Consolidated Edison, Inc. (NYSE:ED) Shares Acquired by Dakota Wealth Management

Dakota Wealth Management increased its holdings in shares of Consolidated Edison, Inc. (NYSE:ED) by 14.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,499 shares of the utilities provider’s stock after acquiring an additional 1,446 shares during the quarter. Dakota Wealth Management’s holdings in Consolidated Edison were worth $1,197,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of ED. Beacon Capital Management LLC grew 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 valued at $28,000 after purchasing an additional 300 shares during the last quarter. Pathway Financial Advisers LLC acquired a new position in Consolidated Edison during the 1st quarter valued at approximately $33,000. TruNorth Capital Management LLC acquired a new position in Consolidated Edison during the 2nd quarter valued at approximately $33,000. Versant Capital Management Inc grew its stake in Consolidated Edison by 380.2% during the 2nd quarter. Versant Capital Management Inc now owns 413 shares of the utilities provider’s stock worth $37,000 after buying an additional 327 shares during the last quarter. Finally, ESL Trust Services LLC acquired a new stake in Consolidated Edison in the first quarter worth $54,000. Institutional investors and hedge funds own 66.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on ED shares. Wells Fargo & Company boosted their price target on shares of Consolidated Edison from $97.00 to $105.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. Scotiabank upped their target price on shares of Consolidated Edison from $85.00 to $90.00 and gave the stock a “sector underperform” rating in a research report on Tuesday, August 20th. Guggenheim lifted their price target on Consolidated Edison from $88.00 to $91.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Jefferies Financial Group began coverage on Consolidated Edison in a report on Wednesday, October 9th. They issued a “hold” rating and a $108.00 price objective for the company. Finally, Citigroup upgraded Consolidated Edison from a “neutral” rating to a “buy” rating and raised their target price for the company from $103.00 to $116.00 in a research report on Tuesday, October 15th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $98.73.

Consolidated Edison Stock Down 2.2 %

ED opened at $104.60 on Friday. The stock’s fifty day moving average is $103.35 and its 200-day moving average is $97.15. Consolidated Edison, Inc. has a one year low of $85.85 and a one year high of $107.75. The company has a market capitalization of $36.21 billion, a PE ratio of 20.35, a P/E/G ratio of 3.57 and a beta of 0.36. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.97 and a current ratio of 1.04.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.59 EPS for the quarter, topping the consensus estimate of $0.57 by $0.02. Consolidated Edison had a net margin of 12.03% and a return on equity of 8.67%. The firm had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $3.08 billion. During the same period in the previous year, the business earned $0.61 earnings per share. On average, equities analysts predict 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. Investors of record on Wednesday, November 13th will be issued a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date is Wednesday, November 13th. Consolidated Edison’s payout ratio is 64.59%.

Consolidated Edison 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.