2,050 Shares in Consolidated Edison Inc (NYSE:ED) Acquired by Wells Trecaso Financial Group LLC

Wells Trecaso Financial Group LLC bought a new stake in shares of Consolidated Edison Inc (NYSE:ED) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 2,050 shares of the utilities provider’s stock, valued at approximately $227,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of ED. Jacobi Capital Management LLC increased its stake in Consolidated Edison by 4.2% in the 4th quarter. Jacobi Capital Management LLC now owns 2,569 shares of the utilities provider’s stock worth $229,000 after purchasing an additional 104 shares during the period. Glen Eagle Advisors LLC grew its holdings in shares of Consolidated Edison by 6.2% in the fourth quarter. Glen Eagle Advisors LLC now owns 1,902 shares of the utilities provider’s stock worth $170,000 after purchasing an additional 111 shares during the last quarter. Richwood Investment Advisors LLC grew its holdings in shares of Consolidated Edison by 2.3% in the fourth quarter. Richwood Investment Advisors LLC now owns 5,194 shares of the utilities provider’s stock worth $463,000 after purchasing an additional 115 shares during the last quarter. Integrated Advisors Network LLC increased its stake in shares of Consolidated Edison by 1.6% in the first quarter. Integrated Advisors Network LLC now owns 7,842 shares of the utilities provider’s stock worth $867,000 after buying an additional 121 shares during the period. Finally, Penobscot Investment Management Company Inc. raised its holdings in Consolidated Edison by 5.7% during the 4th quarter. Penobscot Investment Management Company Inc. now owns 2,300 shares of the utilities provider’s stock valued at $205,000 after buying an additional 125 shares during the last quarter. Institutional investors own 66.29% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on ED. KeyCorp lowered shares of Consolidated Edison from a “sector weight” rating to an “underweight” rating and set a $90.00 price target on the stock. in a report on Wednesday, May 14th. Scotiabank increased their target price on shares of Consolidated Edison from $100.00 to $101.00 and gave the stock a “sector perform” rating in a report on Monday, February 24th. Guggenheim boosted their price target on Consolidated Edison from $96.00 to $103.00 and gave the company a “neutral” rating in a report on Friday, May 2nd. Wells Fargo & Company upped their price target on Consolidated Edison from $103.00 to $114.00 and gave the company an “equal weight” rating in a research report on Friday, May 2nd. Finally, Morgan Stanley cut their price objective on Consolidated Edison from $94.00 to $93.00 and set an “underweight” rating on the stock in a research report on Thursday, May 22nd. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $104.27.

Consolidated Edison Stock Down 0.3%

ED stock opened at $101.34 on Wednesday. Consolidated Edison Inc has a fifty-two week low of $87.28 and a fifty-two week high of $114.87. The company has a market capitalization of $36.51 billion, a price-to-earnings ratio of 18.73, a price-to-earnings-growth ratio of 3.25 and a beta of 0.27. The business’s 50 day moving average price is $106.56 and its two-hundred day moving average price is $100.51. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.19 and a current ratio of 1.28.

Consolidated Edison (NYSE:ED) last released its quarterly earnings results on Thursday, May 1st. The utilities provider reported $2.25 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.05). The firm had revenue of $4.80 billion for the quarter, compared to the consensus estimate of $4.21 billion. Consolidated Edison had a net margin of 11.98% and a return on equity of 8.61%. During the same quarter in the prior year, the firm earned $2.15 earnings per share. As a group, analysts forecast that Consolidated Edison Inc will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Wednesday, May 14th were paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date of this dividend was Wednesday, May 14th. Consolidated Edison’s dividend payout ratio is 62.85%.

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.