Archer Investment Corp Has $859,000 Stock Position in Consolidated Edison, Inc. (NYSE:ED)

Archer Investment Corp boosted its holdings in shares of Consolidated Edison, Inc. (NYSE:ED) by 49.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,250 shares of the utilities provider’s stock after buying an additional 2,731 shares during the period. Archer Investment Corp’s holdings in Consolidated Edison were worth $859,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of ED. Retirement Planning Co of New England Inc. increased its position in Consolidated Edison by 4.2% in the 2nd quarter. Retirement Planning Co of New England Inc. now owns 2,501 shares of the utilities provider’s stock worth $224,000 after purchasing an additional 100 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its position in Consolidated Edison by 13.0% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 868 shares of the utilities provider’s stock worth $78,000 after purchasing an additional 100 shares during the last quarter. Brookstone Capital Management increased its position in Consolidated Edison by 0.6% in the 3rd quarter. Brookstone Capital Management now owns 24,173 shares of the utilities provider’s stock worth $2,517,000 after purchasing an additional 136 shares during the last quarter. Checchi Capital Advisers LLC boosted its stake in shares of Consolidated Edison by 2.6% during the 2nd quarter. Checchi Capital Advisers LLC now owns 5,627 shares of the utilities provider’s stock worth $503,000 after acquiring an additional 141 shares in the last quarter. Finally, Center For Asset Management LLC boosted its stake in shares of Consolidated Edison by 3.5% during the 2nd quarter. Center For Asset Management LLC now owns 4,358 shares of the utilities provider’s stock worth $390,000 after acquiring an additional 147 shares in the last quarter. 66.29% of the stock is owned by institutional investors and hedge funds.

Consolidated Edison Stock Performance

Shares of ED stock traded down $0.05 during mid-day trading on Friday, reaching $95.19. The stock had a trading volume of 154,870 shares, compared to its average volume of 1,861,117. The firm’s 50 day simple moving average is $102.81 and its 200 day simple moving average is $97.98. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07. Consolidated Edison, Inc. has a one year low of $85.85 and a one year high of $107.75. The firm has a market cap of $32.97 billion, a PE ratio of 18.04, a P/E/G ratio of 3.21 and a beta of 0.36.

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

Consolidated Edison Dividend Announcement

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 given a $0.83 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.49%. Consolidated Edison’s dividend payout ratio is currently 62.52%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on ED shares. Wells Fargo & Company upped their price target 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. Evercore ISI upgraded Consolidated Edison from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 8th. UBS Group upped their price target on Consolidated Edison from $105.00 to $106.00 and gave the stock a “neutral” rating in a research note on Friday, September 20th. Scotiabank upped their price target on 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 decreased their price target on Consolidated Edison from $104.00 to $99.00 and set an “underweight” rating for the company in a research note on Friday, November 8th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $98.35.

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.