2,050 Shares in Consolidated Edison Inc (NYSE:ED) Bought by Ritholtz Wealth Management

Ritholtz Wealth Management acquired a new position in shares of Consolidated Edison Inc (NYSE:ED) during the 1st quarter, Holdings Channel.com reports. The firm acquired 2,050 shares of the utilities provider’s stock, valued at approximately $227,000.

A number of other large investors have also recently added to or reduced their stakes in ED. OFI Invest Asset Management bought a new position in Consolidated Edison during the 4th quarter worth about $35,000. Wood Tarver Financial Group LLC bought a new position in Consolidated Edison during the 4th quarter worth about $35,000. Fairway Wealth LLC bought a new position in Consolidated Edison during the 4th quarter worth about $36,000. Centricity Wealth Management LLC bought a new position in Consolidated Edison during the 4th quarter worth about $39,000. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new position in Consolidated Edison during the 4th quarter worth about $44,000. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Trading Up 0.2%

Consolidated Edison stock opened at $100.92 on Friday. Consolidated Edison Inc has a 52 week low of $87.28 and a 52 week high of $114.87. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.19 and a current ratio of 1.28. The stock has a market capitalization of $36.36 billion, a P/E ratio of 18.65, a PEG ratio of 3.21 and a beta of 0.27. The stock has a 50-day simple moving average of $106.12 and a 200 day simple moving average of $100.55.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings results on Thursday, May 1st. The utilities provider reported $2.25 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.05). The business had revenue of $4.80 billion for the quarter, compared to the consensus estimate of $4.21 billion. Consolidated Edison had a return on equity of 8.61% and a net margin of 11.98%. During the same quarter in the previous year, the business posted $2.15 EPS. Analysts expect that Consolidated Edison Inc will post 5.62 earnings per share for the current year.

Consolidated Edison Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Wednesday, May 14th were given a dividend of $0.85 per share. The ex-dividend date of this dividend was Wednesday, May 14th. This represents a $3.40 annualized dividend and a yield of 3.37%. Consolidated Edison’s dividend payout ratio (DPR) is presently 62.85%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ED. Barclays increased their target price on Consolidated Edison from $100.00 to $101.00 and gave the stock an “underweight” rating in a report on Monday, May 5th. Wells Fargo & Company raised their price objective on Consolidated Edison from $103.00 to $114.00 and gave the company an “equal weight” rating in a report on Friday, May 2nd. Scotiabank raised their price objective on Consolidated Edison from $100.00 to $101.00 and gave the company a “sector perform” rating in a report on Monday, February 24th. UBS Group raised their price objective on Consolidated Edison from $110.00 to $113.00 and gave the company a “neutral” rating in a report on Friday, March 21st. Finally, Morgan Stanley decreased their price objective on Consolidated Edison from $93.00 to $92.00 and set an “underweight” rating for the company in a report on Wednesday. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $104.18.

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.