Ashton Thomas Securities LLC Takes $30,000 Position in Consolidated Edison, Inc. (NYSE:ED)

Ashton Thomas Securities LLC purchased a new stake in Consolidated Edison, Inc. (NYSE:ED) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 287 shares of the utilities provider’s stock, valued at approximately $30,000.

Several other institutional investors have also recently bought and sold shares of the stock. Los Angeles Capital Management LLC boosted its position in Consolidated Edison by 5.2% in the 3rd quarter. Los Angeles Capital Management LLC now owns 272,310 shares of the utilities provider’s stock valued at $28,356,000 after buying an additional 13,342 shares during the last quarter. Mitchell Mcleod Pugh & Williams Inc. acquired a new position in shares of Consolidated Edison during the third quarter valued at $211,000. Baker Avenue Asset Management LP bought a new position in Consolidated Edison in the third quarter valued at about $321,000. Mesirow Financial Investment Management Inc. increased its position in Consolidated Edison by 3.0% in the third quarter. Mesirow Financial Investment Management Inc. now owns 10,984 shares of the utilities provider’s stock worth $1,144,000 after purchasing an additional 325 shares during the period. Finally, Klingman & Associates LLC increased its position in Consolidated Edison by 6.5% in the third quarter. Klingman & Associates LLC now owns 2,745 shares of the utilities provider’s stock worth $286,000 after purchasing an additional 168 shares during the period. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Price Performance

ED stock opened at $95.25 on Friday. The stock has a 50-day moving average price of $102.99 and a two-hundred day moving average price of $98.00. Consolidated Edison, Inc. has a 1 year low of $85.85 and a 1 year high of $107.75. The stock has a market cap of $33.00 billion, a PE ratio of 17.94, a price-to-earnings-growth ratio of 3.26 and a beta of 0.36. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.07.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings data on Thursday, November 7th. The utilities provider reported $1.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.56 by $0.12. The business had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $4.02 billion. Consolidated Edison had a return on equity of 8.70% and a net margin of 12.27%. Equities analysts forecast that Consolidated Edison, Inc. will post 5.33 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Wednesday, November 13th will be issued a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 3.49%. The ex-dividend date is Wednesday, November 13th. Consolidated Edison’s payout ratio is 62.52%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on ED shares. Citigroup raised shares of Consolidated Edison from a “neutral” rating to a “buy” rating and raised their target price for the company from $103.00 to $116.00 in a research note on Tuesday, October 15th. Scotiabank lifted their target price 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. Barclays cut their price target on Consolidated Edison from $104.00 to $99.00 and set an “underweight” rating on the stock in a research note on Friday, November 8th. UBS Group lifted their price objective on Consolidated Edison from $105.00 to $106.00 and gave the stock a “neutral” rating in a research note on Friday, September 20th. Finally, 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 note on Friday, August 2nd. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating, two have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $98.35.

About Consolidated Edison

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.