Consolidated Edison, Inc. (NYSE:ED) Shares Bought by Crestwood Advisors Group LLC

Crestwood Advisors Group LLC boosted its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 5.7% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 4,969 shares of the utilities provider’s stock after purchasing an additional 270 shares during the quarter. Crestwood Advisors Group LLC’s holdings in Consolidated Edison were worth $444,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ED. Beacon Capital Management LLC lifted its stake in shares of Consolidated Edison by 2,307.7% in the 1st quarter. Beacon Capital Management LLC now owns 313 shares of the utilities provider’s stock valued at $28,000 after purchasing an additional 300 shares during the last quarter. Tidemark LLC acquired a new position in shares of Consolidated Edison in the 4th quarter valued at $29,000. Raleigh Capital Management Inc. acquired a new position in shares of Consolidated Edison in the 4th quarter valued at $29,000. Atlantic Edge Private Wealth Management LLC acquired a new position in shares of Consolidated Edison in the 4th quarter valued at $33,000. Finally, Pathway Financial Advisers LLC acquired a new position in shares of Consolidated Edison in the 1st quarter valued at $33,000. Institutional investors and hedge funds own 66.29% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on ED shares. Bank of America upped their price target on Consolidated Edison from $97.00 to $109.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Morgan Stanley boosted their price objective on Consolidated Edison from $75.00 to $82.00 and gave the company an “underweight” rating in a report on Friday, August 23rd. Argus upgraded Consolidated Edison to a “strong-buy” rating in a report on Friday, June 7th. Guggenheim boosted their price objective on Consolidated Edison from $88.00 to $91.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Finally, UBS Group boosted 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. Four research 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’s stock. According to data from MarketBeat, Consolidated Edison has a consensus rating of “Hold” and a consensus price target of $92.65.

Consolidated Edison Price Performance

Shares of NYSE ED opened at $103.30 on Wednesday. The stock’s 50-day moving average is $96.34 and its two-hundred day moving average is $93.21. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.04 and a quick ratio of 0.97. Consolidated Edison, Inc. has a 1-year low of $80.46 and a 1-year high of $105.99. The company has a market cap of $35.72 billion, a price-to-earnings ratio of 19.83, a price-to-earnings-growth ratio of 3.43 and a beta of 0.34.

Consolidated Edison (NYSE:ED) last issued its earnings results on Thursday, August 1st. The utilities provider reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.02. Consolidated Edison had a return on equity of 8.67% and a net margin of 12.03%. The business had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.08 billion. During the same quarter last year, the company earned $0.61 EPS. Analysts forecast that Consolidated Edison, Inc. will post 5.3 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Wednesday, August 14th will be paid a $0.83 dividend. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $3.32 annualized dividend and a dividend yield of 3.21%. Consolidated Edison’s dividend payout ratio (DPR) is currently 63.72%.

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.