Consolidated Edison, Inc. (NYSE:ED) Shares Acquired by Wedmont Private Capital

Wedmont Private Capital grew its holdings in Consolidated Edison, Inc. (NYSE:ED) by 2.3% in the first quarter, Holdings Channel.com reports. The institutional investor owned 9,168 shares of the utilities provider’s stock after buying an additional 202 shares during the quarter. Wedmont Private Capital’s holdings in Consolidated Edison were worth $1,007,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of ED. UMB Bank n.a. grew its holdings in shares of Consolidated Edison by 4.6% in the first quarter. UMB Bank n.a. now owns 10,499 shares of the utilities provider’s stock valued at $1,161,000 after purchasing an additional 463 shares during the period. Sivia Capital Partners LLC purchased a new stake in shares of Consolidated Edison in the first quarter valued at about $276,000. Harrington Investments INC grew its holdings in shares of Consolidated Edison by 0.6% in the first quarter. Harrington Investments INC now owns 27,526 shares of the utilities provider’s stock valued at $3,044,000 after purchasing an additional 157 shares during the period. Sovereign Financial Group Inc. grew its holdings in shares of Consolidated Edison by 1.0% in the first quarter. Sovereign Financial Group Inc. now owns 20,587 shares of the utilities provider’s stock valued at $2,277,000 after purchasing an additional 194 shares during the period. Finally, Procyon Advisors LLC grew its holdings in shares of Consolidated Edison by 3.9% in the first quarter. Procyon Advisors LLC now owns 22,704 shares of the utilities provider’s stock valued at $2,511,000 after purchasing an additional 843 shares during the period. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Consolidated Edison Stock Performance

NYSE:ED opened at $101.57 on Monday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01. The stock has a market capitalization of $36.59 billion, a P/E ratio of 19.38, a PEG ratio of 3.05 and a beta of 0.27. The company has a 50 day moving average price of $107.33 and a 200 day moving average price of $100.42. Consolidated Edison, Inc. has a fifty-two week low of $87.28 and a fifty-two week high of $114.87.

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 the consensus estimate of $2.30 by ($0.05). Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. The business had revenue of $4.80 billion during the quarter, compared to analysts’ expectations of $4.21 billion. During the same period in the previous year, the business posted $2.15 EPS. Equities research analysts forecast that Consolidated Edison, Inc. will post 5.62 EPS for the current year.

Consolidated Edison Dividend Announcement

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

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. KeyCorp lowered shares of Consolidated Edison from a “sector weight” rating to an “underweight” rating and set a $90.00 price objective for the company. in a report on Wednesday, May 14th. Guggenheim upped their price objective on shares of Consolidated Edison from $96.00 to $103.00 and gave the company a “neutral” rating in a report on Friday, May 2nd. Barclays upped their price objective on shares of Consolidated Edison from $100.00 to $101.00 and gave the company an “underweight” rating in a report on Monday, May 5th. Wells Fargo & Company upped their price objective on shares of Consolidated Edison from $103.00 to $114.00 and gave the company an “equal weight” rating in a report on Friday, May 2nd. Finally, Morgan Stanley dropped their price target 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. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $104.27.

Consolidated Edison Company 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.