Greenleaf Trust Has $848,000 Stake in Consolidated Edison, Inc. (NYSE:ED)

Greenleaf Trust boosted its holdings in shares of Consolidated Edison, Inc. (NYSE:ED) by 17.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,147 shares of the utilities provider’s stock after buying an additional 1,215 shares during the quarter. Greenleaf Trust’s holdings in Consolidated Edison were worth $848,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of ED. Beacon Capital Management LLC grew its position in shares of Consolidated Edison by 2,307.7% in the first quarter. Beacon Capital Management LLC now owns 313 shares of the utilities provider’s stock valued at $28,000 after purchasing an additional 300 shares during the last quarter. Pathway Financial Advisers LLC acquired a new stake in shares of Consolidated Edison in the first quarter valued at about $33,000. TruNorth Capital Management LLC acquired a new stake in shares of Consolidated Edison in the second quarter valued at about $33,000. Versant Capital Management Inc grew its position in shares of Consolidated Edison by 380.2% in the second quarter. Versant Capital Management Inc now owns 413 shares of the utilities provider’s stock valued at $37,000 after purchasing an additional 327 shares during the last quarter. Finally, Future Financial Wealth Managment LLC acquired a new stake in shares of Consolidated Edison in the first quarter valued at about $48,000. 66.29% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ED has been the topic of several research analyst reports. Bank of America raised their price target on Consolidated Edison from $97.00 to $109.00 and gave the company a “buy” rating in a research report on Monday, August 5th. UBS Group lifted their target price on Consolidated Edison from $105.00 to $106.00 and gave the stock a “neutral” rating in a research report on Friday, September 20th. Barclays lifted their target price on Consolidated Edison from $98.00 to $104.00 and gave the stock an “underweight” rating in a research report on Monday. Wells Fargo & Company lifted their target price 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. Finally, Jefferies Financial Group initiated coverage on Consolidated Edison in a research report on Wednesday, October 9th. They set a “hold” rating and a $108.00 target price on the stock. Four analysts have rated the stock with a sell rating, eight have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $98.73.

Consolidated Edison Stock Performance

Shares of Consolidated Edison stock opened at $107.00 on Friday. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.04 and a quick ratio of 0.97. The firm has a market cap of $37.00 billion, a P/E ratio of 20.54, a P/E/G ratio of 3.46 and a beta of 0.36. The firm has a 50 day simple moving average of $103.10 and a 200 day simple moving average of $96.98. Consolidated Edison, Inc. has a fifty-two week low of $85.85 and a fifty-two week high of $107.75.

Consolidated Edison (NYSE:ED) last released its earnings results on Thursday, August 1st. The utilities provider reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. Consolidated Edison had a net margin of 12.03% and a return on equity of 8.67%. The firm had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.08 billion. During the same quarter in the previous year, the business earned $0.61 EPS. Sell-side analysts predict that Consolidated Edison, Inc. will post 5.3 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Wednesday, November 13th will be issued a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 3.10%. The ex-dividend date is Wednesday, November 13th. Consolidated Edison’s dividend payout ratio (DPR) is 63.72%.

Consolidated Edison 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.