Consolidated Edison, Inc. (NYSE:ED) Shares Purchased by Summit Trail Advisors LLC

Summit Trail Advisors LLC increased its position in shares of Consolidated Edison, Inc. (NYSE:ED) by 7.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,651 shares of the utilities provider’s stock after purchasing an additional 1,700 shares during the period. Summit Trail Advisors LLC’s holdings in Consolidated Edison were worth $2,671,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Capital Performance Advisors LLP acquired a new stake in shares of Consolidated Edison during the 3rd quarter worth approximately $27,000. Ashton Thomas Securities LLC acquired a new stake in Consolidated Edison during the third quarter worth $30,000. Beacon Capital Management LLC increased its stake in Consolidated Edison by 2,307.7% during the first 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 last quarter. Pathway Financial Advisers LLC purchased a new stake in Consolidated Edison in the first quarter valued at $33,000. Finally, TruNorth Capital Management LLC acquired a new position in shares of Consolidated Edison in the 2nd quarter valued at $33,000. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Scotiabank boosted their price objective on shares of Consolidated Edison from $85.00 to $90.00 and gave the company a “sector underperform” rating in a report on Tuesday, August 20th. Wells Fargo & Company increased their price objective on shares of Consolidated Edison from $97.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. Bank of America boosted their target price on Consolidated Edison from $97.00 to $109.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Guggenheim raised their price target on Consolidated Edison from $88.00 to $91.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Finally, UBS Group lifted 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. Four analysts have rated the stock with a sell rating, eight have given a hold rating, two have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $98.19.

Consolidated Edison Stock Down 0.3 %

Shares of NYSE:ED opened at $98.36 on Monday. The stock has a market cap of $34.07 billion, a price-to-earnings ratio of 18.52, a price-to-earnings-growth ratio of 3.31 and a beta of 0.36. The firm’s 50 day moving average price is $102.01 and its 200 day moving average price is $98.09. Consolidated Edison, Inc. has a fifty-two week low of $85.85 and a fifty-two week high of $107.75. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings results on Thursday, November 7th. The utilities provider reported $1.68 earnings per share for the quarter, beating analysts’ consensus estimates of $1.56 by $0.12. The company had revenue of $4.09 billion for the quarter, compared to analysts’ expectations of $4.02 billion. Consolidated Edison had a return on equity of 8.70% and a net margin of 12.27%. As a group, equities research analysts predict that Consolidated Edison, Inc. will post 5.33 earnings per share for the current fiscal 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 issued a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date of this dividend is Wednesday, November 13th. Consolidated Edison’s dividend payout ratio (DPR) is 62.52%.

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.