EP Wealth Advisors LLC Has $1.17 Million Holdings in Consolidated Edison, Inc. (NYSE:ED)

EP Wealth Advisors LLC lifted its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 2.3% in the 1st quarter, Holdings Channel reports. The institutional investor owned 12,914 shares of the utilities provider’s stock after purchasing an additional 293 shares during the quarter. EP Wealth Advisors LLC’s holdings in Consolidated Edison were worth $1,173,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of ED. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Consolidated Edison during the fourth quarter worth $29,000. Tidemark LLC acquired a new stake in Consolidated Edison in the fourth quarter valued at $29,000. Raleigh Capital Management Inc. acquired a new stake in Consolidated Edison in the fourth quarter valued at $29,000. CVA Family Office LLC acquired a new stake in Consolidated Edison in the fourth quarter valued at $32,000. Finally, Atlantic Edge Private Wealth Management LLC acquired a new stake in Consolidated Edison in the fourth quarter valued at $33,000. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ED. Morgan Stanley decreased their price objective on Consolidated Edison from $80.00 to $76.00 and set an “underweight” rating for the company in a report on Monday, June 24th. Argus upgraded Consolidated Edison to a “strong-buy” rating in a report on Friday, June 7th. UBS Group increased their price objective on Consolidated Edison from $92.00 to $96.00 and gave the company a “neutral” rating in a report on Friday, July 19th. Barclays downgraded Consolidated Edison from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $97.00 to $92.00 in a report on Monday, July 22nd. Finally, Scotiabank decreased their price target on Consolidated Edison from $91.00 to $85.00 and set a “sector underperform” rating for the company in a report on Monday, April 22nd. Four analysts have rated the stock with a sell rating, seven have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $89.04.

Consolidated Edison Trading Up 0.5 %

Consolidated Edison stock traded up $0.52 during trading hours on Friday, reaching $96.44. 1,438,755 shares of the company’s stock were exchanged, compared to its average volume of 1,490,286. The firm has a market capitalization of $33.35 billion, a PE ratio of 18.51, a PEG ratio of 2.44 and a beta of 0.34. The firm’s 50 day simple moving average is $92.02 and its 200 day simple moving average is $91.21. The company has a quick ratio of 0.92, a current ratio of 0.99 and a debt-to-equity ratio of 1.01. Consolidated Edison, Inc. has a twelve month low of $80.46 and a twelve month high of $98.55.

Consolidated Edison (NYSE:ED) last released its quarterly earnings data on Thursday, May 2nd. The utilities provider reported $2.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.89 by $0.26. The company had revenue of $4.28 billion for the quarter, compared to analysts’ expectations of $4.40 billion. Consolidated Edison had a net margin of 12.43% and a return on equity of 8.79%. The business’s revenue was down 2.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.83 EPS. Research analysts predict that Consolidated Edison, Inc. will post 5.32 earnings per share for the current year.

Consolidated Edison Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Wednesday, August 14th will be given a dividend of $0.83 per share. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.44%. Consolidated Edison’s dividend payout ratio (DPR) is presently 63.72%.

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.