Fifth Third Wealth Advisors LLC Acquires 799 Shares of Consolidated Edison, Inc. (NYSE:ED)

Fifth Third Wealth Advisors LLC grew its holdings in shares of Consolidated Edison, Inc. (NYSE:ED) by 28.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,616 shares of the utilities provider’s stock after purchasing an additional 799 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in Consolidated Edison were worth $377,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of ED. Capital Performance Advisors LLP acquired a new position in Consolidated Edison during the third quarter valued at approximately $27,000. Beacon Capital Management LLC boosted its holdings in shares of Consolidated Edison by 2,307.7% during the 1st quarter. Beacon Capital Management LLC now owns 313 shares of the utilities provider’s stock worth $28,000 after buying an additional 300 shares during the period. Ashton Thomas Securities LLC acquired a new position in Consolidated Edison in the 3rd quarter valued at $30,000. Pathway Financial Advisers LLC bought a new position in Consolidated Edison in the 1st quarter worth $33,000. Finally, TruNorth Capital Management LLC acquired a new position in Consolidated Edison during the 2nd quarter worth $33,000. Institutional investors and hedge funds own 66.29% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on ED shares. Scotiabank raised their price target on Consolidated Edison from $85.00 to $90.00 and gave the company a “sector underperform” rating in a research report on Tuesday, August 20th. Wells Fargo & Company lifted their price target on Consolidated Edison from $97.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. Citigroup raised Consolidated Edison from a “neutral” rating to a “buy” rating and increased their price objective for the company from $103.00 to $116.00 in a research report on Tuesday, October 15th. Guggenheim boosted their target price on shares of Consolidated Edison from $88.00 to $91.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Finally, Morgan Stanley increased their price target on shares of Consolidated Edison from $82.00 to $87.00 and gave the company an “underweight” rating in a report on Wednesday, September 25th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating, two have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $98.35.

Consolidated Edison Trading Up 0.8 %

Shares of NYSE ED opened at $98.67 on Friday. Consolidated Edison, Inc. has a twelve month low of $85.85 and a twelve month high of $107.75. The stock has a market cap of $34.18 billion, a price-to-earnings ratio of 18.58, a P/E/G ratio of 3.26 and a beta of 0.36. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07. The company’s fifty day moving average is $102.14 and its 200-day moving average is $98.06.

Consolidated Edison (NYSE:ED) last posted its earnings results on Thursday, November 7th. The utilities provider reported $1.68 earnings per share for the quarter, topping the consensus estimate of $1.56 by $0.12. Consolidated Edison had a return on equity of 8.70% and a net margin of 12.27%. The firm had revenue of $4.09 billion for the quarter, compared to analyst estimates of $4.02 billion. Equities research analysts predict that Consolidated Edison, Inc. will post 5.33 EPS for the current year.

Consolidated Edison Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Wednesday, November 13th will be paid a dividend of $0.83 per share. The ex-dividend date is Wednesday, November 13th. This represents a $3.32 dividend on an annualized basis and a yield of 3.36%. Consolidated Edison’s payout ratio is 62.52%.

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.