Fifth Third Wealth Advisors LLC Purchases 799 Shares of Consolidated Edison, Inc. (NYSE:ED)

Fifth Third Wealth Advisors LLC increased its holdings in shares of Consolidated Edison, Inc. (NYSE:ED) by 28.4% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 3,616 shares of the utilities provider’s stock after purchasing an additional 799 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Consolidated Edison were worth $377,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Verity & Verity LLC lifted its position in shares of Consolidated Edison by 7.3% in the third quarter. Verity & Verity LLC now owns 4,390 shares of the utilities provider’s stock valued at $457,000 after buying an additional 297 shares during the last quarter. Caprock Group LLC raised its stake in Consolidated Edison by 30.6% in the 3rd quarter. Caprock Group LLC now owns 4,426 shares of the utilities provider’s stock valued at $461,000 after acquiring an additional 1,038 shares during the period. Pathstone Holdings LLC lifted its holdings in Consolidated Edison by 10.2% during the 3rd quarter. Pathstone Holdings LLC now owns 37,528 shares of the utilities provider’s stock valued at $3,908,000 after purchasing an additional 3,475 shares during the last quarter. Windle Wealth LLC boosted its position in Consolidated Edison by 1.6% during the third quarter. Windle Wealth LLC now owns 69,125 shares of the utilities provider’s stock worth $7,198,000 after purchasing an additional 1,096 shares during the period. Finally, OneAscent Wealth Management LLC acquired a new position in shares of Consolidated Edison in the third quarter valued at $237,000. Institutional investors and hedge funds own 66.29% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on ED shares. Evercore ISI upgraded shares of Consolidated Edison from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 8th. Jefferies Financial Group began coverage on Consolidated Edison in a research note on Wednesday, October 9th. They set a “hold” rating and a $108.00 target price on the stock. Bank of America boosted their price target on Consolidated Edison from $97.00 to $109.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Wells Fargo & Company increased 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. Finally, Barclays reduced their target price on shares of Consolidated Edison from $104.00 to $99.00 and set an “underweight” rating for the company in a research report on Friday, November 8th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating, two have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $98.35.

Consolidated Edison Stock Up 0.8 %

Shares of ED opened at $98.67 on Friday. The firm has a 50 day simple moving average of $102.14 and a two-hundred day simple moving average of $98.06. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93. Consolidated Edison, Inc. has a one year low of $85.85 and a one year high of $107.75. The company has a market cap of $34.18 billion, a P/E ratio of 18.58, a P/E/G ratio of 3.26 and a beta of 0.36.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings results on Thursday, November 7th. The utilities provider reported $1.68 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 company had revenue of $4.09 billion during the quarter, compared to analysts’ expectations of $4.02 billion. Research analysts forecast that Consolidated Edison, Inc. will post 5.33 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The business also recently declared 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 annualized dividend and a dividend yield of 3.36%. The ex-dividend date is Wednesday, November 13th. Consolidated Edison’s dividend payout ratio (DPR) is presently 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.