AE Wealth Management LLC lifted its holdings in shares of Consolidated Edison, Inc. (NYSE:ED) by 96.2% during the 1st quarter, Holdings Channel reports. The firm owned 31,412 shares of the utilities provider’s stock after buying an additional 15,401 shares during the period. AE Wealth Management LLC’s holdings in Consolidated Edison were worth $2,450,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Duncker Streett & Co. Inc. acquired a new stake in shares of Consolidated Edison during the fourth quarter worth about $27,000. Pacitti Group Inc. purchased a new stake in shares of Consolidated Edison during the fourth quarter worth approximately $27,000. Golden State Wealth Management LLC purchased a new stake in shares of Consolidated Edison during the first quarter worth approximately $26,000. Kayne Anderson Rudnick Investment Management LLC purchased a new stake in shares of Consolidated Edison during the fourth quarter worth approximately $32,000. Finally, Gradient Investments LLC increased its stake in shares of Consolidated Edison by 269.0% during the first quarter. Gradient Investments LLC now owns 369 shares of the utilities provider’s stock worth $29,000 after buying an additional 269 shares during the period. 60.44% of the stock is currently owned by institutional investors and hedge funds.

Shares of ED opened at $70.36 on Friday. The company has a current ratio of 0.80, a quick ratio of 0.74 and a debt-to-equity ratio of 1.10. The firm has a market cap of $24.78 billion, a PE ratio of 18.13, a price-to-earnings-growth ratio of 8.73 and a beta of 0.23. The company’s 50 day simple moving average is $80.25 and its 200-day simple moving average is $86.58. Consolidated Edison, Inc. has a 12-month low of $62.03 and a 12-month high of $95.10.

Consolidated Edison (NYSE:ED) last announced its earnings results on Thursday, May 7th. The utilities provider reported $1.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.08). The business had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.60 billion. Consolidated Edison had a return on equity of 7.92% and a net margin of 10.53%. During the same quarter last year, the business posted $1.39 earnings per share. As a group, equities research analysts forecast that Consolidated Edison, Inc. will post 4.25 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Wednesday, May 13th will be given a dividend of $0.765 per share. The ex-dividend date is Tuesday, May 12th. This represents a $3.06 dividend on an annualized basis and a dividend yield of 4.35%. Consolidated Edison’s dividend payout ratio (DPR) is presently 70.02%.

A number of analysts recently weighed in on the stock. Bank of America restated a “buy” rating and set a $85.00 target price (down from $91.00) on shares of Consolidated Edison in a research note on Friday, May 8th. Royal Bank of Canada restated a “hold” rating and set a $85.00 target price on shares of Consolidated Edison in a research note on Thursday, April 30th. Mizuho cut their target price on shares of Consolidated Edison from $83.50 to $73.50 and set a “neutral” rating on the stock in a research note on Tuesday, May 12th. UBS Group dropped their price target on shares of Consolidated Edison from $96.00 to $88.00 and set a “neutral” rating on the stock in a research note on Monday, March 16th. Finally, Credit Suisse Group reiterated a “sell” rating and issued a $76.00 price target on shares of Consolidated Edison in a research note on Friday, May 8th. Four research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $79.60.

Consolidated Edison Company Profile

Consolidated Edison, Inc, through its subsidiaries, engages in regulated electric, gas, and steam delivery businesses in the United States. The company offers electric services to approximately 3.5 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 1,622 customers in parts of Manhattan.

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Institutional Ownership by Quarter for Consolidated Edison (NYSE:ED)

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