Burns J W & Co. Inc. NY Acquires 462 Shares of Consolidated Edison, Inc. (NYSE:ED)

Burns J W & Co. Inc. NY boosted its holdings in Consolidated Edison, Inc. (NYSE:ED) by 7.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,980 shares of the utilities provider’s stock after buying an additional 462 shares during the quarter. Burns J W & Co. Inc. NY’s holdings in Consolidated Edison were worth $727,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the business. Czech National Bank raised its holdings in Consolidated Edison by 6.9% in the 3rd quarter. Czech National Bank now owns 70,450 shares of the utilities provider’s stock valued at $7,336,000 after buying an additional 4,548 shares during the last quarter. Centaurus Financial Inc. raised its holdings in Consolidated Edison by 9.0% during the 2nd quarter. Centaurus Financial Inc. now owns 5,713 shares of the utilities provider’s stock worth $511,000 after purchasing an additional 471 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in Consolidated Edison by 52.5% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 145,288 shares of the utilities provider’s stock worth $12,992,000 after purchasing an additional 50,044 shares during the last quarter. Verity & Verity LLC bought a new position in Consolidated Edison during the 2nd quarter worth approximately $364,000. Finally, Sanctuary Advisors LLC bought a new position in Consolidated Edison during the 2nd quarter worth approximately $4,159,000. Institutional investors own 66.29% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on ED shares. Wells Fargo & Company raised their price target on shares of Consolidated Edison from $97.00 to $105.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. Scotiabank raised their price target on shares of Consolidated Edison from $85.00 to $90.00 and gave the stock a “sector underperform” rating in a report on Tuesday, August 20th. UBS Group raised their price target on shares of Consolidated Edison from $105.00 to $106.00 and gave the stock a “neutral” rating in a report on Friday, September 20th. Bank of America raised their price objective on shares of Consolidated Edison from $97.00 to $109.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Finally, Barclays raised their price objective on shares of Consolidated Edison from $92.00 to $98.00 and gave the stock an “underweight” rating in a research report on Monday, August 5th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $93.88.

Consolidated Edison Stock Down 0.8 %

NYSE ED traded down $0.87 during mid-day trading on Friday, hitting $103.15. The company’s stock had a trading volume of 952,852 shares, compared to its average volume of 1,826,538. The company’s 50 day simple moving average is $102.05 and its 200 day simple moving average is $95.60. Consolidated Edison, Inc. has a twelve month low of $82.66 and a twelve month high of $105.99. The company has a current ratio of 1.04, a quick ratio of 0.97 and a debt-to-equity ratio of 1.08. The firm has a market capitalization of $35.67 billion, a price-to-earnings ratio of 19.80, a PEG ratio of 3.52 and a beta of 0.36.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings results 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. Consolidated Edison had a net margin of 12.03% and a return on equity of 8.67%. The business had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.08 billion. During the same quarter last year, the firm posted $0.61 EPS. Analysts anticipate that Consolidated Edison, Inc. will post 5.3 earnings per share 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 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date 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.