Consolidated Edison, Inc. (NYSE:ED) Shares Acquired by Scientech Research LLC

Scientech Research LLC raised its holdings in shares of Consolidated Edison, Inc. (NYSE:ED) by 161.7% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,906 shares of the utilities provider’s stock after purchasing an additional 4,267 shares during the quarter. Scientech Research LLC’s holdings in Consolidated Edison were worth $618,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of ED. Retirement Planning Co of New England Inc. raised its stake in shares of Consolidated Edison by 4.2% in the 2nd quarter. Retirement Planning Co of New England Inc. now owns 2,501 shares of the utilities provider’s stock valued at $224,000 after purchasing an additional 100 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its holdings in Consolidated Edison by 13.0% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 868 shares of the utilities provider’s stock valued at $78,000 after buying an additional 100 shares during the last quarter. Syon Capital LLC raised its stake in Consolidated Edison by 2.3% during the fourth quarter. Syon Capital LLC now owns 5,954 shares of the utilities provider’s stock valued at $542,000 after buying an additional 136 shares in the last quarter. G&S Capital LLC lifted its holdings in Consolidated Edison by 1.6% during the 1st quarter. G&S Capital LLC now owns 8,747 shares of the utilities provider’s stock worth $794,000 after buying an additional 139 shares during the last quarter. Finally, Checchi Capital Advisers LLC grew its position in shares of Consolidated Edison by 2.6% in the 2nd quarter. Checchi Capital Advisers LLC now owns 5,627 shares of the utilities provider’s stock worth $503,000 after acquiring an additional 141 shares in the last quarter. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

Consolidated Edison Stock Performance

Shares of ED stock opened at $104.05 on Friday. Consolidated Edison, Inc. has a 12-month low of $80.46 and a 12-month high of $105.99. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.04 and a quick ratio of 0.97. The firm has a market capitalization of $35.98 billion, a price-to-earnings ratio of 19.97, a price-to-earnings-growth ratio of 3.52 and a beta of 0.36. The business has a 50 day simple moving average of $101.15 and a 200 day simple moving average of $95.12.

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

Consolidated Edison Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Wednesday, August 14th were paid a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date of this dividend was Wednesday, August 14th. Consolidated Edison’s dividend payout ratio is currently 63.72%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ED. Wells Fargo & Company upped their price target on Consolidated Edison from $97.00 to $105.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. Argus raised shares of Consolidated Edison to a “strong-buy” rating in a report on Friday, June 7th. Morgan Stanley lifted their price target on shares of Consolidated Edison from $82.00 to $87.00 and gave the company an “underweight” rating in a report on Wednesday. UBS Group boosted their price objective on shares of Consolidated Edison from $105.00 to $106.00 and gave the company a “neutral” rating in a research report on Friday, September 20th. Finally, Guggenheim raised their target price on shares of Consolidated Edison from $88.00 to $91.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $93.81.

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.