Lake Street Advisors Group LLC Has $425,000 Stock Position in Consolidated Edison, Inc. (NYSE:ED)

Lake Street Advisors Group LLC raised its position in Consolidated Edison, Inc. (NYSE:ED) by 10.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,082 shares of the utilities provider’s stock after buying an additional 375 shares during the period. Lake Street Advisors Group LLC’s holdings in Consolidated Edison were worth $425,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Beacon Capital Management LLC raised its holdings in shares of Consolidated Edison by 2,307.7% in the first quarter. Beacon Capital Management LLC now owns 313 shares of the utilities provider’s stock valued at $28,000 after buying an additional 300 shares during the last quarter. Pathway Financial Advisers LLC bought a new position in shares of Consolidated Edison in the first quarter worth about $33,000. TruNorth Capital Management LLC acquired a new position in shares of Consolidated Edison during the second quarter worth approximately $33,000. Versant Capital Management Inc grew its stake in shares of Consolidated Edison by 380.2% during the second quarter. Versant Capital Management Inc now owns 413 shares of the utilities provider’s stock valued at $37,000 after purchasing an additional 327 shares during the last quarter. Finally, ESL Trust Services LLC acquired a new stake in shares of Consolidated Edison in the first quarter valued at approximately $54,000. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have commented on the company. UBS Group increased their price objective on Consolidated Edison from $105.00 to $106.00 and gave the company a “neutral” rating in a research report on Friday, September 20th. Wells Fargo & Company lifted their price objective on Consolidated Edison from $97.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. Morgan Stanley upped their target price on shares of Consolidated Edison from $82.00 to $87.00 and gave the company an “underweight” rating in a research report on Wednesday, September 25th. Guggenheim lifted their price target on shares of Consolidated Edison from $88.00 to $91.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Finally, Scotiabank increased their price objective on shares of Consolidated Edison from $85.00 to $90.00 and gave the company a “sector underperform” rating in a report on Tuesday, August 20th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $98.73.

Consolidated Edison Stock Performance

ED stock opened at $104.60 on Friday. Consolidated Edison, Inc. has a 1-year low of $85.85 and a 1-year high of $107.75. The business’s 50-day moving average price is $103.35 and its two-hundred day moving average price is $97.15. The firm has a market cap 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 current ratio of 1.04, a quick ratio of 0.97 and a debt-to-equity ratio of 1.08.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.02. The business had revenue of $3.22 billion during 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 period in the previous year, the firm earned $0.61 EPS. As a group, research analysts forecast that Consolidated Edison, Inc. will post 5.3 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The business also recently disclosed 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. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.17%. Consolidated Edison’s payout ratio is 64.59%.

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.