Consolidated Edison, Inc. (NYSE:ED) Shares Purchased by Kestra Private Wealth Services LLC

Kestra Private Wealth Services LLC grew its position in shares of Consolidated Edison, Inc. (NYSE:ED) by 4.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,184 shares of the utilities provider’s stock after acquiring an additional 242 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Consolidated Edison were worth $563,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of ED. Legal & General Group Plc increased its stake in shares of Consolidated Edison by 0.5% during the third quarter. Legal & General Group Plc now owns 6,201,026 shares of the utilities provider’s stock valued at $530,373,000 after acquiring an additional 27,850 shares during the period. Northern Trust Corp raised its stake in shares of Consolidated Edison by 8.2% in 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 in the last quarter. Morgan Stanley lifted its holdings in shares of Consolidated Edison by 1.8% in the third quarter. Morgan Stanley now owns 4,221,543 shares of the utilities provider’s stock valued at $361,069,000 after buying an additional 72,915 shares during the period. Invesco Ltd. boosted its stake in Consolidated Edison by 4.5% during the third quarter. Invesco Ltd. now owns 2,976,921 shares of the utilities provider’s stock valued at $254,616,000 after buying an additional 129,519 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Consolidated Edison by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,984,449 shares of the utilities provider’s stock worth $169,716,000 after acquiring an additional 26,910 shares during the period. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Price Performance

Shares of NYSE:ED opened at $95.56 on Monday. The firm has a market cap of $33.02 billion, a price-to-earnings ratio of 18.34, a P/E/G ratio of 8.99 and a beta of 0.34. Consolidated Edison, Inc. has a 1 year low of $80.46 and a 1 year high of $100.44. The company has a current ratio of 1.01, a quick ratio of 0.94 and a debt-to-equity ratio of 1.04. The business has a fifty day simple moving average of $90.21 and a 200 day simple moving average of $90.15.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings results on Thursday, May 2nd. The utilities provider reported $2.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.26. The company had revenue of $4.28 billion during the quarter, compared to the consensus estimate of $4.40 billion. Consolidated Edison had a return on equity of 8.86% and a net margin of 12.43%. The business’s quarterly revenue was down 2.8% on a year-over-year basis. During the same period last year, the business earned $1.83 EPS. As a group, sell-side analysts predict that Consolidated Edison, Inc. will post 5.31 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Wednesday, May 15th will be paid a dividend of $0.83 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $3.32 annualized dividend and a dividend yield of 3.47%. Consolidated Edison’s dividend payout ratio (DPR) is 63.72%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on ED shares. UBS Group reduced their price objective on shares of Consolidated Edison from $99.00 to $94.00 and set a “neutral” rating for the company in a research report on Friday, February 16th. Barclays upped their price target on Consolidated Edison from $86.00 to $87.00 and gave the company an “equal weight” rating in a report on Thursday, March 14th. Royal Bank of Canada reduced their price objective on Consolidated Edison from $94.00 to $93.00 and set a “sector perform” rating for the company in a research note on Friday, February 16th. Scotiabank cut their target price on Consolidated Edison from $91.00 to $85.00 and set a “sector underperform” rating on the stock in a research report on Monday, April 22nd. Finally, Wells Fargo & Company upped their target price on Consolidated Edison from $93.00 to $97.00 and gave the company an “equal weight” rating in a report on Friday. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $87.75.

About Consolidated Edison

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.