PFG Investments LLC Raises Stock Position in Consolidated Edison, Inc. (NYSE:ED)

PFG Investments LLC increased its holdings in shares of Consolidated Edison, Inc. (NYSE:ED) by 0.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 62,402 shares of the utilities provider’s stock after purchasing an additional 165 shares during the period. PFG Investments LLC’s holdings in Consolidated Edison were worth $5,580,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Marino Stram & Associates LLC boosted its stake in shares of Consolidated Edison by 0.6% in the first quarter. Marino Stram & Associates LLC now owns 19,623 shares of the utilities provider’s stock valued at $1,782,000 after purchasing an additional 108 shares during the period. Syon Capital LLC increased its position in shares of Consolidated Edison by 2.3% during the fourth quarter. Syon Capital LLC now owns 5,954 shares of the utilities provider’s stock worth $542,000 after acquiring an additional 136 shares during the last quarter. G&S Capital LLC lifted its stake in shares of Consolidated Edison by 1.6% in the first quarter. G&S Capital LLC now owns 8,747 shares of the utilities provider’s stock worth $794,000 after acquiring an additional 139 shares in the last quarter. Checchi Capital Advisers LLC boosted its holdings in Consolidated Edison by 2.6% in the second quarter. Checchi Capital Advisers LLC now owns 5,627 shares of the utilities provider’s stock valued at $503,000 after purchasing an additional 141 shares during the last quarter. Finally, Center For Asset Management LLC grew its stake in Consolidated Edison by 3.5% during the 2nd quarter. Center For Asset Management LLC now owns 4,358 shares of the utilities provider’s stock valued at $390,000 after purchasing an additional 147 shares in the last quarter. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have issued reports on ED shares. Morgan Stanley upped their target price on Consolidated Edison from $75.00 to $82.00 and gave the company an “underweight” rating in a research report on Friday, August 23rd. Argus raised shares of Consolidated Edison to a “strong-buy” rating in a report on Friday, June 7th. Barclays upped their target price on shares of Consolidated Edison from $92.00 to $98.00 and gave the company an “underweight” rating in a research note on Monday, August 5th. Scotiabank boosted their price objective on Consolidated Edison from $85.00 to $90.00 and gave the company a “sector underperform” rating in a report on Tuesday, August 20th. Finally, Guggenheim raised their price objective on Consolidated Edison from $88.00 to $91.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $92.65.

Consolidated Edison Stock Down 0.5 %

ED stock opened at $103.28 on Monday. The firm’s 50-day moving average is $97.19 and its two-hundred day moving average is $93.55. The company has a current ratio of 1.04, a quick ratio of 0.97 and a debt-to-equity ratio of 1.08. The company has a market capitalization of $35.75 billion, a price-to-earnings ratio of 19.82, a price-to-earnings-growth ratio of 3.49 and a beta of 0.36. Consolidated Edison, Inc. has a 52 week low of $80.46 and a 52 week high of $105.99.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.02. The company had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $3.08 billion. Consolidated Edison had a return on equity of 8.67% and a net margin of 12.03%. During the same period last year, the firm earned $0.61 EPS. On average, analysts forecast that Consolidated Edison, Inc. will post 5.31 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Wednesday, August 14th will be paid a $0.83 dividend. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $3.32 annualized dividend and a dividend yield of 3.21%. Consolidated Edison’s dividend payout ratio is currently 63.72%.

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.