StoneX Group Inc. Buys 5,939 Shares of Consolidated Edison Inc $ED

StoneX Group Inc. lifted its stake in shares of Consolidated Edison Inc (NYSE:ED) by 224.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,587 shares of the utilities provider’s stock after purchasing an additional 5,939 shares during the period. StoneX Group Inc.’s holdings in Consolidated Edison were worth $887,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Activest Wealth Management increased its holdings in shares of Consolidated Edison by 77.3% in the 3rd quarter. Activest Wealth Management now owns 250 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 109 shares during the last quarter. Aberdeen Wealth Management LLC bought a new position in Consolidated Edison in the second quarter worth about $27,000. Keating Financial Advisory Services Inc. bought a new position in Consolidated Edison in the second quarter worth about $30,000. GoalVest Advisory LLC boosted its stake in Consolidated Edison by 80.0% in the third quarter. GoalVest Advisory LLC now owns 306 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 136 shares during the period. Finally, Westside Investment Management Inc. boosted its stake in Consolidated Edison by 155.6% in the third quarter. Westside Investment Management Inc. now owns 317 shares of the utilities provider’s stock valued at $33,000 after acquiring an additional 193 shares during the period. Institutional investors own 66.29% of the company’s stock.

Analyst Ratings Changes

ED has been the subject of several recent research reports. JPMorgan Chase & Co. lowered their target price on Consolidated Edison from $115.00 to $112.00 and set an “underweight” rating for the company in a report on Wednesday, August 19th. Mizuho set a $108.00 price target on Consolidated Edison in a report on Wednesday, October 7th. HSBC began coverage on Consolidated Edison in a research report on Thursday, October 22nd. They set a “hold” rating and a $104.00 price objective for the company. Weiss Ratings restated a “buy (b)” rating on shares of Consolidated Edison in a research note on Monday, October 19th. Finally, Jefferies Financial Group restated a “hold” rating and set a $105.00 price objective (down from $121.00) on shares of Consolidated Edison in a research note on Tuesday, October 6th. Five analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and six have given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus price target of $109.74.

Consolidated Edison Stock Up 0.7%

Shares of Consolidated Edison stock opened at $119.22 on Wednesday. The business’s fifty day moving average price is $109.38 and its two-hundred day moving average price is $109.50. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.18 and a quick ratio of 1.07. The company has a market capitalization of $44.25 billion, a P/E ratio of 19.08, a PEG ratio of 4.10 and a beta of 0.23. Consolidated Edison Inc has a 1-year low of $94.96 and a 1-year high of $122.75.

Consolidated Edison (NYSE:ED) last released its quarterly earnings results on Thursday, November 5th. The utilities provider reported $2.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.04. Consolidated Edison had a return on equity of 8.58% and a net margin of 12.70%. The company had revenue of $4.91 billion during the quarter, compared to analysts’ expectations of $4.75 billion. During the same quarter in the prior year, the business posted $1.90 earnings per share. As a group, research analysts forecast that Consolidated Edison Inc will post 6.10 EPS for the current year.

Consolidated Edison Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Wednesday, November 18th will be issued a $0.8875 dividend. The ex-dividend date of this dividend is Wednesday, November 18th. This represents a $3.55 annualized dividend and a yield of 3.0%. Consolidated Edison’s dividend payout ratio is presently 56.80%.

About Consolidated Edison

Consolidated Edison, Inc. is an energy holding company whose principal business is delivering electricity, natural gas and steam through regulated utility subsidiaries. Its services include generating, transmitting and distributing energy to residential, commercial and industrial customers. Its largest subsidiary, Consolidated Edison Company of New York, serves customers in New York City and Westchester County. Orange and Rockland Utilities serves parts of southeastern New York and northern New Jersey.