First Trust Direct Indexing L.P. Has $1.64 Million Position in Consolidated Edison, Inc. (NYSE:ED)

First Trust Direct Indexing L.P. boosted its holdings in Consolidated Edison, Inc. (NYSE:ED) by 18.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,066 shares of the utilities provider’s stock after buying an additional 2,836 shares during the period. First Trust Direct Indexing L.P.’s holdings in Consolidated Edison were worth $1,643,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of ED. Financial Gravity Asset Management Inc. lifted its stake in shares of Consolidated Edison by 215.6% during the third quarter. Financial Gravity Asset Management Inc. now owns 284 shares of the utilities provider’s stock valued at $25,000 after acquiring an additional 194 shares during the period. Turtle Creek Wealth Advisors LLC bought a new position in shares of Consolidated Edison during the fourth quarter worth about $29,000. Bruce G. Allen Investments LLC bought a new position in shares of Consolidated Edison during the fourth quarter worth about $31,000. CVA Family Office LLC bought a new position in shares of Consolidated Edison during the fourth quarter worth about $32,000. Finally, Venturi Wealth Management LLC grew its holdings in shares of Consolidated Edison by 62.2% during the third quarter. Venturi Wealth Management LLC now owns 477 shares of the utilities provider’s stock worth $41,000 after buying an additional 183 shares in the last quarter. 66.29% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on ED shares. KeyCorp raised Consolidated Edison from an “underweight” rating to a “sector weight” rating in a research report on Thursday, January 4th. 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 report on Monday, April 22nd. UBS Group dropped their price target on Consolidated Edison from $99.00 to $94.00 and set a “neutral” rating for the company in a report on Friday, February 16th. Royal Bank of Canada dropped their price target on Consolidated Edison from $94.00 to $93.00 and set a “sector perform” rating for the company in a report on Friday, February 16th. Finally, LADENBURG THALM/SH SH started coverage on Consolidated Edison in a research note on Wednesday, January 3rd. They set a “neutral” rating and a $92.50 price objective on the stock. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $87.54.

Consolidated Edison Stock Up 0.4 %

ED traded up $0.38 during midday trading on Thursday, reaching $95.18. 280,614 shares of the company were exchanged, compared to its average volume of 1,869,434. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.94 and a current ratio of 1.01. The company’s fifty day moving average price is $89.91 and its 200 day moving average price is $90.04. The company has a market cap of $32.89 billion, a price-to-earnings ratio of 13.20, a price-to-earnings-growth ratio of 8.89 and a beta of 0.34. Consolidated Edison, Inc. has a one year low of $80.46 and a one year high of $100.44.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings data on Thursday, February 15th. The utilities provider reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.02. The firm had revenue of $3.44 billion during the quarter, compared to analyst estimates of $3.70 billion. Consolidated Edison had a return on equity of 8.41% and a net margin of 17.19%. The company’s revenue for the quarter was down 14.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.81 EPS. As a group, analysts expect that Consolidated Edison, Inc. will post 5.31 EPS for the current year.

Consolidated Edison Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Wednesday, May 15th will be paid a $0.83 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $3.32 annualized dividend and a yield of 3.49%. Consolidated Edison’s payout ratio is 46.24%.

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.