Guardian Wealth Advisors LLC Has $660,000 Position in Consolidated Edison, Inc. (NYSE:ED)

Guardian Wealth Advisors LLC boosted its stake in Consolidated Edison, Inc. (NYSE:ED) by 2.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,342 shares of the utilities provider’s stock after purchasing an additional 165 shares during the period. Guardian Wealth Advisors LLC’s holdings in Consolidated Edison were worth $660,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in ED. Hsbc Holdings PLC boosted its position in Consolidated Edison by 0.8% during the 2nd quarter. Hsbc Holdings PLC now owns 1,502,523 shares of the utilities provider’s stock worth $134,323,000 after buying an additional 11,785 shares during the period. Dimensional Fund Advisors LP raised its position 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 purchasing an additional 125,859 shares during the last quarter. Swiss National Bank grew its position in shares of Consolidated Edison by 0.3% in the 3rd quarter. Swiss National Bank now owns 1,026,500 shares of the utilities provider’s stock valued at $106,889,000 after buying an additional 3,500 shares during the last quarter. Clean Energy Transition LLP increased its stake in shares of Consolidated Edison by 227.9% in the second quarter. Clean Energy Transition LLP now owns 897,553 shares of the utilities provider’s stock valued at $80,259,000 after buying an additional 623,787 shares during the period. Finally, AQR Capital Management LLC lifted its stake in shares of Consolidated Edison by 5.5% in the second quarter. AQR Capital Management LLC now owns 709,713 shares of the utilities provider’s stock worth $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.

Analyst Ratings Changes

A number of brokerages recently weighed in on ED. Guggenheim lifted their target price on shares of Consolidated Edison from $88.00 to $91.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Barclays dropped their price objective on Consolidated Edison from $104.00 to $99.00 and set an “underweight” rating on the stock in a research note on Friday, November 8th. UBS Group lifted their target price on Consolidated Edison from $105.00 to $106.00 and gave the stock a “neutral” rating in a report on Friday, September 20th. Morgan Stanley raised 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. Finally, Wells Fargo & Company boosted their target price on shares of Consolidated Edison from $97.00 to $105.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. Four analysts have rated the stock with a sell rating, eight have given a hold rating, two have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $98.35.

Consolidated Edison Stock Up 0.0 %

ED stock opened at $96.45 on Tuesday. The firm has a market capitalization of $33.41 billion, a PE ratio of 18.16, a P/E/G ratio of 3.24 and a beta of 0.36. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07. Consolidated Edison, Inc. has a twelve month low of $85.85 and a twelve month high of $107.75. The stock’s 50 day moving average is $102.51 and its 200-day moving average is $98.05.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings data on Thursday, November 7th. The utilities provider reported $1.68 earnings per share for the quarter, beating the consensus estimate of $1.56 by $0.12. The business had revenue of $4.09 billion for the quarter, compared to analysts’ expectations of $4.02 billion. Consolidated Edison had a return on equity of 8.70% and a net margin of 12.27%. Sell-side analysts expect that Consolidated Edison, Inc. will post 5.33 EPS for the current fiscal year.

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 issued a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 3.44%. The ex-dividend date is Wednesday, November 13th. Consolidated Edison’s dividend payout ratio (DPR) is presently 62.52%.

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.