Wealth Enhancement Advisory Services LLC Cuts Stake in Consolidated Edison, Inc. (NYSE:ED)

Wealth Enhancement Advisory Services LLC trimmed its position in shares of Consolidated Edison, Inc. (NYSE:ED - Free Report) by 25.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 263,411 shares of the utilities provider's stock after selling 88,227 shares during the period. Wealth Enhancement Advisory Services LLC owned 0.08% of Consolidated Edison worth $27,429,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Beacon Capital Management LLC raised its stake in shares of Consolidated Edison by 2,307.7% during the 1st quarter. Beacon Capital Management LLC now owns 313 shares of the utilities provider's stock valued at $28,000 after purchasing an additional 300 shares during the period. Pathway Financial Advisers LLC bought a new stake in shares of Consolidated Edison during the 1st quarter valued at $33,000. TruNorth Capital Management LLC purchased a new stake in Consolidated Edison in the 2nd quarter worth approximately $33,000. Versant Capital Management Inc grew 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 purchasing 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 3rd quarter valued at $55,000. 66.29% of the stock is owned by institutional investors.

Consolidated Edison Trading Up 0.2 %

Consolidated Edison stock traded up $0.21 during trading hours on Monday, reaching $104.81. The stock had a trading volume of 1,204,528 shares, compared to its average volume of 1,829,960. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.04 and a quick ratio of 0.97. The stock has a market cap of $36.25 billion, a PE ratio of 20.17, a PEG ratio of 3.57 and a beta of 0.36. The company has a fifty day simple moving average of $103.35 and a 200-day simple moving average of $97.25. Consolidated Edison, Inc. has a 52 week low of $85.85 and a 52 week high of $107.75.

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

Consolidated Edison Dividend Announcement

The company also recently disclosed 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 yield of 3.17%. The ex-dividend date is Wednesday, November 13th. Consolidated Edison's dividend payout ratio is currently 63.72%.

Wall Street Analysts Forecast Growth

ED has been the subject of a number of recent analyst reports. Citigroup upgraded shares of Consolidated Edison from a "neutral" rating to a "buy" rating and boosted their price target for the company from $103.00 to $116.00 in a research report on Tuesday, October 15th. Morgan Stanley upped their price objective on shares of Consolidated Edison from $82.00 to $87.00 and gave the stock an "underweight" rating in a research report on Wednesday, September 25th. Wells Fargo & Company upped their price objective on shares of Consolidated Edison from $97.00 to $105.00 and gave the stock an "equal weight" rating in a research report on Friday, August 2nd. Bank of America upped their price objective on shares of Consolidated Edison from $97.00 to $109.00 and gave the stock a "buy" rating in a research report on Monday, August 5th. Finally, Barclays upped their price objective on shares of Consolidated Edison from $98.00 to $104.00 and gave the stock an "underweight" rating in a research report on Monday, October 21st. Four analysts have rated the stock with a sell rating, eight have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Consolidated Edison presently has a consensus rating of "Hold" and a consensus price target 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.