Benjamin F. Edwards & Company Inc. Purchases 100 Shares of Consolidated Edison, Inc. (NYSE:ED)

Benjamin F. Edwards & Company Inc. boosted its position in shares of Consolidated Edison, Inc. (NYSE:ED) by 13.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 868 shares of the utilities provider’s stock after acquiring an additional 100 shares during the period. Benjamin F. Edwards & Company Inc.’s holdings in Consolidated Edison were worth $78,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ED. Beacon Capital Management LLC increased its stake in Consolidated Edison by 2,307.7% during the first 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 period. Raleigh Capital Management Inc. acquired a new stake in Consolidated Edison during the fourth quarter valued at approximately $29,000. Pathway Financial Advisers LLC acquired a new stake in Consolidated Edison during the first quarter valued at approximately $33,000. TruNorth Capital Management LLC acquired a new stake in Consolidated Edison during the second quarter valued at approximately $33,000. Finally, Quarry LP acquired a new stake in Consolidated Edison during the fourth quarter valued at approximately $35,000. 66.29% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on ED. Scotiabank lifted their price objective on Consolidated Edison from $85.00 to $90.00 and gave the company a “sector underperform” rating in a report on Tuesday, August 20th. Morgan Stanley lifted their price objective on Consolidated Edison from $82.00 to $87.00 and gave the company an “underweight” rating in a report on Wednesday. Barclays lifted their price objective on Consolidated Edison from $92.00 to $98.00 and gave the company an “underweight” rating in a report on Monday, August 5th. Bank of America boosted their target price on Consolidated Edison from $97.00 to $109.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Finally, Wells Fargo & Company boosted their target price on Consolidated Edison from $97.00 to $105.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. 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 assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $93.81.

Consolidated Edison Stock Up 0.9 %

NYSE:ED opened at $104.05 on Friday. The stock’s fifty day moving average price is $100.95 and its two-hundred day moving average price is $94.99. Consolidated Edison, Inc. has a 52-week low of $80.46 and a 52-week high of $105.99. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.97 and a current ratio of 1.04. The company has a market cap of $35.98 billion, a price-to-earnings ratio of 20.02, a P/E/G ratio of 3.52 and a beta of 0.36.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.59 earnings per share (EPS) 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 firm had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.08 billion. During the same quarter in the prior year, the business earned $0.61 EPS. On average, analysts anticipate that Consolidated Edison, Inc. will post 5.3 EPS for the current year.

Consolidated Edison Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Wednesday, August 14th were issued a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 3.19%. The ex-dividend date of this dividend was Wednesday, August 14th. Consolidated Edison’s dividend payout ratio is 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.