Venture Visionary Partners LLC Buys 504 Shares of Consolidated Edison, Inc. (NYSE:ED)

Venture Visionary Partners LLC lifted its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 9.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,618 shares of the utilities provider’s stock after acquiring an additional 504 shares during the quarter. Venture Visionary Partners LLC’s holdings in Consolidated Edison were worth $585,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ED. Sei Investments Co. increased its stake in shares of Consolidated Edison by 57.4% in the first quarter. Sei Investments Co. now owns 244,404 shares of the utilities provider’s stock worth $22,193,000 after purchasing an additional 89,080 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in Consolidated Edison by 153.9% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 245,802 shares of the utilities provider’s stock worth $22,321,000 after buying an additional 148,988 shares in the last quarter. Mizuho Markets Americas LLC raised its holdings in Consolidated Edison by 121.1% during the first quarter. Mizuho Markets Americas LLC now owns 113,675 shares of the utilities provider’s stock valued at $10,323,000 after acquiring an additional 62,260 shares during the period. AMF Tjanstepension AB purchased a new position in shares of Consolidated Edison in the first quarter valued at about $13,193,000. Finally, Plato Investment Management Ltd boosted its stake in shares of Consolidated Edison by 17,683.9% in the first quarter. Plato Investment Management Ltd now owns 9,959 shares of the utilities provider’s stock worth $904,000 after acquiring an additional 9,903 shares during the period. 66.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Guggenheim lifted their target price on Consolidated Edison from $88.00 to $91.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Jefferies Financial Group initiated coverage on shares of Consolidated Edison in a report on Wednesday, October 9th. They issued a “hold” rating and a $108.00 target price on the stock. Morgan Stanley raised their target price on shares of Consolidated Edison from $82.00 to $87.00 and gave the company an “underweight” rating in a research note on Wednesday, September 25th. Scotiabank boosted their price target on shares of Consolidated Edison from $85.00 to $90.00 and gave the stock a “sector underperform” rating in a research note on Tuesday, August 20th. Finally, Barclays raised their price objective on Consolidated Edison from $98.00 to $104.00 and gave the company an “underweight” rating in a research report on Monday. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $98.73.

Consolidated Edison Stock Performance

NYSE ED opened at $105.70 on Wednesday. The business’s 50 day moving average price is $102.97 and its 200-day moving average price is $96.91. Consolidated Edison, Inc. has a fifty-two week low of $85.85 and a fifty-two week high of $107.10. The company has a market cap of $36.55 billion, a P/E ratio of 20.29, a P/E/G ratio of 3.46 and a beta of 0.36. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.97 and a current ratio of 1.04.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02. The business had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $3.08 billion. Consolidated Edison had a net margin of 12.03% and a return on equity of 8.67%. During the same quarter in the previous year, the business posted $0.61 earnings per share. Sell-side analysts predict 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 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 3.14%. The ex-dividend date is Wednesday, November 13th. Consolidated Edison’s payout ratio is currently 63.72%.

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.