Ascentis Independent Advisors Acquires 11,807 Shares of Consolidated Edison Inc $ED

Ascentis Independent Advisors lifted its holdings in Consolidated Edison Inc (NYSE:ED) by 204.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 17,568 shares of the utilities provider’s stock after buying an additional 11,807 shares during the quarter. Ascentis Independent Advisors’ holdings in Consolidated Edison were worth $1,988,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. JPL Wealth Management LLC bought a new position in Consolidated Edison in the 3rd quarter valued at $26,000. Basepoint Wealth LLC bought a new position in Consolidated Edison in the fourth quarter worth approximately $26,000. Aventura Private Wealth LLC bought a new position in shares of Consolidated Edison in the 4th quarter worth $27,000. Westfuller Advisors LLC purchased a new stake in shares of Consolidated Edison during the fourth quarter valued at about $27,000. Finally, Dorato Capital Management purchased a new stake in Consolidated Edison during the fourth quarter valued at approximately $28,000. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Consolidated Edison Trading Down 1.7%

Shares of ED opened at $112.02 on Tuesday. Consolidated Edison Inc has a 52-week low of $94.96 and a 52-week high of $116.23. The stock has a market cap of $41.28 billion, a PE ratio of 18.86, a price-to-earnings-growth ratio of 2.89 and a beta of 0.27. The firm’s fifty day moving average is $107.88 and its two-hundred day moving average is $107.77. The company has a quick ratio of 1.09, a current ratio of 1.19 and a debt-to-equity ratio of 1.00.

Consolidated Edison Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Wednesday, May 13th were paid a dividend of $0.8875 per share. This represents a $3.55 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend was Wednesday, May 13th. Consolidated Edison’s dividend payout ratio is currently 59.76%.

Analyst Ratings Changes

ED has been the subject of a number of research analyst reports. Wells Fargo & Company set a $98.00 price target on Consolidated Edison in a research note on Tuesday, April 21st. Argus set a $112.00 target price on Consolidated Edison in a report on Tuesday, June 23rd. KeyCorp increased their price target on shares of Consolidated Edison from $96.00 to $97.00 and gave the stock an “underweight” rating in a report on Tuesday, April 21st. The Goldman Sachs Group restated a “sell” rating and set a $105.00 price target on shares of Consolidated Edison in a research report on Thursday, May 14th. Finally, Evercore set a $116.00 price objective on shares of Consolidated Edison in a report on Monday, May 11th. Two equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and six have assigned a Sell rating to the company. According to data from MarketBeat, Consolidated Edison has an average rating of “Reduce” and an average price target of $108.07.

Consolidated Edison Profile

Consolidated Edison, Inc, commonly known as Con Edison, is an investor-owned energy company that primarily delivers electricity, natural gas and steam to customers in the New York metropolitan area. Its regulated utility operations include the distribution and transmission of electric power, the distribution of natural gas, and the operation of one of the largest district steam systems in the United States, serving commercial, institutional and residential customers in New York City and nearby counties.

The company operates through regulated utility subsidiaries that serve urban and suburban service territories, together with non-utility businesses that develop, own and manage energy infrastructure and clean energy projects.