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 its most recent Form 13F filing with the 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 also recently added to or reduced their stakes in ED. Capital Performance Advisors LLP bought a new stake in shares of Consolidated Edison during the 3rd quarter valued at $27,000. Beacon Capital Management LLC increased its stake in Consolidated Edison by 2,307.7% in the 1st quarter. Beacon Capital Management LLC now owns 313 shares of the utilities provider’s stock worth $28,000 after buying an additional 300 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in Consolidated Edison during the third quarter valued at about $30,000. Pathway Financial Advisers LLC purchased a new position in shares of Consolidated Edison in the first quarter valued at about $33,000. Finally, TruNorth Capital Management LLC bought a new position in shares of Consolidated Edison in the second quarter worth about $33,000. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Price Performance

NYSE:ED opened at $98.67 on Friday. The firm has a market capitalization of $34.18 billion, a price-to-earnings ratio of 18.58, a PEG ratio of 3.26 and a beta of 0.36. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93. The business has a 50 day simple moving average of $102.14 and a 200-day simple moving average of $98.06. Consolidated Edison, Inc. has a 1 year low of $85.85 and a 1 year high of $107.75.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Thursday, November 7th. The utilities provider reported $1.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.56 by $0.12. The company had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $4.02 billion. Consolidated Edison had a return on equity of 8.70% and a net margin of 12.27%. Equities analysts forecast that Consolidated Edison, Inc. will post 5.33 EPS for the current year.

Consolidated Edison Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Wednesday, November 13th will be paid a dividend of $0.83 per share. The ex-dividend date is Wednesday, November 13th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.36%. Consolidated Edison’s dividend payout ratio is presently 62.52%.

Analyst Ratings Changes

ED has been the topic of a number of research analyst reports. Guggenheim boosted their price target on Consolidated Edison from $88.00 to $91.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Morgan Stanley upped their target price on shares of Consolidated Edison from $82.00 to $87.00 and gave the stock an “underweight” rating in a research report on Wednesday, September 25th. Wells Fargo & Company lifted their price target on shares of Consolidated Edison from $97.00 to $105.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. Barclays dropped their price objective on shares of Consolidated Edison from $104.00 to $99.00 and set an “underweight” rating for the company in a report on Friday, November 8th. Finally, Evercore ISI raised Consolidated Edison from a “hold” rating to a “strong-buy” rating in a report on Friday, November 8th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $98.35.

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.