Investment Corp now owns 8,250 shares of the utilities provider’s stock valued at $859,000 after acquiring an additional 2,731 shares during the period. Empowered Funds LLC grew its holdings in shares of Consolidated Edison by 7.6% during the 3rd quarter. Empowered Funds LLC now owns 5,785 shares of the utilities provider’s stock worth $602,000 after purchasing an additional 409 shares in the last quarter. Finally, Empirical Finance LLC increased its position in shares of Consolidated Edison by 2.1% in the third quarter. Empirical Finance LLC now owns 11,963 shares of the utilities provider’s stock worth $1,246,000 after purchasing an additional 249 shares during the period. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Stock Performance

Shares of ED stock opened at $96.44 on Friday. Consolidated Edison, Inc. has a 12 month low of $85.85 and a 12 month high of $107.75. The firm has a market capitalization of $33.41 billion, a PE ratio of 18.16, a price-to-earnings-growth ratio of 3.21 and a beta of 0.36. The firm has a fifty day simple moving average of $102.68 and a two-hundred day simple moving average of $97.99. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.07.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings data on Thursday, November 7th. The utilities provider reported $1.68 earnings per share for the quarter, beating the consensus estimate of $1.56 by $0.12. Consolidated Edison had a return on equity of 8.70% and a net margin of 12.27%. The business had revenue of $4.09 billion for the quarter, compared to analysts’ expectations of $4.02 billion. Analysts forecast that Consolidated Edison, Inc. will post 5.33 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Wednesday, November 13th will be paid a $0.83 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $3.32 annualized dividend and a yield of 3.44%. Consolidated Edison’s payout ratio is 62.52%.

Analyst Upgrades and Downgrades

ED has been the subject of a number of recent analyst reports. Jefferies Financial Group initiated coverage on shares of Consolidated Edison in a report on Wednesday, October 9th. They set a “hold” rating and a $108.00 price target for the company. Barclays decreased their price target on Consolidated Edison from $104.00 to $99.00 and set an “underweight” rating on the stock in a research note on Friday, November 8th. UBS Group raised their price objective on Consolidated Edison from $105.00 to $106.00 and gave the company a “neutral” rating in a research note on Friday, September 20th. Bank of America upped their price objective on Consolidated Edison from $97.00 to $109.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Finally, Guggenheim lifted their price target on shares of Consolidated Edison from $88.00 to $91.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Four research analysts have rated the stock with a sell rating, eight have given a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Consolidated Edison presently has a consensus rating of “Hold” and a consensus target price of $98.35.

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.