2,282 Shares in Consolidated Edison, Inc. (NYSE:ED) Acquired by Empirical Financial Services LLC d.b.a. Empirical Wealth Management

Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in shares of Consolidated Edison, Inc. (NYSE:ED) in the 4th quarter, HoldingsChannel.com reports. The firm acquired 2,282 shares of the utilities provider’s stock, valued at approximately $208,000.

A number of other institutional investors have also recently made changes to their positions in ED. MGO One Seven LLC raised its holdings in shares of Consolidated Edison by 2.1% in the third quarter. MGO One Seven LLC now owns 5,727 shares of the utilities provider’s stock worth $490,000 after buying an additional 119 shares during the last quarter. Advisors Capital Management LLC raised its stake in Consolidated Edison by 3.8% in the 3rd quarter. Advisors Capital Management LLC now owns 3,312 shares of the utilities provider’s stock worth $283,000 after acquiring an additional 122 shares during the last quarter. Jeppson Wealth Management LLC lifted its position in Consolidated Edison by 1.6% during the 4th quarter. Jeppson Wealth Management LLC now owns 7,716 shares of the utilities provider’s stock worth $702,000 after acquiring an additional 125 shares during the period. Sandy Spring Bank grew its stake in Consolidated Edison by 11.4% during the 4th quarter. Sandy Spring Bank now owns 1,222 shares of the utilities provider’s stock valued at $111,000 after purchasing an additional 125 shares during the last quarter. Finally, Dorsey & Whitney Trust CO LLC increased its holdings in shares of Consolidated Edison by 4.9% in the third quarter. Dorsey & Whitney Trust CO LLC now owns 2,764 shares of the utilities provider’s stock valued at $236,000 after purchasing an additional 128 shares during the period. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Price Performance

NYSE:ED opened at $98.11 on Friday. The stock has a market capitalization of $33.93 billion, a PE ratio of 18.83, a price-to-earnings-growth ratio of 8.99 and a beta of 0.34. Consolidated Edison, Inc. has a 52 week low of $80.46 and a 52 week high of $100.08. The company has a quick ratio of 0.92, a current ratio of 0.99 and a debt-to-equity ratio of 1.01. The stock’s 50-day moving average price is $90.84 and its 200-day moving average price is $90.33.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings data on Thursday, May 2nd. The utilities provider reported $2.15 EPS for the quarter, beating the consensus estimate of $1.89 by $0.26. The company had revenue of $4.28 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the company earned $1.83 earnings per share. As a group, equities analysts expect that Consolidated Edison, Inc. will post 5.31 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Wednesday, May 15th will be issued a $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 3.38%. The ex-dividend date of this dividend is Tuesday, May 14th. Consolidated Edison’s payout ratio is presently 63.72%.

Wall Street Analyst Weigh In

A number of research firms recently commented on ED. Scotiabank decreased their target price 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. Royal Bank of Canada dropped their price objective on shares of Consolidated Edison from $94.00 to $93.00 and set a “sector perform” rating on the stock in a report on Friday, February 16th. UBS Group reduced their target price on shares of Consolidated Edison from $99.00 to $94.00 and set a “neutral” rating for the company in a report on Friday, February 16th. Barclays upped their price target on shares of Consolidated Edison from $89.00 to $97.00 and gave the company an “equal weight” rating in a report on Tuesday. Finally, Wells Fargo & Company lifted their price objective 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. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $88.46.

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.