Onyx Bridge Wealth Group LLC Has $896,000 Stock Position in Consolidated Edison, Inc. (NYSE:ED)

Onyx Bridge Wealth Group LLC lifted its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 9.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 9,854 shares of the utilities provider’s stock after buying an additional 818 shares during the period. Onyx Bridge Wealth Group LLC’s holdings in Consolidated Edison were worth $896,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Geode Capital Management LLC grew its holdings in shares of Consolidated Edison by 2.0% during the 1st quarter. Geode Capital Management LLC now owns 7,949,371 shares of the utilities provider’s stock worth $761,387,000 after purchasing an additional 154,945 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Consolidated Edison by 0.5% during the 3rd quarter. Legal & General Group Plc now owns 6,201,026 shares of the utilities provider’s stock worth $530,373,000 after buying an additional 27,850 shares during the last quarter. Northern Trust Corp lifted its position in shares of Consolidated Edison by 8.2% during the 3rd quarter. Northern Trust Corp now owns 4,484,026 shares of the utilities provider’s stock worth $383,519,000 after buying an additional 340,239 shares during the last quarter. Morgan Stanley lifted its position in shares of Consolidated Edison by 1.8% during the 3rd quarter. Morgan Stanley now owns 4,221,543 shares of the utilities provider’s stock worth $361,069,000 after buying an additional 72,915 shares during the last quarter. Finally, Moneta Group Investment Advisors LLC lifted its position in shares of Consolidated Edison by 89,231.2% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 4,145,861 shares of the utilities provider’s stock worth $395,142,000 after buying an additional 4,141,220 shares during the last quarter. 66.29% of the stock is owned by institutional investors and hedge funds.

Consolidated Edison Trading Up 1.0 %

Shares of ED traded up $0.87 during mid-day trading on Friday, reaching $91.77. 7,395,271 shares of the company were exchanged, compared to its average volume of 1,871,028. Consolidated Edison, Inc. has a 52 week low of $80.46 and a 52 week high of $100.92. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.94 and a current ratio of 1.01. The stock has a market capitalization of $31.71 billion, a PE ratio of 12.78, a PEG ratio of 8.52 and a beta of 0.35. The business has a 50 day simple moving average of $88.97 and a two-hundred day simple moving average of $89.62.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings data on Thursday, February 15th. The utilities provider reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.02. Consolidated Edison had a return on equity of 8.41% and a net margin of 17.19%. The company had revenue of $3.44 billion during the quarter, compared to the consensus estimate of $3.70 billion. During the same period last year, the company earned $0.81 earnings per share. The firm’s revenue was down 14.6% compared to the same quarter last year. On average, analysts predict that Consolidated Edison, Inc. will post 5.3 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Wednesday, May 15th will be given a dividend of $0.83 per share. The ex-dividend date is Tuesday, May 14th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.62%. Consolidated Edison’s dividend payout ratio (DPR) is 46.24%.

Analyst Upgrades and Downgrades

ED has been the subject of several recent analyst reports. UBS Group dropped their price objective on Consolidated Edison from $99.00 to $94.00 and set a “neutral” rating for the company in a research report on Friday, February 16th. Scotiabank upped their price objective on Consolidated Edison from $90.00 to $91.00 and gave the stock a “sector underperform” rating in a research report on Tuesday, February 20th. LADENBURG THALM/SH SH began coverage on Consolidated Edison in a research report on Wednesday, January 3rd. They set a “neutral” rating and a $92.50 price objective for the company. Royal Bank of Canada dropped their target price on Consolidated Edison from $94.00 to $93.00 and set a “sector perform” rating for the company in a research report on Friday, February 16th. Finally, KeyCorp upgraded Consolidated Edison from an “underweight” rating to a “sector weight” rating in a research report on Thursday, January 4th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $87.96.

Consolidated Edison Company 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.