Coston McIsaac & Partners Has $5.34 Million Position in Consolidated Edison, Inc. (NYSE:ED)

Coston McIsaac & Partners increased its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 3.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,841 shares of the utilities provider’s stock after buying an additional 2,115 shares during the quarter. Consolidated Edison comprises approximately 1.7% of Coston McIsaac & Partners’ investment portfolio, making the stock its 16th biggest position. Coston McIsaac & Partners’ holdings in Consolidated Edison were worth $5,343,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in ED. Advisors Capital Management LLC lifted its stake in Consolidated Edison by 3.8% during the third quarter. Advisors Capital Management LLC now owns 3,312 shares of the utilities provider’s stock worth $283,000 after purchasing an additional 122 shares during the last quarter. Jeppson Wealth Management LLC lifted its stake in Consolidated Edison by 1.6% during the fourth quarter. Jeppson Wealth Management LLC now owns 7,716 shares of the utilities provider’s stock worth $702,000 after purchasing an additional 125 shares during the last quarter. Sandy Spring Bank lifted its stake in Consolidated Edison by 11.4% during the fourth quarter. Sandy Spring Bank now owns 1,222 shares of the utilities provider’s stock worth $111,000 after purchasing an additional 125 shares during the last quarter. Syon Capital LLC lifted its stake in Consolidated Edison by 2.3% during the fourth quarter. Syon Capital LLC now owns 5,954 shares of the utilities provider’s stock worth $542,000 after purchasing an additional 136 shares during the last quarter. Finally, G&S Capital LLC lifted its stake in Consolidated Edison by 1.6% during the first quarter. G&S Capital LLC now owns 8,747 shares of the utilities provider’s stock worth $794,000 after purchasing an additional 139 shares during the last quarter. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Trading Down 0.3 %

NYSE ED traded down $0.26 on Friday, reaching $89.42. The company had a trading volume of 2,647,348 shares, compared to its average volume of 1,956,333. The firm has a market cap of $30.92 billion, a price-to-earnings ratio of 17.16, a P/E/G ratio of 2.27 and a beta of 0.35. Consolidated Edison, Inc. has a fifty-two week low of $80.46 and a fifty-two week high of $98.85. The business has a 50 day moving average of $93.56 and a two-hundred day moving average of $91.13. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.99 and a quick ratio of 0.92.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings data on Thursday, May 2nd. The utilities provider reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.26. The business had revenue of $4.28 billion during the quarter, compared to the consensus estimate of $4.40 billion. Consolidated Edison had a return on equity of 8.79% and a net margin of 12.43%. Consolidated Edison’s quarterly revenue was down 2.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.83 earnings per share. Analysts forecast that Consolidated Edison, Inc. will post 5.33 EPS for the current year.

Consolidated Edison Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Wednesday, May 15th were issued a dividend of $0.83 per share. The ex-dividend date was Tuesday, May 14th. This represents a $3.32 dividend on an annualized basis and a yield of 3.71%. Consolidated Edison’s payout ratio is currently 63.72%.

Analyst Ratings Changes

Several research firms have weighed in on ED. Argus upgraded Consolidated Edison to a “strong-buy” rating in a research note on Friday, June 7th. Scotiabank dropped their price target on Consolidated Edison from $91.00 to $85.00 and set a “sector underperform” rating for the company in a research note on Monday, April 22nd. Morgan Stanley dropped their price target on Consolidated Edison from $80.00 to $76.00 and set an “underweight” rating for the company in a research note on Monday, June 24th. Mizuho increased their price target on Consolidated Edison from $93.00 to $95.00 and gave the company a “neutral” rating in a research note on Tuesday, May 28th. Finally, Wells Fargo & Company increased their price target on Consolidated Edison from $93.00 to $97.00 and gave the company an “equal weight” rating in a research note on Friday, May 3rd. Three analysts have rated the stock with a sell rating, eight have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $89.27.

Consolidated Edison Company 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.