Diversified LLC Makes New $203,000 Investment in Consolidated Edison, Inc. (NYSE:ED)

Diversified LLC purchased a new stake in shares of Consolidated Edison, Inc. (NYSE:ED) in the 3rd quarter, HoldingsChannel reports. The institutional investor purchased 1,948 shares of the utilities provider’s stock, valued at approximately $203,000.

Other institutional investors have also modified their holdings of the company. Capital Performance Advisors LLP bought a new position in Consolidated Edison in the 3rd quarter worth approximately $27,000. Beacon Capital Management LLC boosted its position in Consolidated Edison by 2,307.7% during the 1st quarter. Beacon Capital Management LLC now owns 313 shares of the utilities provider’s stock worth $28,000 after acquiring an additional 300 shares during the period. Ashton Thomas Securities LLC bought a new position in shares of Consolidated Edison in the third quarter worth $30,000. Pathway Financial Advisers LLC acquired a new position in shares of Consolidated Edison during the first quarter valued at $33,000. Finally, TruNorth Capital Management LLC bought a new stake in shares of Consolidated Edison during the second quarter valued at about $33,000. Institutional investors own 66.29% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on ED. Wells Fargo & Company increased their target price on shares of Consolidated Edison from $97.00 to $105.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. Jefferies Financial Group started coverage on shares of Consolidated Edison in a report on Wednesday, October 9th. They issued a “hold” rating and a $108.00 price objective for the company. Evercore ISI raised Consolidated Edison from a “hold” rating to a “strong-buy” rating in a report on Friday, November 8th. Guggenheim increased their price target on Consolidated Edison from $88.00 to $91.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Finally, Citigroup upgraded Consolidated Edison from a “neutral” rating to a “buy” rating and lifted their price target for the company from $103.00 to $116.00 in a research report on Tuesday, October 15th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating, two have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $98.19.

Consolidated Edison Price Performance

NYSE ED opened at $99.46 on Tuesday. Consolidated Edison, Inc. has a 1 year low of $85.85 and a 1 year high of $107.75. The stock’s 50-day moving average price is $101.91 and its two-hundred day moving average price is $98.10. The company has a market cap of $34.45 billion, a PE ratio of 18.73, a PEG ratio of 3.31 and a beta of 0.36. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.07.

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

Consolidated Edison Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Wednesday, November 13th will be given a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 3.34%. The ex-dividend date is Wednesday, November 13th. Consolidated Edison’s payout ratio is 62.52%.

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.