CWA Asset Management Group LLC Acquires 505 Shares of Consolidated Edison Inc (NYSE:ED)

CWA Asset Management Group LLC lifted its holdings in shares of Consolidated Edison Inc (NYSE:ED) by 10.0% in the first quarter, Holdings Channel.com reports. The fund owned 5,553 shares of the utilities provider’s stock after purchasing an additional 505 shares during the quarter. CWA Asset Management Group LLC’s holdings in Consolidated Edison were worth $614,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. OFI Invest Asset Management bought a new position in Consolidated Edison during the 4th quarter valued at about $35,000. Wood Tarver Financial Group LLC bought a new position in Consolidated Edison during the 4th quarter valued at about $35,000. Fairway Wealth LLC bought a new position in Consolidated Edison during the 4th quarter valued at about $36,000. Centricity Wealth Management LLC bought a new position in Consolidated Edison during the 4th quarter valued at about $39,000. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new position in Consolidated Edison during the 4th quarter valued at about $44,000. 66.29% of the stock is owned by institutional investors.

Consolidated Edison Stock Up 0.2%

Shares of NYSE:ED opened at $100.92 on Friday. Consolidated Edison Inc has a one year low of $87.28 and a one year high of $114.87. The company has a 50 day moving average of $106.12 and a 200-day moving average of $100.55. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.28 and a quick ratio of 1.19. The stock has a market cap of $36.36 billion, a price-to-earnings ratio of 18.65, a P/E/G ratio of 3.21 and a beta of 0.27.

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

Consolidated Edison Announces Dividend

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

Analysts Set New Price Targets

Several equities analysts recently issued reports on ED shares. Citigroup lifted their price target on shares of Consolidated Edison from $116.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, April 9th. Wells Fargo & Company boosted their target price on shares of Consolidated Edison from $103.00 to $114.00 and gave the stock an “equal weight” rating in a research note on Friday, May 2nd. UBS Group boosted their target price on shares of Consolidated Edison from $110.00 to $113.00 and gave the stock a “neutral” rating in a research note on Friday, March 21st. Guggenheim boosted their target price on shares of Consolidated Edison from $96.00 to $103.00 and gave the stock a “neutral” rating in a research note on Friday, May 2nd. Finally, Morgan Stanley dropped their target price on shares of Consolidated Edison from $93.00 to $92.00 and set an “underweight” rating for the company in a research note on Wednesday. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $104.18.

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.