Wedmont Private Capital Purchases 644 Shares of Consolidated Edison, Inc. (NYSE:ED)

Wedmont Private Capital raised its position in Consolidated Edison, Inc. (NYSE:EDGet Rating) by 19.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,971 shares of the utilities provider’s stock after purchasing an additional 644 shares during the quarter. Wedmont Private Capital’s holdings in Consolidated Edison were worth $378,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in ED. Godsey & Gibb Associates acquired a new stake in shares of Consolidated Edison in the fourth quarter valued at about $26,000. Tyler Stone Wealth Management bought a new position in Consolidated Edison during the 4th quarter worth approximately $26,000. Rise Advisors LLC acquired a new position in shares of Consolidated Edison in the 4th quarter worth approximately $30,000. Riverview Trust Co bought a new stake in shares of Consolidated Edison in the 1st quarter valued at $34,000. Finally, First Command Bank increased its position in shares of Consolidated Edison by 43.3% during the first quarter. First Command Bank now owns 364 shares of the utilities provider’s stock worth $34,000 after buying an additional 110 shares during the period. 64.76% of the stock is currently owned by institutional investors.

Consolidated Edison Price Performance

ED opened at $97.41 on Monday. Consolidated Edison, Inc. has a 1 year low of $71.52 and a 1 year high of $102.21. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.88 and a quick ratio of 0.82. The company has a market capitalization of $34.54 billion, a price-to-earnings ratio of 21.32, a P/E/G ratio of 10.87 and a beta of 0.25. The firm’s fifty day moving average price is $97.47 and its two-hundred day moving average price is $95.23.

Consolidated Edison (NYSE:EDGet Rating) last posted its quarterly earnings data on Thursday, August 4th. The utilities provider reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.09. Consolidated Edison had a net margin of 11.16% and a return on equity of 7.83%. During the same quarter in the previous year, the company posted $0.53 EPS. As a group, analysts anticipate that Consolidated Edison, Inc. will post 4.48 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Wednesday, August 17th were given a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 3.24%. The ex-dividend date was Tuesday, August 16th. Consolidated Edison’s payout ratio is 69.15%.

Wall Street Analysts Forecast Growth

ED has been the subject of several research analyst reports. Credit Suisse Group lifted their price objective on Consolidated Edison from $92.00 to $94.00 and gave the stock a “neutral” rating in a research report on Monday, August 8th. Guggenheim upgraded shares of Consolidated Edison from a “sell” rating to a “neutral” rating and set a $94.00 price objective for the company in a research note on Monday, May 23rd. Mizuho cut their target price on shares of Consolidated Edison from $100.00 to $99.00 and set a “buy” rating on the stock in a research note on Monday, June 27th. Morgan Stanley lifted their price target on shares of Consolidated Edison from $77.00 to $84.00 and gave the company an “underweight” rating in a research note on Tuesday, August 23rd. Finally, KeyCorp increased their price objective on shares of Consolidated Edison from $72.00 to $75.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 19th. Five investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $86.00.

Consolidated Edison Profile

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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 3.5 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 1,555 customers in parts of Manhattan.

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Institutional Ownership by Quarter for Consolidated Edison (NYSE:ED)

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