Pathway Financial Advisers LLC Purchases 24,211 Shares of Consolidated Edison, Inc. (NYSE:ED)

Pathway Financial Advisers LLC boosted its stake in Consolidated Edison, Inc. (NYSE:ED - Free Report) by 10,302.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 24,446 shares of the utilities provider's stock after buying 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.

Several other large investors have also bought and sold shares of the stock. Retirement Planning Co of New England Inc. increased its position in shares of Consolidated Edison by 4.2% during the second quarter. Retirement Planning Co of New England Inc. now owns 2,501 shares of the utilities provider's stock valued at $224,000 after acquiring an additional 100 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its position in shares of Consolidated Edison by 13.0% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 868 shares of the utilities provider's stock valued at $78,000 after purchasing an additional 100 shares during the last quarter. Brookstone Capital Management raised its stake in shares of Consolidated Edison by 0.6% during the 3rd quarter. Brookstone Capital Management now owns 24,173 shares of the utilities provider's stock worth $2,517,000 after purchasing an additional 136 shares during the period. Checchi Capital Advisers LLC boosted its holdings in shares of Consolidated Edison by 2.6% in the 2nd quarter. Checchi Capital Advisers LLC now owns 5,627 shares of the utilities provider's stock worth $503,000 after buying an additional 141 shares during the last quarter. Finally, Center For Asset Management LLC grew its position in Consolidated Edison by 3.5% during the second quarter. Center For Asset Management LLC now owns 4,358 shares of the utilities provider's stock valued at $390,000 after buying an additional 147 shares during the period. 66.29% of the stock is currently owned by institutional investors.

Consolidated Edison Price Performance

NYSE ED traded down $0.17 on Wednesday, hitting $102.74. The stock had a trading volume of 1,641,091 shares, compared to its average volume of 1,827,265. The firm has a 50-day moving average of $103.54 and a 200-day moving average of $97.50. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.97 and a current ratio of 1.04. Consolidated Edison, Inc. has a 52-week low of $85.85 and a 52-week high of $107.75. The company has a market capitalization of $35.53 billion, a price-to-earnings ratio of 19.72, a price-to-earnings-growth ratio of 3.57 and a beta of 0.36.

Consolidated Edison (NYSE:ED - Get Free Report) last posted its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.59 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $3.08 billion. During the same quarter last year, the company earned $0.61 earnings per share. Equities analysts expect that Consolidated Edison, Inc. will post 5.3 EPS for the current year.

Consolidated Edison Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Wednesday, November 13th will be paid a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date of this dividend is Wednesday, November 13th. Consolidated Edison's dividend payout ratio is currently 63.72%.

Analysts Set New Price Targets

ED has been the topic of a number of research analyst reports. Citigroup upgraded shares of Consolidated Edison from a "neutral" rating to a "buy" rating and boosted their target price for the company from $103.00 to $116.00 in a research note on Tuesday, October 15th. Jefferies Financial Group began coverage on Consolidated Edison in a research report on Wednesday, October 9th. They issued a "hold" rating and a $108.00 target price for the company. Bank of America upped their price target on Consolidated Edison from $97.00 to $109.00 and gave the company a "buy" rating in a research report on Monday, August 5th. UBS Group lifted their price objective on Consolidated Edison from $105.00 to $106.00 and gave the stock a "neutral" rating in a report on Friday, September 20th. Finally, Scotiabank upped their price objective on shares of Consolidated Edison from $85.00 to $90.00 and gave the company a "sector underperform" rating in a report on Tuesday, August 20th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average 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.