Mission Wealth Management LP Grows Position in Consolidated Edison, Inc. (NYSE:ED)

Mission Wealth Management LP boosted its stake in Consolidated Edison, Inc. (NYSE:ED) by 24.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,589 shares of the utilities provider’s stock after buying an additional 1,111 shares during the period. Mission Wealth Management LP’s holdings in Consolidated Edison were worth $508,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Xponance Inc. grew its stake in shares of Consolidated Edison by 9.0% in the third quarter. Xponance Inc. now owns 53,525 shares of the utilities provider’s stock valued at $4,578,000 after buying an additional 4,419 shares in the last quarter. Dakota Wealth Management acquired a new position in Consolidated Edison in the 3rd quarter valued at about $617,000. FinTrust Capital Advisors LLC lifted its position in shares of Consolidated Edison by 13.0% during the third quarter. FinTrust Capital Advisors LLC now owns 1,579 shares of the utilities provider’s stock worth $135,000 after purchasing an additional 182 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in shares of Consolidated Edison by 6.5% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 110,604 shares of the utilities provider’s stock valued at $9,460,000 after purchasing an additional 6,715 shares during the period. Finally, Stratos Wealth Partners LTD. grew its holdings in shares of Consolidated Edison by 43.2% in the third quarter. Stratos Wealth Partners LTD. now owns 9,764 shares of the utilities provider’s stock valued at $835,000 after purchasing an additional 2,944 shares in the last quarter. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Trading Up 0.5 %

Shares of Consolidated Edison stock opened at $95.25 on Friday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.94 and a current ratio of 1.01. The company has a market capitalization of $32.91 billion, a P/E ratio of 13.27, a PEG ratio of 8.92 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’s fifty day moving average is $90.06 and its two-hundred day moving average is $90.08.

Consolidated Edison (NYSE:ED) last released its quarterly earnings results on Thursday, February 15th. The utilities provider reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.02. The firm had revenue of $3.44 billion for the quarter, compared to analyst estimates of $3.70 billion. Consolidated Edison had a return on equity of 8.41% and a net margin of 17.19%. The business’s revenue was down 14.6% on a year-over-year basis. During the same quarter last year, the company posted $0.81 earnings per share. Analysts forecast that Consolidated Edison, Inc. will post 5.31 earnings per share for the current year.

Consolidated Edison Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Wednesday, May 15th will be issued a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 3.49%. The ex-dividend date of this dividend is Tuesday, May 14th. Consolidated Edison’s payout ratio is 46.24%.

Analyst Upgrades and Downgrades

ED has been the topic of several recent research reports. Barclays upped their price target on Consolidated Edison from $86.00 to $87.00 and gave the stock an “equal weight” rating in a report on Thursday, March 14th. Royal Bank of Canada decreased their price target on shares of 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. UBS Group dropped their price objective on shares of Consolidated Edison from $99.00 to $94.00 and set a “neutral” rating on the stock in a research report on Friday, February 16th. Scotiabank decreased their price objective on shares of Consolidated Edison from $91.00 to $85.00 and set a “sector underperform” rating for the company in a research report on Monday, April 22nd. Finally, KeyCorp upgraded shares of Consolidated Edison from an “underweight” rating to a “sector weight” rating in a research note on Thursday, January 4th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $87.54.

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.