ProShare Advisors LLC Buys 246,178 Shares of Consolidated Edison Inc $ED

ProShare Advisors LLC increased its stake in Consolidated Edison Inc (NYSE:ED) by 16.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,749,662 shares of the utilities provider’s stock after buying an additional 246,178 shares during the period. ProShare Advisors LLC’s holdings in Consolidated Edison were worth $175,876,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Salomon & Ludwin LLC raised its stake in shares of Consolidated Edison by 270.4% during the third quarter. Salomon & Ludwin LLC now owns 300 shares of the utilities provider’s stock valued at $30,000 after acquiring an additional 219 shares in the last quarter. Bogart Wealth LLC increased its holdings in Consolidated Edison by 886.5% during the 2nd quarter. Bogart Wealth LLC now owns 365 shares of the utilities provider’s stock worth $37,000 after purchasing an additional 328 shares during the period. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Consolidated Edison during the 3rd quarter valued at $38,000. Webster Bank N. A. lifted its holdings in shares of Consolidated Edison by 67.8% in the 3rd quarter. Webster Bank N. A. now owns 495 shares of the utilities provider’s stock worth $50,000 after buying an additional 200 shares during the period. Finally, True Wealth Design LLC grew its position in shares of Consolidated Edison by 392.1% during the 3rd quarter. True Wealth Design LLC now owns 497 shares of the utilities provider’s stock worth $50,000 after buying an additional 396 shares in the last quarter. 66.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Weiss Ratings restated a “buy (b-)” rating on shares of Consolidated Edison in a report on Monday, December 29th. TD Cowen began coverage on shares of Consolidated Edison in a research note on Friday, January 9th. They set a “hold” rating and a $105.00 price objective on the stock. Morgan Stanley reissued an “underweight” rating and issued a $96.00 price objective on shares of Consolidated Edison in a research note on Wednesday, January 21st. KeyCorp lowered their target price on Consolidated Edison from $90.00 to $86.00 and set an “underweight” rating for the company in a report on Friday, December 12th. Finally, JPMorgan Chase & Co. cut their price target on Consolidated Edison from $101.00 to $97.00 and set an “underweight” rating on the stock in a report on Friday, December 12th. Three analysts have rated the stock with a Buy rating, seven have given a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat, Consolidated Edison currently has an average rating of “Reduce” and an average price target of $104.20.

Insiders Place Their Bets

In other news, Director John F. Killian sold 2,276 shares of the business’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $96.89, for a total transaction of $220,521.64. Following the sale, the director owned 38,661 shares in the company, valued at approximately $3,745,864.29. The trade was a 5.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.17% of the company’s stock.

Consolidated Edison Price Performance

NYSE ED opened at $107.38 on Monday. The firm’s fifty day simple moving average is $100.84 and its two-hundred day simple moving average is $100.31. The firm has a market capitalization of $38.76 billion, a P/E ratio of 18.77, a P/E/G ratio of 2.93 and a beta of 0.38. The company has a current ratio of 1.08, a quick ratio of 0.97 and a debt-to-equity ratio of 1.03. Consolidated Edison Inc has a 12-month low of $93.52 and a 12-month high of $114.87.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings data on Thursday, November 6th. The utilities provider reported $1.90 EPS for the quarter, beating the consensus estimate of $1.76 by $0.14. Consolidated Edison had a return on equity of 8.79% and a net margin of 12.27%.The firm had revenue of $4.53 billion during the quarter, compared to analyst estimates of $4.22 billion. During the same quarter in the prior year, the business posted $1.68 EPS. Analysts forecast that Consolidated Edison Inc will post 5.62 EPS for the current fiscal year.

Consolidated Edison Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Wednesday, February 18th will be paid a $0.8875 dividend. This represents a $3.55 dividend on an annualized basis and a yield of 3.3%. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.85. The ex-dividend date is Wednesday, February 18th. Consolidated Edison’s dividend payout ratio (DPR) is 59.44%.

Consolidated Edison Company Profile

Consolidated Edison, Inc, commonly known as Con Edison, is an investor-owned energy company that primarily delivers electricity, natural gas and steam to customers in the New York metropolitan area. Its regulated utility operations include the distribution and transmission of electric power, the distribution of natural gas, and the operation of one of the largest district steam systems in the United States, serving commercial, institutional and residential customers in New York City and nearby counties.

The company operates through regulated utility subsidiaries that serve urban and suburban service territories, together with non-utility businesses that develop, own and manage energy infrastructure and clean energy projects.