Landmark Wealth Management LLC Takes Position in Consolidated Edison, Inc. (NYSE:ED)

Landmark Wealth Management LLC acquired a new position in Consolidated Edison, Inc. (NYSE:ED) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 3,829 shares of the utilities provider’s stock, valued at approximately $399,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ED. ProShare Advisors LLC raised its position in Consolidated Edison by 6.6% in the first quarter. ProShare Advisors LLC now owns 2,000,741 shares of the utilities provider’s stock valued at $181,687,000 after purchasing an additional 123,654 shares during the period. Hsbc Holdings PLC raised its holdings in shares of Consolidated Edison by 0.8% in the 2nd quarter. Hsbc Holdings PLC now owns 1,502,523 shares of the utilities provider’s stock valued at $134,323,000 after buying an additional 11,785 shares during the period. Dimensional Fund Advisors LP lifted its stake in Consolidated Edison by 11.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,273,115 shares of the utilities provider’s stock worth $113,845,000 after acquiring an additional 125,859 shares in the last quarter. Clean Energy Transition LLP boosted its holdings in Consolidated Edison by 227.9% during the 2nd quarter. Clean Energy Transition LLP now owns 897,553 shares of the utilities provider’s stock valued at $80,259,000 after acquiring an additional 623,787 shares during the period. Finally, AQR Capital Management LLC boosted its holdings in Consolidated Edison by 5.5% during the 2nd quarter. AQR Capital Management LLC now owns 709,713 shares of the utilities provider’s stock valued at $63,413,000 after acquiring an additional 36,991 shares during the period. Institutional investors and hedge funds own 66.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on ED shares. Bank of America raised their price objective on shares of Consolidated Edison from $97.00 to $109.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Jefferies Financial Group initiated coverage on shares of Consolidated Edison in a research report on Wednesday, October 9th. They issued a “hold” rating and a $108.00 price target for the company. UBS Group upped their price objective on Consolidated Edison from $105.00 to $106.00 and gave the stock a “neutral” rating in a research report on Friday, September 20th. Guggenheim lifted their target price on Consolidated Edison from $88.00 to $91.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Finally, Scotiabank boosted their target price on Consolidated Edison from $85.00 to $90.00 and gave the stock a “sector underperform” rating in a research note on Tuesday, August 20th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $98.73.

Consolidated Edison Stock Down 0.8 %

ED stock opened at $99.15 on Tuesday. The company’s 50 day moving average is $103.51 and its two-hundred day moving average is $97.79. Consolidated Edison, Inc. has a twelve month low of $85.85 and a twelve month high of $107.75. The company has a current ratio of 1.04, a quick ratio of 0.97 and a debt-to-equity ratio of 1.08. The stock has a market cap of $34.32 billion, a P/E ratio of 19.29, a PEG ratio of 3.37 and a beta of 0.36.

Consolidated Edison Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Wednesday, November 13th will be paid a dividend of $0.83 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $3.32 dividend on an annualized basis and a yield of 3.35%. Consolidated Edison’s dividend payout ratio is presently 64.59%.

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.