Sanctuary Advisors LLC Buys 10,568 Shares of Consolidated Edison, Inc. (NYSE:ED)

Sanctuary Advisors LLC grew its stake in Consolidated Edison, Inc. (NYSE:ED - Free Report) by 23.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 55,318 shares of the utilities provider's stock after purchasing an additional 10,568 shares during the quarter. Sanctuary Advisors LLC's holdings in Consolidated Edison were worth $5,441,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Retirement Planning Co of New England Inc. boosted its position in shares of Consolidated Edison by 4.2% in 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 period. Benjamin F. Edwards & Company Inc. boosted its holdings in Consolidated Edison by 13.0% in 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 period. TD Private Client Wealth LLC raised its position in shares of Consolidated Edison by 4.7% in the third quarter. TD Private Client Wealth LLC now owns 2,334 shares of the utilities provider's stock valued at $243,000 after buying an additional 104 shares in the last quarter. D.A. Davidson & CO. boosted its stake in shares of Consolidated Edison by 1.1% in the third quarter. D.A. Davidson & CO. now owns 11,142 shares of the utilities provider's stock valued at $1,160,000 after buying an additional 124 shares during the period. Finally, Townsquare Capital LLC grew its position in Consolidated Edison by 2.4% during the third quarter. Townsquare Capital LLC now owns 5,574 shares of the utilities provider's stock worth $580,000 after buying an additional 130 shares in the last quarter. Institutional investors and hedge funds own 66.29% of the company's stock.

Consolidated Edison Trading Down 1.6 %

Shares of NYSE ED traded down $1.46 during trading on Monday, reaching $91.23. The company had a trading volume of 3,004,546 shares, compared to its average volume of 1,901,489. Consolidated Edison, Inc. has a 12 month low of $85.85 and a 12 month high of $107.75. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07. The stock has a market cap of $31.60 billion, a P/E ratio of 17.46, a PEG ratio of 3.11 and a beta of 0.36. The company's fifty day moving average price is $100.02 and its 200-day moving average price is $98.22.

Consolidated Edison (NYSE:ED - Get Free Report) last released its quarterly 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. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.70%. The firm had revenue of $4.09 billion during the quarter, compared to analyst estimates of $4.02 billion. As a group, research analysts expect that Consolidated Edison, Inc. will post 5.34 earnings per share for the current year.

Consolidated Edison Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Wednesday, November 13th will be issued a dividend of $0.83 per share. The ex-dividend date is Wednesday, November 13th. This represents a $3.32 dividend on an annualized basis and a yield of 3.64%. Consolidated Edison's payout ratio is currently 62.52%.

Analysts Set New Price Targets

A number of brokerages have issued reports on ED. Scotiabank upgraded shares of Consolidated Edison from a "sector underperform" rating to a "sector perform" rating and increased their price objective for the stock from $90.00 to $100.00 in a research note on Thursday. Barclays reduced their target price on Consolidated Edison from $104.00 to $99.00 and set an "underweight" rating on the stock in a report on Friday, November 8th. Morgan Stanley lowered their price target on Consolidated Edison from $88.00 to $85.00 and set an "underweight" rating for the company in a report on Friday, November 22nd. UBS Group increased their target price on shares of Consolidated Edison from $105.00 to $106.00 and gave the stock a "neutral" rating in a report on Friday, September 20th. Finally, Evercore ISI upgraded shares of Consolidated Edison from a "hold" rating to a "strong-buy" rating in a research report on Friday, November 8th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $99.96.

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.