Consolidated Edison, Inc. (NYSE:ED) Shares Purchased by Shepherd Financial Partners LLC

Shepherd Financial Partners LLC raised its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 5.6% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 13,596 shares of the utilities provider’s stock after buying an additional 722 shares during the period. Shepherd Financial Partners LLC’s holdings in Consolidated Edison were worth $1,416,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Lebenthal Global Advisors LLC acquired a new position in Consolidated Edison during the 3rd quarter valued at about $209,000. Creative Financial Designs Inc. ADV grew its stake in shares of Consolidated Edison by 3.7% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 8,071 shares of the utilities provider’s stock worth $840,000 after purchasing an additional 290 shares during the last quarter. Stephens Inc. AR grew its stake in shares of Consolidated Edison by 4.9% in the 3rd quarter. Stephens Inc. AR now owns 90,943 shares of the utilities provider’s stock worth $9,470,000 after purchasing an additional 4,223 shares during the last quarter. United Asset Strategies Inc. boosted its holdings in shares of Consolidated Edison by 28.8% during the third quarter. United Asset Strategies Inc. now owns 6,772 shares of the utilities provider’s stock worth $705,000 after purchasing an additional 1,516 shares during the period. Finally, US Bancorp DE boosted its holdings in shares of Consolidated Edison by 0.6% during the third quarter. US Bancorp DE now owns 65,413 shares of the utilities provider’s stock worth $6,812,000 after purchasing an additional 376 shares during the period. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Price Performance

Shares of Consolidated Edison stock traded down $0.16 during mid-day trading on Friday, reaching $101.52. 609,337 shares of the stock were exchanged, compared to its average volume of 1,830,507. The company has a market cap of $35.14 billion, a price-to-earnings ratio of 19.78, a price-to-earnings-growth ratio of 3.47 and a beta of 0.36. The company has a current ratio of 1.04, a quick ratio of 0.97 and a debt-to-equity ratio of 1.08. The firm has a 50-day simple moving average of $103.56 and a 200 day simple moving average of $97.53. Consolidated Edison, Inc. has a fifty-two week low of $85.85 and a fifty-two week high of $107.75.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. Consolidated Edison had a net margin of 12.03% and a return on equity of 8.67%. The firm had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.08 billion. During the same quarter in the prior year, the firm earned $0.61 EPS. On average, sell-side analysts predict that Consolidated Edison, Inc. will post 5.31 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Wednesday, November 13th will be paid a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 3.27%. The ex-dividend date is Wednesday, November 13th. Consolidated Edison’s dividend payout ratio (DPR) is presently 64.59%.

Wall Street Analysts Forecast Growth

ED has been the subject of several research reports. UBS Group raised their price target on shares of Consolidated Edison from $105.00 to $106.00 and gave the stock a “neutral” rating in a report on Friday, September 20th. Bank of America raised their price target on shares of Consolidated Edison from $97.00 to $109.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Jefferies Financial Group began coverage on shares of Consolidated Edison in a report on Wednesday, October 9th. They set a “hold” rating and a $108.00 price target for the company. Guggenheim lifted their target price on shares of Consolidated Edison from $88.00 to $91.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Finally, Wells Fargo & Company lifted their target price on shares of Consolidated Edison from $97.00 to $105.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $98.73.

Consolidated Edison 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.