M Holdings Securities Inc. Buys New Stake in Consolidated Edison Inc $ED

M Holdings Securities Inc. bought a new stake in shares of Consolidated Edison Inc (NYSE:ED) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 9,714 shares of the utilities provider’s stock, valued at approximately $1,100,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. PFS Partners LLC boosted its holdings in Consolidated Edison by 12.2% in the third quarter. PFS Partners LLC now owns 836 shares of the utilities provider’s stock valued at $85,000 after acquiring an additional 91 shares in the last quarter. Cornerstone Financial Management LLC raised its holdings in Consolidated Edison by 43.2% in the 2nd quarter. Cornerstone Financial Management LLC now owns 318 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 96 shares in the last quarter. Charles Schwab Trust Co raised its holdings in Consolidated Edison by 2.3% in the 3rd quarter. Charles Schwab Trust Co now owns 4,400 shares of the utilities provider’s stock worth $450,000 after purchasing an additional 100 shares in the last quarter. Compass Financial Management LLC lifted its position in shares of Consolidated Edison by 18.9% in the 3rd quarter. Compass Financial Management LLC now owns 636 shares of the utilities provider’s stock worth $65,000 after purchasing an additional 101 shares during the period. Finally, SYM FINANCIAL Corp lifted its position in shares of Consolidated Edison by 5.0% in the 3rd quarter. SYM FINANCIAL Corp now owns 2,158 shares of the utilities provider’s stock worth $221,000 after purchasing an additional 102 shares during the period. Institutional investors own 66.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Jefferies Financial Group reaffirmed a “hold” rating and set a $105.00 target price (down from $121.00) on shares of Consolidated Edison in a research note on Tuesday, October 6th. Evercore decreased their price target on shares of Consolidated Edison from $116.00 to $112.00 in a research note on Thursday, October 8th. LADENBURG THALM/SH SH raised their price objective on shares of Consolidated Edison from $101.00 to $113.50 and gave the stock a “neutral” rating in a report on Monday, July 13th. Barclays lifted their price objective on Consolidated Edison from $106.00 to $108.00 and gave the company an “underweight” rating in a research report on Friday. Finally, Mizuho set a $108.00 target price on Consolidated Edison in a report on Wednesday, October 7th. Five analysts have rated the stock with a Buy rating, eight have issued a Hold rating and six have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $109.74.

Consolidated Edison Stock Performance

Shares of Consolidated Edison stock opened at $118.41 on Tuesday. Consolidated Edison Inc has a 12 month low of $94.96 and a 12 month high of $122.75. The firm has a market capitalization of $43.79 billion, a P/E ratio of 20.78, a P/E/G ratio of 4.16 and a beta of 0.23. The company has a current ratio of 1.27, a quick ratio of 1.17 and a debt-to-equity ratio of 1.04. The business has a fifty day simple moving average of $109.14 and a two-hundred day simple moving average of $109.42.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings data on Thursday, November 5th. The utilities provider reported $2.07 EPS for the quarter, topping the consensus estimate of $2.03 by $0.04. The business had revenue of $4.91 billion for the quarter, compared to analyst estimates of $4.75 billion. Consolidated Edison had a net margin of 12.53% and a return on equity of 8.44%. During the same quarter in the previous year, the firm posted $1.90 earnings per share. On average, equities analysts forecast that Consolidated Edison Inc will post 6.10 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

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

Consolidated Edison Profile

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.

The company’s roots trace back to New York Gas Light Company, founded in 1823.