Annex Advisory Services LLC Invests $201,000 in Consolidated Edison, Inc. (NYSE:ED)

Annex Advisory Services LLC purchased a new stake in Consolidated Edison, Inc. (NYSE:ED) in the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 1,818 shares of the utilities provider’s stock, valued at approximately $201,000.

Other large investors have also made changes to their positions in the company. Breakwater Capital Group raised its holdings in Consolidated Edison by 22.5% during the first quarter. Breakwater Capital Group now owns 7,936 shares of the utilities provider’s stock worth $878,000 after purchasing an additional 1,456 shares during the last quarter. Charles Schwab Trust Co purchased a new position in shares of Consolidated Edison in the first quarter valued at $476,000. Lake Street Private Wealth LLC acquired a new position in shares of Consolidated Edison during the 1st quarter worth $225,000. Amplius Wealth Advisors LLC purchased a new stake in shares of Consolidated Edison in the 1st quarter worth about $266,000. Finally, Apella Capital LLC purchased a new stake in shares of Consolidated Edison in the 1st quarter worth about $561,000. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Morgan Stanley cut their target price on shares of Consolidated Edison from $94.00 to $93.00 and set an “underweight” rating for the company in a research report on Thursday, May 22nd. Citigroup lifted their price objective on Consolidated Edison from $116.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, April 9th. Scotiabank upped their target price on Consolidated Edison from $100.00 to $101.00 and gave the company a “sector perform” rating in a research note on Monday, February 24th. UBS Group increased their target price on Consolidated Edison from $110.00 to $113.00 and gave the company a “neutral” rating in a report on Friday, March 21st. Finally, KeyCorp downgraded Consolidated Edison from a “sector weight” rating to an “underweight” rating and set a $90.00 price target for the company. in a research report on Wednesday, May 14th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $104.27.

Consolidated Edison Stock Performance

NYSE ED opened at $101.57 on Friday. The business’s 50-day moving average price is $107.33 and its 200 day moving average price is $100.39. 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, Inc. has a twelve month low of $87.28 and a twelve month high of $114.87. The company has a market capitalization of $36.59 billion, a PE ratio of 19.38, a price-to-earnings-growth ratio of 3.05 and a beta of 0.27.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings data on Thursday, May 1st. The utilities provider reported $2.25 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.05). Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. The company had revenue of $4.80 billion for the quarter, compared to analyst estimates of $4.21 billion. During the same period in the prior year, the company earned $2.15 EPS. On average, research analysts predict that Consolidated Edison, Inc. will post 5.62 earnings per share for the current year.

Consolidated Edison Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Wednesday, May 14th will be issued a dividend of $0.85 per share. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.35%. Consolidated Edison’s payout ratio is 62.85%.

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.