Windle Wealth LLC Acquires 1,096 Shares of Consolidated Edison, Inc. (NYSE:ED)

Windle Wealth LLC grew its holdings in Consolidated Edison, Inc. (NYSE:ED) by 1.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 69,125 shares of the utilities provider’s stock after acquiring an additional 1,096 shares during the quarter. Consolidated Edison accounts for approximately 3.9% of Windle Wealth LLC’s investment portfolio, making the stock its 16th biggest position. Windle Wealth LLC’s holdings in Consolidated Edison were worth $7,198,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. OneAscent Wealth Management LLC acquired a new position in Consolidated Edison in the third quarter valued at about $237,000. Meeder Advisory Services Inc. raised its stake in Consolidated Edison by 3.6% in the third quarter. Meeder Advisory Services Inc. now owns 9,814 shares of the utilities provider’s stock valued at $1,022,000 after purchasing an additional 341 shares in the last quarter. Taurus Asset Management LLC acquired a new position in Consolidated Edison in the third quarter valued at about $271,000. TrinityPoint Wealth LLC raised its stake in Consolidated Edison by 16.6% in the third quarter. TrinityPoint Wealth LLC now owns 11,266 shares of the utilities provider’s stock valued at $1,173,000 after purchasing an additional 1,600 shares in the last quarter. Finally, Swiss National Bank raised its stake in Consolidated Edison by 0.3% in the third quarter. Swiss National Bank now owns 1,026,500 shares of the utilities provider’s stock valued at $106,889,000 after purchasing an additional 3,500 shares in the last quarter. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Stock Performance

Shares of ED stock opened at $96.45 on Tuesday. The business’s 50 day simple moving average is $102.51 and its 200 day simple moving average is $98.05. Consolidated Edison, Inc. has a one year low of $85.85 and a one year high of $107.75. The stock has a market capitalization of $33.41 billion, a PE ratio of 18.16, a PEG ratio of 3.24 and a beta of 0.36. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93.

Consolidated Edison (NYSE:ED) last announced its 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 return on equity of 8.70% and a net margin of 12.27%. The business had revenue of $4.09 billion for the quarter, compared to analysts’ expectations of $4.02 billion. As a group, research analysts forecast that Consolidated Edison, Inc. will post 5.33 earnings per share for the current year.

Consolidated Edison Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Wednesday, November 13th will be issued a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date of this dividend is Wednesday, November 13th. Consolidated Edison’s dividend payout ratio is currently 62.52%.

Wall Street Analyst Weigh In

ED has been the subject of several research analyst reports. Wells Fargo & Company boosted their target price 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. Morgan Stanley boosted their target price on Consolidated Edison from $82.00 to $87.00 and gave the stock an “underweight” rating in a research note on Wednesday, September 25th. UBS Group boosted their target price on Consolidated Edison from $105.00 to $106.00 and gave the stock a “neutral” rating in a research note on Friday, September 20th. Evercore ISI raised Consolidated Edison from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 8th. Finally, Scotiabank upped their price objective on Consolidated Edison from $85.00 to $90.00 and gave the company a “sector underperform” rating in a research note on Tuesday, August 20th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Consolidated Edison presently has an average rating of “Hold” and an average target price of $98.35.

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.