Wealthspire Advisors LLC Has $1.03 Million Stock Holdings in Consolidated Edison, Inc. (NYSE:ED)

Wealthspire Advisors LLC lifted its stake in Consolidated Edison, Inc. (NYSE:ED) by 9.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 11,525 shares of the utilities provider’s stock after acquiring an additional 1,042 shares during the quarter. Wealthspire Advisors LLC’s holdings in Consolidated Edison were worth $1,028,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of ED. State Street Corp grew its stake in Consolidated Edison by 1.7% in the third quarter. State Street Corp now owns 23,429,218 shares of the utilities provider’s stock valued at $2,439,684,000 after purchasing an additional 399,034 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Consolidated Edison by 1.2% in the third quarter. Geode Capital Management LLC now owns 8,853,788 shares of the utilities provider’s stock valued at $919,041,000 after buying an additional 107,281 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Consolidated Edison by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,148,666 shares of the utilities provider’s stock worth $223,741,000 after buying an additional 28,254 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Consolidated Edison by 4.0% during the third quarter. JPMorgan Chase & Co. now owns 2,145,128 shares of the utilities provider’s stock worth $223,373,000 after buying an additional 82,985 shares during the last quarter. Finally, Allianz Asset Management GmbH raised its position in Consolidated Edison by 13.8% during the fourth quarter. Allianz Asset Management GmbH now owns 1,847,034 shares of the utilities provider’s stock worth $164,811,000 after acquiring an additional 224,258 shares in the last quarter. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Stock Performance

Shares of NYSE ED opened at $101.04 on Wednesday. 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 market cap of $35.00 billion, a price-to-earnings ratio of 19.28, a P/E/G ratio of 3.05 and a beta of 0.39. The stock’s fifty day moving average price is $92.46 and its two-hundred day moving average price is $97.95. Consolidated Edison, Inc. has a one year low of $85.85 and a one year high of $107.75.

Consolidated Edison (NYSE:ED) last released its quarterly earnings results on Thursday, February 20th. The utilities provider reported $0.98 EPS for the quarter, beating the consensus estimate of $0.97 by $0.01. Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. The business had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.63 billion. On average, equities analysts forecast that Consolidated Edison, Inc. will post 5.62 EPS for the current year.

Consolidated Edison Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Wednesday, February 19th will be issued a dividend of $0.85 per share. The ex-dividend date of this dividend is Wednesday, February 19th. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.83. This represents a $3.40 annualized dividend and a dividend yield of 3.37%. Consolidated Edison’s dividend payout ratio (DPR) is currently 64.89%.

Analyst Ratings Changes

ED has been the subject of a number of analyst reports. UBS Group lifted their price objective on shares of Consolidated Edison from $105.00 to $110.00 and gave the company a “neutral” rating in a research report on Tuesday. Barclays boosted their price target on Consolidated Edison from $92.00 to $95.00 and gave the stock an “underweight” rating in a research report on Monday. Evercore ISI cut Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 21st. Scotiabank boosted their target price on Consolidated Edison from $100.00 to $101.00 and gave the stock a “sector perform” rating in a report on Monday. Finally, Morgan Stanley dropped their price target on Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating on the stock in a research note on Friday, November 22nd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $101.50.

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.