Consolidated Edison, Inc. (NYSE:ED) Stake Increased by United Asset Strategies Inc.

United Asset Strategies Inc. grew its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 3.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,976 shares of the utilities provider’s stock after acquiring an additional 215 shares during the period. United Asset Strategies Inc.’s holdings in Consolidated Edison were worth $544,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. IHT Wealth Management LLC raised its position in shares of Consolidated Edison by 1.4% during the 4th quarter. IHT Wealth Management LLC now owns 7,941 shares of the utilities provider’s stock worth $757,000 after purchasing an additional 110 shares during the period. Lido Advisors LLC raised its position in shares of Consolidated Edison by 0.3% during the 1st quarter. Lido Advisors LLC now owns 43,881 shares of the utilities provider’s stock worth $4,198,000 after purchasing an additional 113 shares during the period. Retirement Group LLC grew its holdings in Consolidated Edison by 74.8% in the 4th quarter. Retirement Group LLC now owns 271 shares of the utilities provider’s stock worth $26,000 after buying an additional 116 shares in the last quarter. Brinker Capital Investments LLC grew its holdings in Consolidated Edison by 1.2% in the 1st quarter. Brinker Capital Investments LLC now owns 9,592 shares of the utilities provider’s stock worth $908,000 after buying an additional 117 shares in the last quarter. Finally, MGO One Seven LLC grew its holdings in Consolidated Edison by 2.1% in the 3rd quarter. MGO One Seven LLC now owns 5,727 shares of the utilities provider’s stock worth $490,000 after buying an additional 119 shares in the last quarter. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Consolidated Edison Price Performance

Shares of NYSE:ED opened at $90.33 on Thursday. The business has a 50-day moving average of $88.87 and a two-hundred day moving average of $89.54. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.01 and a quick ratio of 0.94. Consolidated Edison, Inc. has a fifty-two week low of $80.46 and a fifty-two week high of $100.92. The stock has a market capitalization of $31.21 billion, a P/E ratio of 12.58, a P/E/G ratio of 8.24 and a beta of 0.35.

Consolidated Edison (NYSE:ED) last posted its earnings results on Thursday, February 15th. The utilities provider reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.02. Consolidated Edison had a return on equity of 8.41% and a net margin of 17.19%. The firm had revenue of $3.44 billion during the quarter, compared to analyst estimates of $3.70 billion. During the same period in the previous year, the company earned $0.81 EPS. The company’s revenue for the quarter was down 14.6% on a year-over-year basis. On average, equities research analysts predict that Consolidated Edison, Inc. will post 5.3 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ED has been the subject of a number of recent analyst reports. LADENBURG THALM/SH SH initiated coverage on Consolidated Edison in a report on Wednesday, January 3rd. They issued a “neutral” rating and a $92.50 price objective for the company. UBS Group decreased their price objective on Consolidated Edison from $99.00 to $94.00 and set a “neutral” rating for the company in a report on Friday, February 16th. Scotiabank increased their price objective on Consolidated Edison from $90.00 to $91.00 and gave the stock a “sector underperform” rating in a report on Tuesday, February 20th. KeyCorp raised Consolidated Edison from an “underweight” rating to a “sector weight” rating in a report on Thursday, January 4th. Finally, Barclays increased their price objective on Consolidated Edison from $86.00 to $87.00 and gave the stock an “equal weight” rating in a report on Thursday, March 14th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $87.96.

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.