2,200 Shares in Consolidated Edison Inc (NYSE:ED) Bought by Evanson Asset Management LLC

Evanson Asset Management LLC acquired a new position in shares of Consolidated Edison Inc (NYSE:ED) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 2,200 shares of the utilities provider’s stock, valued at approximately $243,000.

Other hedge funds have also added to or reduced their stakes in the company. OFI Invest Asset Management acquired a new stake in Consolidated Edison during the 4th quarter worth $35,000. Wood Tarver Financial Group LLC acquired a new stake in shares of Consolidated Edison in the 4th quarter valued at about $35,000. Fairway Wealth LLC acquired a new stake in shares of Consolidated Edison in the 4th quarter valued at about $36,000. Centricity Wealth Management LLC acquired a new stake in shares of Consolidated Edison in the 4th quarter valued at about $39,000. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of Consolidated Edison in the 4th quarter valued at about $44,000. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Price Performance

NYSE:ED opened at $100.92 on Friday. Consolidated Edison Inc has a 52-week low of $87.28 and a 52-week high of $114.87. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.19 and a current ratio of 1.28. The company has a market cap of $36.36 billion, a P/E ratio of 18.65, a P/E/G ratio of 3.21 and a beta of 0.27. The stock’s 50-day simple moving average is $106.12 and its 200 day simple moving average is $100.55.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings results on Thursday, May 1st. The utilities provider reported $2.25 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.05). Consolidated Edison had a return on equity of 8.61% and a net margin of 11.98%. The business had revenue of $4.80 billion for the quarter, compared to the consensus estimate of $4.21 billion. During the same quarter in the previous year, the business posted $2.15 EPS. As a group, sell-side analysts forecast that Consolidated Edison Inc will post 5.62 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Wednesday, May 14th were issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date was Wednesday, May 14th. Consolidated Edison’s payout ratio is currently 62.85%.

Analyst Ratings Changes

ED has been the topic of several recent research reports. Wells Fargo & Company lifted their price target on Consolidated Edison from $103.00 to $114.00 and gave the company an “equal weight” rating in a research note on Friday, May 2nd. Barclays lifted their price target on Consolidated Edison from $100.00 to $101.00 and gave the company an “underweight” rating in a research note on Monday, May 5th. UBS Group lifted their price target on Consolidated Edison from $110.00 to $113.00 and gave the company a “neutral” rating in a research note on Friday, March 21st. Scotiabank lifted their price target on Consolidated Edison from $100.00 to $101.00 and gave the company a “sector perform” rating in a research note on Monday, February 24th. Finally, Citigroup lifted their price target on Consolidated Edison from $116.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday, April 9th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Consolidated Edison has a consensus rating of “Hold” and a consensus price target of $104.18.

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.