Cetera Advisor Networks LLC increased its holdings in shares of Consolidated Edison, Inc. (NYSE:ED – Get Rating) by 5.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,829 shares of the utilities provider’s stock after buying an additional 2,502 shares during the quarter. Cetera Advisor Networks LLC’s holdings in Consolidated Edison were worth $4,454,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Private Capital Group LLC grew its stake in Consolidated Edison by 327.6% in the second quarter. Private Capital Group LLC now owns 325 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 249 shares in the last quarter. San Luis Wealth Advisors LLC acquired a new position in Consolidated Edison in the 1st quarter valued at approximately $32,000. Wellington Shields Capital Management LLC bought a new stake in shares of Consolidated Edison in the 1st quarter valued at approximately $36,000. Wagner Wealth Management LLC bought a new stake in shares of Consolidated Edison in the 2nd quarter valued at approximately $41,000. Finally, Capital Analysts LLC grew its stake in shares of Consolidated Edison by 139.3% in the 1st quarter. Capital Analysts LLC now owns 457 shares of the utilities provider’s stock valued at $43,000 after purchasing an additional 266 shares during the period. Hedge funds and other institutional investors own 64.76% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research firms recently commented on ED. Morgan Stanley increased their price target on Consolidated Edison from $68.00 to $73.00 and gave the stock an “underweight” rating in a research report on Friday, November 11th. KeyCorp decreased their price objective on Consolidated Edison from $75.00 to $69.00 and set an “underweight” rating on the stock in a research report on Thursday, October 20th. UBS Group increased their price objective on Consolidated Edison to $96.00 in a research report on Monday. Mizuho decreased their price objective on Consolidated Edison from $99.00 to $91.00 and set a “buy” rating on the stock in a research report on Monday, October 3rd. Finally, Credit Suisse Group decreased their price objective on Consolidated Edison from $94.00 to $82.00 in a research report on Monday, October 10th. Four research analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, Consolidated Edison currently has a consensus rating of “Hold” and an average target price of $83.55.
Consolidated Edison Stock Performance
Consolidated Edison Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Wednesday, November 16th will be paid a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 3.27%. The ex-dividend date of this dividend is Tuesday, November 15th. Consolidated Edison’s dividend payout ratio (DPR) is currently 66.25%.
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 3.5 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 1,555 customers in parts of Manhattan.
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