Consolidated Edison, Inc. (NYSE:ED) Shares Acquired by Tectonic Advisors LLC

Tectonic Advisors LLC increased its holdings in Consolidated Edison, Inc. (NYSE:ED - Free Report) by 14.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 56,651 shares of the utilities provider's stock after acquiring an additional 7,152 shares during the quarter. Tectonic Advisors LLC's holdings in Consolidated Edison were worth $5,899,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Beacon Capital Management LLC increased its holdings in shares of Consolidated Edison by 2,307.7% during the first quarter. Beacon Capital Management LLC now owns 313 shares of the utilities provider's stock valued at $28,000 after acquiring an additional 300 shares in the last quarter. Pathway Financial Advisers LLC purchased a new position in Consolidated Edison in the first quarter worth about $33,000. TruNorth Capital Management LLC purchased a new position in shares of Consolidated Edison during the 2nd quarter valued at about $33,000. Versant Capital Management Inc lifted its position in shares of Consolidated Edison by 380.2% during the 2nd quarter. Versant Capital Management Inc now owns 413 shares of the utilities provider's stock valued at $37,000 after buying an additional 327 shares in the last quarter. Finally, Future Financial Wealth Managment LLC purchased a new position in shares of Consolidated Edison during the 1st quarter valued at about $48,000. Institutional investors own 66.29% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on ED shares. Scotiabank lifted their target price on Consolidated Edison from $85.00 to $90.00 and gave the company a "sector underperform" rating in a research note on Tuesday, August 20th. Wells Fargo & Company boosted their target price on Consolidated Edison from $97.00 to $105.00 and gave the company an "equal weight" rating in a research report on Friday, August 2nd. Bank of America boosted their price objective on Consolidated Edison from $97.00 to $109.00 and gave the company a "buy" rating in a report on Monday, August 5th. Citigroup upgraded Consolidated Edison from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $103.00 to $116.00 in a report on Tuesday, October 15th. Finally, UBS Group boosted their price objective on Consolidated Edison from $105.00 to $106.00 and gave the company a "neutral" rating in a report on Friday, September 20th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $98.73.

Consolidated Edison Stock Down 2.2 %

Shares of ED stock traded down $2.40 during mid-day trading on Friday, hitting $104.60. The stock had a trading volume of 1,734,244 shares, compared to its average volume of 1,832,982. Consolidated Edison, Inc. has a 12-month low of $85.85 and a 12-month high of $107.75. The firm has a market capitalization of $36.17 billion, a P/E ratio of 20.08, a price-to-earnings-growth ratio of 3.46 and a beta of 0.36. The firm's 50-day moving average is $103.26 and its two-hundred day moving average is $97.05. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.04 and a quick ratio of 0.97.

Consolidated Edison (NYSE:ED - Get Free Report) last issued its earnings results on Thursday, August 1st. The utilities provider reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.02. The business had revenue of $3.22 billion during the quarter, compared to analysts' expectations of $3.08 billion. Consolidated Edison had a return on equity of 8.67% and a net margin of 12.03%. During the same period in the prior year, the business earned $0.61 EPS. On average, analysts predict that Consolidated Edison, Inc. will post 5.3 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Wednesday, November 13th will be given a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 3.17%. The ex-dividend date is Wednesday, November 13th. Consolidated Edison's payout ratio is 63.72%.

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.