6,935 Shares in Consolidated Edison Inc (NYSE:ED) Purchased by Aurora Private Wealth Inc.

Aurora Private Wealth Inc. purchased a new stake in Consolidated Edison Inc (NYSE:ED) during the first quarter, according to its most recent disclosure with the SEC. The firm purchased 6,935 shares of the utilities provider’s stock, valued at approximately $767,000.

Several other institutional investors also recently bought and sold shares of ED. Merit Financial Group LLC lifted its position in shares of Consolidated Edison by 16.8% in the first quarter. Merit Financial Group LLC now owns 10,666 shares of the utilities provider’s stock valued at $1,180,000 after acquiring an additional 1,533 shares in the last quarter. Jones Financial Companies Lllp raised its stake in Consolidated Edison by 81.4% in the 4th quarter. Jones Financial Companies Lllp now owns 9,921 shares of the utilities provider’s stock valued at $885,000 after purchasing an additional 4,451 shares during the last quarter. Ritholtz Wealth Management purchased a new position in Consolidated Edison in the 1st quarter valued at $227,000. Wealth Enhancement Advisory Services LLC lifted its holdings in Consolidated Edison by 2.8% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 250,014 shares of the utilities provider’s stock valued at $27,649,000 after purchasing an additional 6,869 shares in the last quarter. Finally, Orion Portfolio Solutions LLC boosted its stake in Consolidated Edison by 22.2% during the 4th quarter. Orion Portfolio Solutions LLC now owns 7,516 shares of the utilities provider’s stock worth $671,000 after purchasing an additional 1,366 shares during the last quarter. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Consolidated Edison Stock Performance

Shares of Consolidated Edison stock opened at $98.03 on Thursday. The firm has a market cap of $35.32 billion, a PE ratio of 18.12, a price-to-earnings-growth ratio of 3.20 and a beta of 0.27. The company has a quick ratio of 1.19, a current ratio of 1.28 and a debt-to-equity ratio of 1.04. Consolidated Edison Inc has a 52 week low of $87.28 and a 52 week high of $114.87. The business’s fifty day simple moving average is $105.40 and its 200-day simple moving average is $100.63.

Consolidated Edison (NYSE:ED) last posted its 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 net margin of 11.98% and a return on equity of 8.61%. The company had revenue of $4.80 billion during the quarter, compared to analyst estimates of $4.21 billion. During the same period in the previous year, the company earned $2.15 EPS. Equities analysts forecast that Consolidated Edison Inc will post 5.62 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Wednesday, May 14th were given a dividend of $0.85 per share. The ex-dividend date of this dividend was Wednesday, May 14th. This represents a $3.40 annualized dividend and a dividend yield of 3.47%. Consolidated Edison’s dividend payout ratio is currently 62.85%.

Analyst Ratings Changes

A number of brokerages have recently commented on ED. UBS Group increased their target price on shares of Consolidated Edison from $110.00 to $113.00 and gave the company a “neutral” rating in a research report on Friday, March 21st. Guggenheim increased their price objective on shares of Consolidated Edison from $96.00 to $103.00 and gave the company a “neutral” rating in a report on Friday, May 2nd. Barclays boosted their target price on Consolidated Edison from $100.00 to $101.00 and gave the stock an “underweight” rating in a report on Monday, May 5th. Wells Fargo & Company upped their price target on Consolidated Edison from $103.00 to $114.00 and gave the company an “equal weight” rating in a research report on Friday, May 2nd. Finally, KeyCorp downgraded Consolidated Edison from a “sector weight” rating to an “underweight” rating and set a $90.00 price objective on the stock. in a research report on Wednesday, May 14th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average 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.