LVW Advisors LLC Purchases 282 Shares of Consolidated Edison, Inc. (NYSE:ED)

LVW Advisors LLC lifted its position in shares of Consolidated Edison, Inc. (NYSE:ED) by 5.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,440 shares of the utilities provider’s stock after acquiring an additional 282 shares during the quarter. LVW Advisors LLC’s holdings in Consolidated Edison were worth $602,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in ED. JPMorgan Chase & Co. increased its holdings in Consolidated Edison by 4.0% in the third quarter. JPMorgan Chase & Co. now owns 2,145,128 shares of the utilities provider’s stock valued at $223,373,000 after purchasing an additional 82,985 shares during the last quarter. Revolve Wealth Partners LLC increased its holdings in Consolidated Edison by 13.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 3,721 shares of the utilities provider’s stock valued at $332,000 after purchasing an additional 441 shares during the last quarter. Mediolanum International Funds Ltd increased its holdings in Consolidated Edison by 27.9% in the fourth quarter. Mediolanum International Funds Ltd now owns 9,337 shares of the utilities provider’s stock valued at $830,000 after purchasing an additional 2,037 shares during the last quarter. Caprock Group LLC increased its holdings in Consolidated Edison by 104.7% in the fourth quarter. Caprock Group LLC now owns 9,062 shares of the utilities provider’s stock valued at $809,000 after purchasing an additional 4,636 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. increased its holdings in shares of Consolidated Edison by 25.0% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 10,082 shares of the utilities provider’s stock worth $900,000 after acquiring an additional 2,015 shares in the last quarter. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Stock Down 0.6%

NYSE:ED opened at $103.82 on Tuesday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01. The company has a market cap of $37.41 billion, a PE ratio of 19.81, a PEG ratio of 3.05 and a beta of 0.29. Consolidated Edison, Inc. has a 52-week low of $87.28 and a 52-week high of $114.87. The stock has a 50-day simple moving average of $107.89 and a 200 day simple moving average of $100.29.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Thursday, May 1st. The utilities provider reported $2.25 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.05). Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. The company had revenue of $4.80 billion for the quarter, compared to analyst estimates of $4.21 billion. During the same period last year, the company posted $2.15 earnings per share. On average, sell-side analysts expect that Consolidated Edison, Inc. will post 5.62 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Wednesday, May 14th will be given a dividend of $0.85 per share. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $3.40 annualized dividend and a yield of 3.27%. Consolidated Edison’s dividend payout ratio (DPR) is presently 62.85%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Wells Fargo & Company increased their price target on Consolidated Edison from $103.00 to $114.00 and gave the stock an “equal weight” rating in a report on Friday, May 2nd. Morgan Stanley lowered their price target on Consolidated Edison from $94.00 to $93.00 and set an “underweight” rating for the company in a report on Thursday, May 22nd. Citigroup increased their price target on Consolidated Edison from $116.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, April 9th. KeyCorp downgraded Consolidated Edison from a “sector weight” rating to an “underweight” rating and set a $90.00 price target for the company. in a report on Wednesday, May 14th. Finally, Mizuho increased their price target on Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Consolidated Edison presently has a consensus rating of “Hold” and an average target price of $104.27.

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.