Mount Yale Investment Advisors LLC Has $354,000 Holdings in Consolidated Edison, Inc. (NYSE:ED)

Mount Yale Investment Advisors LLC lessened its stake in Consolidated Edison, Inc. (NYSE:ED) by 14.1% in the third quarter, Holdings Channel reports. The firm owned 3,395 shares of the utilities provider’s stock after selling 558 shares during the quarter. Mount Yale Investment Advisors LLC’s holdings in Consolidated Edison were worth $354,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of ED. Clean Energy Transition LLP raised its stake in Consolidated Edison by 227.9% in the second quarter. Clean Energy Transition LLP now owns 897,553 shares of the utilities provider’s stock valued at $80,259,000 after purchasing an additional 623,787 shares in the last quarter. International Assets Investment Management LLC grew its position in Consolidated Edison by 10,262.1% in the third quarter. International Assets Investment Management LLC now owns 553,546 shares of the utilities provider’s stock valued at $57,641,000 after acquiring an additional 548,204 shares during the last quarter. Acadian Asset Management LLC grew its position in Consolidated Edison by 302.3% in the second quarter. Acadian Asset Management LLC now owns 709,172 shares of the utilities provider’s stock valued at $63,396,000 after acquiring an additional 532,893 shares during the last quarter. Assenagon Asset Management S.A. grew its position in Consolidated Edison by 4,020.5% in the third quarter. Assenagon Asset Management S.A. now owns 406,859 shares of the utilities provider’s stock valued at $42,366,000 after acquiring an additional 396,985 shares during the last quarter. Finally, AMF Tjanstepension AB grew its position in Consolidated Edison by 243.2% in the second quarter. AMF Tjanstepension AB now owns 497,982 shares of the utilities provider’s stock valued at $44,564,000 after acquiring an additional 352,903 shares during the last quarter. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Price Performance

Shares of ED opened at $104.60 on Monday. Consolidated Edison, Inc. has a 52-week low of $85.85 and a 52-week high of $107.75. 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 business’s 50 day moving average price is $103.35 and its two-hundred day moving average price is $97.25. The firm has a market cap of $36.17 billion, a PE ratio of 20.08, a price-to-earnings-growth ratio of 3.57 and a beta of 0.36.

Consolidated Edison (NYSE:ED) last issued 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 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 analyst estimates of $3.08 billion. During the same period in the previous year, the firm earned $0.61 earnings per share. On average, equities analysts anticipate that Consolidated Edison, Inc. will post 5.3 EPS for the current year.

Consolidated Edison Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Wednesday, November 13th will be paid a $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 3.17%. The ex-dividend date is Wednesday, November 13th. Consolidated Edison’s dividend payout ratio (DPR) is presently 63.72%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ED. Jefferies Financial Group initiated coverage on Consolidated Edison in a research report on Wednesday, October 9th. They issued a “hold” rating and a $108.00 target price on the stock. Scotiabank boosted their price target on Consolidated Edison from $85.00 to $90.00 and gave the stock a “sector underperform” rating in a report on Tuesday, August 20th. Bank of America boosted their price target on Consolidated Edison from $97.00 to $109.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Barclays boosted their price target on Consolidated Edison from $98.00 to $104.00 and gave the stock an “underweight” rating in a report on Monday, October 21st. Finally, Wells Fargo & Company lifted their price objective on Consolidated Edison from $97.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. Four analysts have rated the stock with a sell rating, eight have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Consolidated Edison currently has an average rating of “Hold” and a consensus price target of $98.73.

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.