Prospera Private Wealth LLC Acquires New Position in Consolidated Edison, Inc. (NYSE:ED)

Prospera Private Wealth LLC bought a new position in Consolidated Edison, Inc. (NYSE:ED) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 675 shares of the utilities provider’s stock, valued at approximately $70,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Clean Energy Transition LLP lifted its stake in Consolidated Edison by 227.9% in the second quarter. Clean Energy Transition LLP now owns 897,553 shares of the utilities provider’s stock worth $80,259,000 after purchasing an additional 623,787 shares during the last quarter. International Assets Investment Management LLC lifted its stake in shares of Consolidated Edison by 10,262.1% in the 3rd quarter. International Assets Investment Management LLC now owns 553,546 shares of the utilities provider’s stock valued at $57,641,000 after acquiring an additional 548,204 shares during the last quarter. Acadian Asset Management LLC boosted its holdings in Consolidated Edison by 302.3% during the 2nd quarter. Acadian Asset Management LLC now owns 709,172 shares of the utilities provider’s stock valued at $63,396,000 after acquiring an additional 532,893 shares during the period. Assenagon Asset Management S.A. grew its position in Consolidated Edison by 4,020.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 406,859 shares of the utilities provider’s stock worth $42,366,000 after acquiring an additional 396,985 shares during the last quarter. Finally, AMF Tjanstepension AB increased its stake in Consolidated Edison by 243.2% in the 2nd quarter. AMF Tjanstepension AB now owns 497,982 shares of the utilities provider’s stock worth $44,564,000 after purchasing an additional 352,903 shares during the period. 66.29% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. UBS Group increased their price objective on Consolidated Edison from $105.00 to $106.00 and gave the company a “neutral” rating in a research note on Friday, September 20th. Citigroup upgraded shares of Consolidated Edison from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $103.00 to $116.00 in a report on Tuesday, October 15th. Morgan Stanley lifted their target price on shares of Consolidated Edison from $82.00 to $87.00 and gave the company an “underweight” rating in a research note on Wednesday, September 25th. Wells Fargo & Company increased their price target on shares of Consolidated Edison from $97.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. Finally, Barclays cut their price objective on Consolidated Edison from $104.00 to $99.00 and set an “underweight” rating on the stock in a research report on Friday, November 8th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating, two have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Consolidated Edison currently has an average rating of “Hold” and an average price target of $98.35.

Consolidated Edison Trading Up 0.8 %

NYSE ED opened at $98.67 on Friday. Consolidated Edison, Inc. has a 12 month low of $85.85 and a 12 month high of $107.75. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.07. The stock’s fifty day moving average price is $102.14 and its 200-day moving average price is $98.06. The stock has a market cap of $34.18 billion, a P/E ratio of 18.58, a P/E/G ratio of 3.26 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, beating the consensus estimate of $1.56 by $0.12. The company had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $4.02 billion. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.70%. As a group, equities analysts forecast that Consolidated Edison, Inc. will post 5.33 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors 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 annualized dividend and a yield of 3.36%. Consolidated Edison’s dividend payout ratio (DPR) is presently 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.