Consolidated Edison, Inc. (NYSE:ED) Shares Purchased by Traphagen Investment Advisors LLC

Traphagen Investment Advisors LLC raised its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 20.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,454 shares of the utilities provider’s stock after buying an additional 1,961 shares during the period. Traphagen Investment Advisors LLC’s holdings in Consolidated Edison were worth $1,267,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of ED. Brighton Jones LLC raised its holdings in shares of Consolidated Edison by 6.5% in the 1st quarter. Brighton Jones LLC now owns 2,945 shares of the utilities provider’s stock worth $326,000 after purchasing an additional 179 shares in the last quarter. Exchange Traded Concepts LLC raised its holdings in shares of Consolidated Edison by 3.7% in the 1st quarter. Exchange Traded Concepts LLC now owns 10,941 shares of the utilities provider’s stock worth $1,210,000 after purchasing an additional 393 shares in the last quarter. Ritholtz Wealth Management bought a new stake in shares of Consolidated Edison in the 1st quarter worth approximately $227,000. Southland Equity Partners LLC raised its holdings in shares of Consolidated Edison by 6.4% in the 1st quarter. Southland Equity Partners LLC now owns 2,728 shares of the utilities provider’s stock worth $302,000 after purchasing an additional 165 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in shares of Consolidated Edison by 2.8% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 250,014 shares of the utilities provider’s stock worth $27,649,000 after purchasing an additional 6,869 shares in the last quarter. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Stock Performance

Shares of ED opened at $103.89 on Monday. The company’s 50 day moving average price is $106.74 and its 200 day moving average price is $100.50. Consolidated Edison, Inc. has a 52 week low of $87.28 and a 52 week high of $114.87. The company has a market capitalization of $37.43 billion, a PE ratio of 19.83, a PEG ratio of 3.05 and a beta of 0.27. 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 (NYSE:ED) last announced its quarterly earnings data on Thursday, May 1st. The utilities provider reported $2.25 EPS for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $4.21 billion. During the same period in the previous year, the firm posted $2.15 earnings per share. Research analysts expect that Consolidated Edison, Inc. will post 5.62 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

The business also recently disclosed 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. This represents a $3.40 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date is Wednesday, May 14th. Consolidated Edison’s payout ratio is presently 62.85%.

Wall Street Analyst Weigh In

ED has been the topic of a number of research reports. Wells Fargo & Company boosted their target price on shares of 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 dropped their target price on shares of Consolidated Edison from $94.00 to $93.00 and set an “underweight” rating on the stock in a research report on Thursday, May 22nd. Guggenheim lifted their target price on shares of Consolidated Edison from $96.00 to $103.00 and gave the stock a “neutral” rating in a research report on Friday, May 2nd. KeyCorp downgraded shares of Consolidated Edison from a “sector weight” rating to an “underweight” rating and set a $90.00 target price on the stock. in a research report on Wednesday, May 14th. Finally, Citigroup lifted their target price on shares of Consolidated Edison from $116.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, April 9th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $104.27.

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.