CWA Asset Management Group LLC Buys New Shares in Consolidated Edison, Inc. (NYSE:ED)

CWA Asset Management Group LLC acquired a new stake in Consolidated Edison, Inc. (NYSE:ED) during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 5,413 shares of the utilities provider’s stock, valued at approximately $564,000.

Other large investors have also recently bought and sold shares of the company. Capital Performance Advisors LLP acquired a new stake in Consolidated Edison during the third quarter worth approximately $27,000. Beacon Capital Management LLC boosted its stake 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 worth $28,000 after buying an additional 300 shares during the period. Pathway Financial Advisers LLC acquired a new stake in Consolidated Edison during the 1st quarter worth approximately $33,000. TruNorth Capital Management LLC purchased a new position in Consolidated Edison in the 2nd quarter valued at $33,000. Finally, Versant Capital Management Inc boosted its holdings in shares of Consolidated Edison by 380.2% in the second quarter. Versant Capital Management Inc now owns 413 shares of the utilities provider’s stock valued at $37,000 after acquiring an additional 327 shares in the last quarter. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Wall Street Analysts Forecast Growth

ED has been the topic of a number of research reports. 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 research note on Tuesday, August 20th. UBS Group raised their price target on shares of Consolidated Edison from $105.00 to $106.00 and gave the stock a “neutral” rating in a research note on Friday, September 20th. Bank of America lifted their target price on shares of Consolidated Edison from $97.00 to $109.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Citigroup upgraded shares of Consolidated Edison from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $103.00 to $116.00 in a report on Tuesday, October 15th. Finally, Guggenheim increased their target price on Consolidated Edison from $88.00 to $91.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $98.35.

Consolidated Edison Trading Up 0.4 %

NYSE:ED opened at $98.48 on Tuesday. The stock’s 50 day moving average price is $103.35 and its 200 day moving average price is $97.96. Consolidated Edison, Inc. has a 52 week low of $85.85 and a 52 week high of $107.75. The company has a market capitalization of $34.09 billion, a P/E ratio of 18.55, a P/E/G ratio of 3.31 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 announced its earnings results on Thursday, November 7th. The utilities provider reported $1.68 EPS for the quarter, topping the consensus estimate of $1.56 by $0.12. The firm had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $4.02 billion. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.75%. On average, research analysts forecast that Consolidated Edison, Inc. will post 5.33 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Wednesday, November 13th will be paid a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date is Wednesday, November 13th. Consolidated Edison’s dividend payout ratio is 62.52%.

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.