Consolidated Edison, Inc. (NYSE:ED) Shares Acquired by Pathway Financial Advisers LLC

Pathway Financial Advisers LLC raised its position in Consolidated Edison, Inc. (NYSE:ED - Free Report) by 10,302.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,446 shares of the utilities provider's stock after purchasing an additional 24,211 shares during the quarter. Pathway Financial Advisers LLC's holdings in Consolidated Edison were worth $2,546,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Brookstone Capital Management boosted its stake in shares of Consolidated Edison by 4.3% in the first quarter. Brookstone Capital Management now owns 24,010 shares of the utilities provider's stock valued at $2,180,000 after purchasing an additional 981 shares during the period. 180 Wealth Advisors LLC grew its stake in shares of Consolidated Edison by 6.0% in the first quarter. 180 Wealth Advisors LLC now owns 4,682 shares of the utilities provider's stock worth $425,000 after acquiring an additional 267 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its position in shares of Consolidated Edison by 32.6% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 11,673 shares of the utilities provider's stock worth $1,060,000 after acquiring an additional 2,868 shares during the period. Coston McIsaac & Partners raised its stake in shares of Consolidated Edison by 3.7% in the first quarter. Coston McIsaac & Partners now owns 58,841 shares of the utilities provider's stock valued at $5,343,000 after acquiring an additional 2,115 shares in the last quarter. Finally, Strata Wealth Advisors LLC purchased a new position in Consolidated Edison in the first quarter valued at $292,000. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Consolidated Edison Stock Performance

Shares of NYSE ED traded down $2.40 during midday trading on Friday, reaching $104.60. 1,734,348 shares of the company were exchanged, compared to its average volume of 1,832,982. The stock has a market cap of $36.17 billion, a P/E ratio of 20.08, a PEG ratio of 3.46 and a beta of 0.36. Consolidated Edison, Inc. has a 1 year low of $85.85 and a 1 year high of $107.75. The stock has a fifty day simple moving average of $103.35 and a 200 day simple moving average of $97.15. The company has a current ratio of 1.04, a quick ratio of 0.97 and a debt-to-equity ratio of 1.08.

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

Consolidated Edison Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Wednesday, November 13th will be issued 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%.

Analysts Set New Price Targets

A number of research firms have issued reports on ED. Guggenheim increased their price target on Consolidated Edison from $88.00 to $91.00 and gave the company a "neutral" rating in a research report on Friday, August 2nd. Wells Fargo & Company lifted their price target on shares of Consolidated Edison from $97.00 to $105.00 and gave the stock an "equal weight" rating in a research note on Friday, August 2nd. UBS Group increased their price objective on shares of Consolidated Edison from $105.00 to $106.00 and gave the company a "neutral" rating in a research report on Friday, September 20th. Jefferies Financial Group initiated coverage on shares of Consolidated Edison in a research report on Wednesday, October 9th. They set a "hold" rating and a $108.00 price objective for the company. Finally, Bank of America increased their target price on Consolidated Edison from $97.00 to $109.00 and gave the company a "buy" rating in a report on Monday, August 5th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Consolidated Edison currently has a consensus rating of "Hold" and a consensus target price of $98.73.

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.