Dakota Wealth Management Increases Stake in Consolidated Edison, Inc. (NYSE:ED)

Dakota Wealth Management boosted its stake in Consolidated Edison, Inc. (NYSE:ED) by 14.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 11,499 shares of the utilities provider’s stock after purchasing an additional 1,446 shares during the quarter. Dakota Wealth Management’s holdings in Consolidated Edison were worth $1,197,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Beacon Capital Management LLC raised its holdings in shares of Consolidated Edison by 2,307.7% in the 1st quarter. Beacon Capital Management LLC now owns 313 shares of the utilities provider’s stock worth $28,000 after purchasing an additional 300 shares during the period. Pathway Financial Advisers LLC acquired a new stake in Consolidated Edison during the 1st quarter worth approximately $33,000. TruNorth Capital Management LLC purchased a new position in Consolidated Edison in the second quarter valued at approximately $33,000. Versant Capital Management Inc lifted its position in Consolidated Edison by 380.2% during the second quarter. Versant Capital Management Inc now owns 413 shares of the utilities provider’s stock valued at $37,000 after buying an additional 327 shares in the last quarter. Finally, ESL Trust Services LLC purchased a new stake in Consolidated Edison during the first quarter worth approximately $54,000. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

Consolidated Edison Stock Down 2.2 %

ED stock opened at $104.60 on Friday. 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 50 day simple moving average of $103.35 and a 200-day simple moving average of $97.15. The company has a market capitalization of $36.21 billion, a P/E ratio of 20.35, a PEG ratio of 3.57 and a beta of 0.36. Consolidated Edison, Inc. has a twelve month low of $85.85 and a twelve month high of $107.75.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.02. The company had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.08 billion. Consolidated Edison had a net margin of 12.03% and a return on equity of 8.67%. During the same period last year, the business earned $0.61 EPS. On average, equities research analysts predict that Consolidated Edison, Inc. will post 5.3 earnings per share for the current fiscal 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 dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 3.17%. The ex-dividend date of this dividend is Wednesday, November 13th. Consolidated Edison’s payout ratio is currently 64.59%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Bank of America raised their target price on shares of Consolidated Edison from $97.00 to $109.00 and gave the company a “buy” rating in a research note on Monday, August 5th. 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, October 21st. UBS Group upped their target price on Consolidated Edison from $105.00 to $106.00 and gave the stock a “neutral” rating in a research report on Friday, September 20th. Guggenheim raised their target price on Consolidated Edison from $88.00 to $91.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Finally, Scotiabank upped 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. 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 given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $98.73.

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.