Coldstream Capital Management Inc. Has $602,000 Position in Consolidated Edison, Inc. (NYSE:ED)

Coldstream Capital Management Inc. lifted its position in Consolidated Edison, Inc. (NYSE:ED) by 18.0% during the third quarter, HoldingsChannel.com reports. The fund owned 5,864 shares of the utilities provider’s stock after purchasing an additional 896 shares during the period. Coldstream Capital Management Inc.’s holdings in Consolidated Edison were worth $602,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of ED. Capital Performance Advisors LLP acquired a new stake in Consolidated Edison in the third quarter worth $27,000. Ashton Thomas Securities LLC bought a new stake in shares of Consolidated Edison in the 3rd quarter valued at $30,000. Cultivar Capital Inc. bought a new stake in shares of Consolidated Edison in the 2nd quarter valued at $54,000. Future Financial Wealth Managment LLC acquired a new stake in Consolidated Edison during the 3rd quarter worth $55,000. Finally, FSA Wealth Management LLC bought a new position in Consolidated Edison during the third quarter worth about $55,000. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Trading Up 0.1 %

Consolidated Edison stock opened at $92.69 on Friday. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93. The firm has a 50-day moving average of $100.02 and a 200-day moving average of $98.14. The company has a market cap of $32.11 billion, a price-to-earnings ratio of 17.46, a P/E/G ratio of 3.11 and a beta of 0.36. Consolidated Edison, Inc. has a one year low of $85.85 and a one year high of $107.75.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Thursday, November 7th. The utilities provider reported $1.68 EPS for the quarter, beating the consensus estimate of $1.56 by $0.12. The firm had revenue of $4.09 billion during 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%. On average, equities analysts expect that Consolidated Edison, Inc. will post 5.34 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

The company 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. The ex-dividend date is Wednesday, November 13th. This represents a $3.32 annualized dividend and a dividend yield of 3.58%. Consolidated Edison’s dividend payout ratio is presently 62.52%.

Wall Street Analyst Weigh In

ED has been the topic of a number of research analyst reports. Citigroup raised Consolidated Edison from a “neutral” rating to a “buy” rating and raised their price target for the stock from $103.00 to $116.00 in a research report on Tuesday, October 15th. Evercore ISI raised Consolidated Edison from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 8th. Scotiabank raised shares of Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and lifted their price target for the company from $90.00 to $100.00 in a research note on Thursday. Morgan Stanley lowered their price objective on shares of Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating for the company in a research report on Friday, November 22nd. Finally, Jefferies Financial Group assumed coverage on shares of Consolidated Edison in a research report on Wednesday, October 9th. They issued a “hold” rating and a $108.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, two have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $99.96.

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.