19,800 Shares in Consolidated Edison, Inc. (NYSE:ED) Purchased by Andra AP fonden

Andra AP fonden acquired a new stake in shares of Consolidated Edison, Inc. (NYSE:ED) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 19,800 shares of the utilities provider’s stock, valued at approximately $1,771,000.

Other hedge funds also recently bought and sold shares of the company. Beacon Capital Management LLC boosted its position in shares of Consolidated Edison by 2,307.7% during the 1st quarter. Beacon Capital Management LLC now owns 313 shares of the utilities provider’s stock valued at $28,000 after acquiring an additional 300 shares during the last quarter. Tidemark LLC purchased a new position in Consolidated Edison during the fourth quarter worth about $29,000. Raleigh Capital Management Inc. acquired a new position in Consolidated Edison in the 4th quarter valued at about $29,000. Atlantic Edge Private Wealth Management LLC purchased a new stake in shares of Consolidated Edison in the 4th quarter valued at approximately $33,000. Finally, Pathway Financial Advisers LLC acquired a new stake in shares of Consolidated Edison during the 1st quarter worth approximately $33,000. Institutional investors and hedge funds own 66.29% of the company’s stock.

Wall Street Analysts Forecast Growth

ED has been the topic of a number of recent analyst reports. UBS Group upped 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. Argus raised Consolidated Edison to a “strong-buy” rating in a research note on Friday, June 7th. Guggenheim increased their price target on Consolidated Edison from $88.00 to $91.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Scotiabank boosted their price objective on shares of Consolidated Edison from $85.00 to $90.00 and gave the company a “sector underperform” rating in a report on Tuesday, August 20th. Finally, Mizuho increased their target price on shares of Consolidated Edison from $93.00 to $95.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 28th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $92.65.

Consolidated Edison Price Performance

Shares of ED opened at $103.38 on Friday. The company has a market cap of $35.75 billion, a P/E ratio of 19.84, a PEG ratio of 3.49 and a beta of 0.36. Consolidated Edison, Inc. has a fifty-two week low of $80.46 and a fifty-two week high of $105.99. The company has a quick ratio of 0.97, a current ratio of 1.04 and a debt-to-equity ratio of 1.08. The firm’s 50 day moving average price is $98.42 and its 200 day moving average price is $93.92.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.02. The business had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $3.08 billion. Consolidated Edison had a return on equity of 8.67% and a net margin of 12.03%. During the same period last year, the firm earned $0.61 earnings per share. On average, research analysts forecast that Consolidated Edison, Inc. will post 5.31 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

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 paid a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 3.21%. The ex-dividend date is Wednesday, August 14th. Consolidated Edison’s payout ratio is presently 63.72%.

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.