Sequoia Financial Advisors LLC grew its stake in shares of Consolidated Edison Inc (NYSE:ED – Free Report) by 26.2% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 36,498 shares of the utilities provider’s stock after purchasing an additional 7,582 shares during the period. Sequoia Financial Advisors LLC’s holdings in Consolidated Edison were worth $4,131,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Basepoint Wealth LLC purchased a new position in shares of Consolidated Edison during the fourth quarter valued at approximately $26,000. JPL Wealth Management LLC purchased a new stake in Consolidated Edison in the 3rd quarter valued at $26,000. Aventura Private Wealth LLC bought a new position in Consolidated Edison during the 4th quarter valued at $27,000. Westfuller Advisors LLC bought a new position in Consolidated Edison during the 4th quarter valued at $27,000. Finally, Dorato Capital Management bought a new position in Consolidated Edison during the 4th quarter valued at $28,000. 66.29% of the stock is owned by hedge funds and other institutional investors.
Consolidated Edison Stock Up 0.6%
Shares of NYSE:ED opened at $111.83 on Tuesday. The company has a market capitalization of $41.21 billion, a PE ratio of 18.83, a price-to-earnings-growth ratio of 2.82 and a beta of 0.27. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.19 and a quick ratio of 1.09. The business has a fifty day moving average price of $108.13 and a two-hundred day moving average price of $108.30. Consolidated Edison Inc has a 1 year low of $94.96 and a 1 year high of $116.23.
Consolidated Edison Dividend Announcement
Wall Street Analysts Forecast Growth
Several analysts have recently issued reports on the stock. Evercore set a $116.00 target price on shares of Consolidated Edison in a research note on Monday, May 11th. Weiss Ratings raised shares of Consolidated Edison from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, April 24th. Barclays cut their price target on shares of Consolidated Edison from $110.00 to $107.00 and set an “underweight” rating on the stock in a report on Monday, May 11th. Morgan Stanley reaffirmed an “underweight” rating on shares of Consolidated Edison in a research report on Wednesday, June 24th. Finally, Argus set a $112.00 price objective on shares of Consolidated Edison in a research note on Tuesday, June 23rd. Two equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and six have issued a Sell rating to the stock. According to MarketBeat, Consolidated Edison currently has a consensus rating of “Reduce” and a consensus price target of $108.07.
Get Our Latest Stock Report on Consolidated Edison
About Consolidated Edison
Consolidated Edison, Inc, commonly known as Con Edison, is an investor-owned energy company that primarily delivers electricity, natural gas and steam to customers in the New York metropolitan area. Its regulated utility operations include the distribution and transmission of electric power, the distribution of natural gas, and the operation of one of the largest district steam systems in the United States, serving commercial, institutional and residential customers in New York City and nearby counties.
The company operates through regulated utility subsidiaries that serve urban and suburban service territories, together with non-utility businesses that develop, own and manage energy infrastructure and clean energy projects.
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