Revolve Wealth Partners LLC Raises Holdings in Consolidated Edison, Inc. (NYSE:ED)

Revolve Wealth Partners LLC boosted its position in Consolidated Edison, Inc. (NYSE:ED) by 6.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,291 shares of the utilities provider’s stock after acquiring an additional 199 shares during the quarter. Revolve Wealth Partners LLC’s holdings in Consolidated Edison were worth $299,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the company. LPL Financial LLC increased its position in shares of Consolidated Edison by 4.9% in the third quarter. LPL Financial LLC now owns 294,020 shares of the utilities provider’s stock worth $25,147,000 after acquiring an additional 13,633 shares in the last quarter. Mariner LLC increased its holdings in Consolidated Edison by 24.9% in the 3rd quarter. Mariner LLC now owns 91,702 shares of the utilities provider’s stock valued at $7,844,000 after purchasing an additional 18,270 shares in the last quarter. Stifel Financial Corp raised its position in Consolidated Edison by 0.7% in the third quarter. Stifel Financial Corp now owns 109,265 shares of the utilities provider’s stock valued at $9,345,000 after purchasing an additional 768 shares during the period. Natixis Advisors L.P. lifted its stake in shares of Consolidated Edison by 8.9% during the third quarter. Natixis Advisors L.P. now owns 104,956 shares of the utilities provider’s stock worth $8,977,000 after purchasing an additional 8,568 shares in the last quarter. Finally, Epoch Investment Partners Inc. lifted its stake in shares of Consolidated Edison by 4.8% during the third quarter. Epoch Investment Partners Inc. now owns 6,589 shares of the utilities provider’s stock worth $564,000 after purchasing an additional 302 shares in the last quarter. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Consolidated Edison Stock Performance

Shares of ED stock opened at $89.67 on Thursday. The stock has a market capitalization of $31.01 billion, a price-to-earnings ratio of 17.21, a PEG ratio of 2.27 and a beta of 0.35. Consolidated Edison, Inc. has a one year low of $80.46 and a one year high of $98.85. The company’s 50-day simple moving average is $93.64 and its 200-day simple moving average is $91.17. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.92 and a current ratio of 0.99.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings data on Thursday, May 2nd. The utilities provider reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.26. The firm had revenue of $4.28 billion for the quarter, compared to analysts’ expectations of $4.40 billion. Consolidated Edison had a return on equity of 8.79% and a net margin of 12.43%. Consolidated Edison’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.83 earnings per share. Equities analysts anticipate that Consolidated Edison, Inc. will post 5.33 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Wednesday, May 15th were issued a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 3.70%. The ex-dividend date was Tuesday, May 14th. Consolidated Edison’s dividend payout ratio is presently 63.72%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ED. Barclays increased their target price on Consolidated Edison from $89.00 to $97.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 7th. Wells Fargo & Company increased their price objective on shares of Consolidated Edison from $93.00 to $97.00 and gave the company an “equal weight” rating in a research report on Friday, May 3rd. Argus raised shares of Consolidated Edison to a “strong-buy” rating in a research report on Friday, June 7th. Mizuho raised their price target on shares of Consolidated Edison from $93.00 to $95.00 and gave the company a “neutral” rating in a report on Tuesday, May 28th. Finally, Scotiabank cut their price objective on shares of Consolidated Edison from $91.00 to $85.00 and set a “sector underperform” rating on the stock in a report on Monday, April 22nd. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Consolidated Edison presently has an average rating of “Hold” and an average target price of $89.27.

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.