Kingswood Wealth Advisors LLC Buys New Shares in Consolidated Edison, Inc. (NYSE:ED)

by · The Markets Daily

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Kingswood Wealth Advisors LLC purchased a new position in Consolidated Edison, Inc. (NYSE:ED – Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 9,663 shares of the utilities provider’s stock, valued at approximately $826,000.

Several other large investors have also recently modified their holdings of the stock. Vanguard Personalized Indexing Management LLC raised its stake in shares of Consolidated Edison by 21.2% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 28,457 shares of the utilities provider’s stock valued at $2,573,000 after acquiring an additional 4,983 shares during the last quarter. First County Bank CT grew its position in shares of Consolidated Edison by 36.6% in the 2nd quarter. First County Bank CT now owns 6,678 shares of the utilities provider’s stock worth $604,000 after buying an additional 1,788 shares during the last quarter. Penserra Capital Management LLC grew its position in shares of Consolidated Edison by 11,130.0% in the 2nd quarter. Penserra Capital Management LLC now owns 2,246 shares of the utilities provider’s stock worth $202,000 after buying an additional 2,226 shares during the last quarter. Fiduciary Alliance LLC purchased a new position in shares of Consolidated Edison during the second quarter valued at approximately $43,000. Finally, United Asset Strategies Inc. raised its holdings in shares of Consolidated Edison by 11.6% during the second quarter. United Asset Strategies Inc. now owns 5,760 shares of the utilities provider’s stock valued at $521,000 after acquiring an additional 601 shares in the last quarter. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Consolidated Edison Stock Up 0.4 %

ED opened at $90.97 on Tuesday. The stock has a market capitalization of $31.40 billion, a price-to-earnings ratio of 13.48, a PEG ratio of 9.08 and a beta of 0.37. The firm has a 50 day moving average price of $90.25 and a 200-day moving average price of $90.31. Consolidated Edison, Inc. has a twelve month low of $80.46 and a twelve month high of $100.92. The company has a quick ratio of 0.91, a current ratio of 0.98 and a debt-to-equity ratio of 0.98.

Consolidated Edison (NYSE:ED – Get Free Report) last posted its earnings results on Thursday, November 2nd. The utilities provider reported $1.62 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.04. The business had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $3.82 billion. Consolidated Edison had a net margin of 15.57% and a return on equity of 8.16%. Equities research analysts forecast that Consolidated Edison, Inc. will post 5.01 earnings per share for the current year.

Consolidated Edison Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Wednesday, November 15th were paid a $0.81 dividend. The ex-dividend date of this dividend was Tuesday, November 14th. This represents a $3.24 dividend on an annualized basis and a dividend yield of 3.56%. Consolidated Edison’s dividend payout ratio (DPR) is presently 48.00%.

Analyst Ratings Changes

A number of research analysts have issued reports on ED shares. KeyCorp reduced their price objective on shares of Consolidated Edison from $77.00 to $73.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 18th. Barclays reduced their price target on shares of Consolidated Edison from $88.00 to $85.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 24th. StockNews.com began coverage on Consolidated Edison in a research report on Thursday, October 5th. They set a “hold” rating on the stock. Mizuho decreased their target price on Consolidated Edison from $95.00 to $88.00 and set a “neutral” rating for the company in a research report on Tuesday, September 5th. Finally, Argus lowered their target price on Consolidated Edison from $104.00 to $93.00 in a research note on Wednesday, October 4th. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Consolidated Edison presently has a consensus rating of “Hold” and a consensus price target of $88.08.

Read Our Latest Analysis on ED

Consolidated Edison Company Profile

(Free Report)

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 3.6 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.

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