Coston McIsaac & Partners Purchases 1,415 Shares of Consolidated Edison, Inc. (NYSE:ED)

Coston McIsaac & Partners raised its stake in Consolidated Edison, Inc. (NYSE:ED) by 2.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 61,231 shares of the utilities provider’s stock after purchasing an additional 1,415 shares during the period. Consolidated Edison accounts for approximately 1.8% of Coston McIsaac & Partners’ investment portfolio, making the stock its 18th largest holding. Coston McIsaac & Partners’ holdings in Consolidated Edison were worth $6,375,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Beacon Capital Management LLC lifted 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 worth $28,000 after purchasing an additional 300 shares during the period. Pathway Financial Advisers LLC acquired a new position in Consolidated Edison in the first quarter valued at approximately $33,000. TruNorth Capital Management LLC acquired a new position in Consolidated Edison in the second quarter valued at approximately $33,000. Versant Capital Management Inc lifted its holdings in Consolidated Edison by 380.2% in the second quarter. Versant Capital Management Inc now owns 413 shares of the utilities provider’s stock valued at $37,000 after acquiring an additional 327 shares during the period. Finally, Future Financial Wealth Managment LLC acquired a new position in Consolidated Edison in the first quarter valued at approximately $48,000. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Morgan Stanley boosted their price objective on Consolidated Edison from $82.00 to $87.00 and gave the company an “underweight” rating in a research report on Wednesday, September 25th. Wells Fargo & Company boosted their price objective 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. Barclays boosted their price objective on Consolidated Edison from $98.00 to $104.00 and gave the company an “underweight” rating in a research report on Monday. UBS Group boosted their price target on Consolidated Edison from $105.00 to $106.00 and gave the stock a “neutral” rating in a research report on Friday, September 20th. Finally, Bank of America boosted their price target on Consolidated Edison from $97.00 to $109.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Four investment 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 company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $98.73.

Consolidated Edison Trading Up 0.6 %

Consolidated Edison stock traded up $0.60 during midday trading on Wednesday, reaching $106.30. The stock had a trading volume of 341,048 shares, compared to its average volume of 1,830,354. The firm’s fifty day simple moving average is $102.97 and its two-hundred day simple moving average is $96.91. Consolidated Edison, Inc. has a twelve month low of $85.85 and a twelve month high of $107.10. 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 firm has a market cap of $36.76 billion, a price-to-earnings ratio of 20.29, a PEG ratio of 3.46 and a beta of 0.36.

Consolidated Edison (NYSE:ED) last released its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02. The business had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.08 billion. Consolidated Edison had a net margin of 12.03% and a return on equity of 8.67%. During the same quarter last year, the firm earned $0.61 EPS. Equities analysts anticipate that Consolidated Edison, Inc. will post 5.3 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Wednesday, November 13th will be given a dividend of $0.83 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $3.32 annualized dividend and a dividend yield of 3.12%. Consolidated Edison’s dividend payout ratio (DPR) is currently 63.72%.

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.