Consolidated Edison, Inc. (NYSE:ED) Shares Bought by Coston McIsaac & Partners

Coston McIsaac & Partners grew its holdings in shares of Consolidated Edison, Inc. (NYSE:ED) by 3.7% in the first quarter, according to its most recent filing with the SEC. The firm owned 58,841 shares of the utilities provider’s stock after acquiring an additional 2,115 shares during the quarter. Consolidated Edison comprises approximately 1.7% of Coston McIsaac & Partners’ holdings, making the stock its 16th largest position. Coston McIsaac & Partners’ holdings in Consolidated Edison were worth $5,343,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Advisors Capital Management LLC grew its holdings in Consolidated Edison by 3.8% in the 3rd quarter. Advisors Capital Management LLC now owns 3,312 shares of the utilities provider’s stock valued at $283,000 after buying an additional 122 shares during the last quarter. Jeppson Wealth Management LLC grew its holdings in Consolidated Edison by 1.6% in the 4th quarter. Jeppson Wealth Management LLC now owns 7,716 shares of the utilities provider’s stock valued at $702,000 after buying an additional 125 shares during the last quarter. Sandy Spring Bank grew its holdings in Consolidated Edison by 11.4% in the 4th quarter. Sandy Spring Bank now owns 1,222 shares of the utilities provider’s stock valued at $111,000 after buying an additional 125 shares during the last quarter. Syon Capital LLC grew its holdings in Consolidated Edison by 2.3% in the 4th quarter. Syon Capital LLC now owns 5,954 shares of the utilities provider’s stock valued at $542,000 after buying an additional 136 shares during the last quarter. Finally, G&S Capital LLC grew its holdings in Consolidated Edison by 1.6% in the 1st quarter. G&S Capital LLC now owns 8,747 shares of the utilities provider’s stock valued at $794,000 after buying an additional 139 shares during the last quarter. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Price Performance

Shares of Consolidated Edison stock traded down $0.26 during midday trading on Friday, hitting $89.42. 2,647,348 shares of the company were exchanged, compared to its average volume of 1,956,333. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.99 and a quick ratio of 0.92. The firm has a market cap of $30.92 billion, a P/E ratio of 17.16, a PEG ratio of 2.27 and a beta of 0.35. Consolidated Edison, Inc. has a 52 week low of $80.46 and a 52 week high of $98.85. The firm has a 50 day simple moving average of $93.56 and a 200-day simple moving average of $91.13.

Consolidated Edison (NYSE:ED) last posted its earnings results on Thursday, May 2nd. The utilities provider reported $2.15 EPS for the quarter, topping the consensus estimate of $1.89 by $0.26. Consolidated Edison had a return on equity of 8.79% and a net margin of 12.43%. The business had revenue of $4.28 billion during the quarter, compared to the consensus estimate of $4.40 billion. During the same quarter last year, the company earned $1.83 EPS. Consolidated Edison’s revenue was down 2.8% on a year-over-year basis. Research analysts forecast that Consolidated Edison, Inc. will post 5.33 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Wednesday, May 15th were given a $0.83 dividend. The ex-dividend date was Tuesday, May 14th. This represents a $3.32 annualized dividend and a yield of 3.71%. Consolidated Edison’s payout ratio is 63.72%.

Analyst Ratings Changes

A number of analysts have issued reports on ED shares. Morgan Stanley lowered their target price on Consolidated Edison from $80.00 to $76.00 and set an “underweight” rating on the stock in a report on Monday, June 24th. Wells Fargo & Company raised their target price on Consolidated Edison from $93.00 to $97.00 and gave the company an “equal weight” rating in a report on Friday, May 3rd. Scotiabank reduced their price objective on Consolidated Edison from $91.00 to $85.00 and set a “sector underperform” rating for the company in a research report on Monday, April 22nd. Mizuho raised their price objective on Consolidated Edison from $93.00 to $95.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 28th. Finally, Barclays raised their price objective on Consolidated Edison from $89.00 to $97.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 7th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $89.27.

About Consolidated Edison

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.