CWA Asset Management Group LLC Buys Shares of 5,413 Consolidated Edison, Inc. (NYSE:ED)

CWA Asset Management Group LLC acquired a new stake in Consolidated Edison, Inc. (NYSE:ED - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 5,413 shares of the utilities provider's stock, valued at approximately $564,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Capital Performance Advisors LLP acquired a new stake in shares of Consolidated Edison in the third quarter valued at approximately $27,000. Beacon Capital Management LLC grew its position in Consolidated Edison by 2,307.7% during the first quarter. Beacon Capital Management LLC now owns 313 shares of the utilities provider's stock worth $28,000 after buying an additional 300 shares in the last quarter. Pathway Financial Advisers LLC acquired a new stake in Consolidated Edison during the first quarter valued at approximately $33,000. TruNorth Capital Management LLC acquired a new stake in shares of Consolidated Edison in the second quarter valued at $33,000. Finally, Versant Capital Management Inc boosted its holdings in 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 acquiring an additional 327 shares during the last quarter. Hedge funds and other institutional investors own 66.29% of the company's stock.

Consolidated Edison Stock Performance

NYSE:ED traded down $1.44 during trading on Tuesday, reaching $97.04. The company's stock had a trading volume of 2,597,903 shares, compared to its average volume of 1,866,147. Consolidated Edison, Inc. has a 12 month low of $85.85 and a 12 month high of $107.75. The firm has a market cap of $33.62 billion, a price-to-earnings ratio of 18.55, a price-to-earnings-growth ratio of 3.31 and a beta of 0.36. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.97 and a current ratio of 1.04. The firm has a 50 day moving average of $103.29 and a 200-day moving average of $97.99.

Consolidated Edison (NYSE:ED - Get Free Report) last announced its earnings results on Thursday, November 7th. The utilities provider reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.56 by $0.12. The firm had revenue of $4.09 billion during the quarter, compared to analyst estimates of $4.02 billion. Consolidated Edison had a return on equity of 8.75% and a net margin of 12.27%. Research analysts expect that Consolidated Edison, Inc. will post 5.33 EPS 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. Shareholders of record on Wednesday, November 13th will be given a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 3.42%. The ex-dividend date is Wednesday, November 13th. Consolidated Edison's payout ratio is 62.52%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ED. Guggenheim increased their price target on Consolidated Edison from $88.00 to $91.00 and gave the stock a "neutral" rating in a research report on Friday, August 2nd. Wells Fargo & Company lifted their price target on Consolidated Edison from $97.00 to $105.00 and gave the company an "equal weight" rating in a research note on Friday, August 2nd. Bank of America boosted their target price on Consolidated Edison from $97.00 to $109.00 and gave the company a "buy" rating in a research note on Monday, August 5th. Evercore ISI upgraded shares of Consolidated Edison from a "hold" rating to a "strong-buy" rating in a research report on Friday. Finally, Barclays cut their target price on Consolidated Edison from $104.00 to $99.00 and set an "underweight" rating on the stock in a research note on Friday. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $98.35.

About Consolidated Edison

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.