Consolidated Edison, Inc. (NYSE:ED) Shares Acquired by Prime Capital Investment Advisors LLC

Prime Capital Investment Advisors LLC increased its position in shares of Consolidated Edison, Inc. (NYSE:ED) by 11.2% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,615 shares of the utilities provider’s stock after purchasing an additional 365 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Consolidated Edison were worth $376,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Entropy Technologies LP raised its stake in shares of Consolidated Edison by 17.2% during the 3rd quarter. Entropy Technologies LP now owns 64,470 shares of the utilities provider’s stock worth $6,713,000 after buying an additional 9,468 shares during the last quarter. Ashton Thomas Securities LLC acquired a new stake in Consolidated Edison in the 3rd quarter valued at about $30,000. Los Angeles Capital Management LLC raised its position in Consolidated Edison by 5.2% during the third quarter. Los Angeles Capital Management LLC now owns 272,310 shares of the utilities provider’s stock worth $28,356,000 after acquiring an additional 13,342 shares during the last quarter. Mitchell Mcleod Pugh & Williams Inc. purchased a new stake in shares of Consolidated Edison in the third quarter valued at about $211,000. Finally, Baker Avenue Asset Management LP acquired a new stake in shares of Consolidated Edison in the third quarter valued at approximately $321,000. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on ED. Citigroup upgraded Consolidated Edison from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $103.00 to $116.00 in a research report on Tuesday, October 15th. Morgan Stanley upped their price objective on Consolidated Edison from $82.00 to $87.00 and gave the company an “underweight” rating in a research report on Wednesday, September 25th. Bank of America lifted their price objective on Consolidated Edison from $97.00 to $109.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. UBS Group upped their target price on shares of Consolidated Edison from $105.00 to $106.00 and gave the company a “neutral” rating in a report on Friday, September 20th. Finally, 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 report on Friday, August 2nd. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Consolidated Edison has an average rating of “Hold” and an average price target of $98.35.

Consolidated Edison Price Performance

Shares of Consolidated Edison stock opened at $96.44 on Friday. The stock has a market capitalization of $33.41 billion, a P/E ratio of 18.16, a PEG ratio of 3.21 and a beta of 0.36. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.07. The business’s fifty day moving average price is $102.68 and its 200 day moving average price is $97.99. Consolidated Edison, Inc. has a twelve month low of $85.85 and a twelve month high of $107.75.

Consolidated Edison (NYSE:ED) last issued its earnings results on Thursday, November 7th. The utilities provider reported $1.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.56 by $0.12. Consolidated Edison had a return on equity of 8.70% and a net margin of 12.27%. The business had revenue of $4.09 billion during the quarter, compared to analysts’ expectations of $4.02 billion. As a group, research analysts anticipate that Consolidated Edison, Inc. will post 5.33 earnings per share for the current 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. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $3.32 annualized dividend and a dividend yield of 3.44%. Consolidated Edison’s payout ratio is 62.52%.

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.