Consolidated Edison, Inc. (NYSE:ED) Shares Purchased by Larson Financial Group LLC

Larson Financial Group LLC raised its position in Consolidated Edison, Inc. (NYSE:ED) by 2,732.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,249 shares of the utilities provider’s stock after buying an additional 4,099 shares during the period. Larson Financial Group LLC’s holdings in Consolidated Edison were worth $442,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Capital Performance Advisors LLP acquired a new stake in shares of Consolidated Edison in the third quarter valued at about $27,000. Beacon Capital Management LLC raised its holdings in Consolidated Edison by 2,307.7% in the 1st quarter. Beacon Capital Management LLC now owns 313 shares of the utilities provider’s stock valued at $28,000 after acquiring an additional 300 shares during the last quarter. Ashton Thomas Securities LLC purchased a new position in Consolidated Edison in the 3rd quarter worth approximately $30,000. Pathway Financial Advisers LLC acquired a new position in shares of Consolidated Edison during the 1st quarter worth approximately $33,000. Finally, TruNorth Capital Management LLC purchased a new stake in shares of Consolidated Edison in the second quarter valued at approximately $33,000. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. 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. Barclays reduced their price target on Consolidated Edison from $104.00 to $99.00 and set an “underweight” rating on the stock in a report on Friday, November 8th. Citigroup raised shares of Consolidated Edison from a “neutral” rating to a “buy” rating and upped their price objective for the company from $103.00 to $116.00 in a report on Tuesday, October 15th. Evercore ISI raised shares of Consolidated Edison from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 8th. Finally, Scotiabank increased their price target 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. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Consolidated Edison currently has a consensus rating of “Hold” and an average price target of $98.19.

Consolidated Edison Trading Up 2.3 %

Shares of NYSE ED opened at $101.72 on Wednesday. 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 stock has a market capitalization of $35.24 billion, a PE ratio of 19.16, a PEG ratio of 3.31 and a beta of 0.36. Consolidated Edison, Inc. has a twelve month low of $85.85 and a twelve month high of $107.75. The stock has a fifty day simple moving average of $101.85 and a 200-day simple moving average of $98.13.

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

Consolidated Edison Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Wednesday, November 13th will be issued a dividend of $0.83 per share. The ex-dividend date is Wednesday, November 13th. This represents a $3.32 dividend on an annualized basis and a yield of 3.26%. Consolidated Edison’s dividend payout ratio (DPR) is presently 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.