Hennion & Walsh Asset Management Inc. Grows Position in Consolidated Edison, Inc. (NYSE:ED)

Hennion & Walsh Asset Management Inc. grew its position in shares of Consolidated Edison, Inc. (NYSE:ED) by 3.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,851 shares of the utilities provider’s stock after purchasing an additional 527 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Consolidated Edison were worth $1,546,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in ED. ProShare Advisors LLC grew its holdings 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 lifted its position in shares of Consolidated Edison by 0.8% during 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 in the last quarter. Dimensional Fund Advisors LP increased its holdings in Consolidated Edison by 11.0% in 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 increased its holdings in Consolidated Edison by 227.9% in the 2nd quarter. Clean Energy Transition LLP now owns 897,553 shares of the utilities provider’s stock worth $80,259,000 after acquiring an additional 623,787 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its position in Consolidated Edison by 14.6% during the first quarter. BNP Paribas Financial Markets now owns 720,573 shares of the utilities provider’s stock worth $65,435,000 after acquiring an additional 91,559 shares during the period. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Consolidated Edison Stock Down 2.2 %

ED stock opened at $104.60 on Friday. Consolidated Edison, Inc. has a one year low of $85.85 and a one year high of $107.75. The firm has a market cap of $36.21 billion, a PE ratio of 20.35, a PEG ratio of 3.57 and a beta of 0.36. The firm’s 50 day moving average price is $103.35 and its 200-day moving average price is $97.15. 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 announced its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.59 EPS for the quarter, beating the consensus estimate of $0.57 by $0.02. The business had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.08 billion. Consolidated Edison had a return on equity of 8.67% and a net margin of 12.03%. During the same quarter in the prior year, the company posted $0.61 EPS. On average, equities research analysts anticipate that Consolidated Edison, Inc. will post 5.3 EPS for the current year.

Consolidated Edison Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Wednesday, November 13th will be given a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date is Wednesday, November 13th. Consolidated Edison’s dividend payout ratio is presently 64.59%.

Wall Street Analyst Weigh In

ED has been the subject of a number of research reports. Scotiabank boosted 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 note on Tuesday, August 20th. Wells Fargo & Company boosted their price objective on Consolidated Edison from $97.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. Guggenheim raised their target price on Consolidated Edison from $88.00 to $91.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Jefferies Financial Group initiated coverage on Consolidated Edison in a research report on Wednesday, October 9th. They set a “hold” rating and a $108.00 price target for the company. Finally, UBS Group raised their price objective on Consolidated Edison from $105.00 to $106.00 and gave the company a “neutral” rating in a report on Friday, September 20th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $98.73.

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.