Pathstone Holdings LLC Acquires 3,475 Shares of Consolidated Edison, Inc. (NYSE:ED)

Pathstone Holdings LLC raised its holdings in Consolidated Edison, Inc. (NYSE:ED) by 10.2% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 37,528 shares of the utilities provider’s stock after purchasing an additional 3,475 shares during the quarter. Pathstone Holdings LLC’s holdings in Consolidated Edison were worth $3,908,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Capital Performance Advisors LLP bought a new stake in Consolidated Edison in the 3rd quarter valued at $27,000. Beacon Capital Management LLC raised its position 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 purchasing an additional 300 shares during the period. Ashton Thomas Securities LLC acquired a new stake in shares of Consolidated Edison during the 3rd quarter worth about $30,000. Pathway Financial Advisers LLC bought a new stake in shares of Consolidated Edison during the 1st quarter worth about $33,000. Finally, TruNorth Capital Management LLC acquired a new position in Consolidated Edison in the 2nd quarter valued at about $33,000. 66.29% of the stock is owned by institutional investors and hedge funds.

Consolidated Edison Trading Down 0.3 %

Shares of ED stock opened at $98.36 on Friday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01. Consolidated Edison, Inc. has a fifty-two week low of $85.85 and a fifty-two week high of $107.75. The company has a market cap of $34.07 billion, a PE ratio of 18.52, a P/E/G ratio of 3.32 and a beta of 0.36. The stock’s fifty day moving average price is $102.01 and its two-hundred day moving average price is $98.08.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings results on Thursday, November 7th. The utilities provider reported $1.68 earnings per share for the quarter, beating analysts’ consensus estimates of $1.56 by $0.12. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.70%. The company had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $4.02 billion. Equities analysts predict that Consolidated Edison, Inc. will post 5.33 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Wednesday, November 13th will be given 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 yield of 3.38%. Consolidated Edison’s dividend payout ratio is currently 62.52%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on ED shares. Scotiabank raised their price objective on shares of Consolidated Edison from $85.00 to $90.00 and gave the stock a “sector underperform” rating in a research report on Tuesday, August 20th. Guggenheim upped their price objective on Consolidated Edison from $88.00 to $91.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. 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. Jefferies Financial Group initiated coverage on shares of Consolidated Edison in a research report on Wednesday, October 9th. They issued a “hold” rating and a $108.00 target price for the company. Finally, Citigroup raised shares of Consolidated Edison from a “neutral” rating to a “buy” rating and raised their price target for the stock from $103.00 to $116.00 in a research report on Tuesday, October 15th. Four analysts have rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $98.19.

Consolidated Edison Company 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.