Garde Capital Inc. Buys Shares of 439 Consolidated Edison Inc (NYSE:ED)

Garde Capital Inc. bought a new stake in shares of Consolidated Edison Inc (NYSE:ED) in the 1st quarter, HoldingsChannel reports. The fund bought 439 shares of the utilities provider’s stock, valued at approximately $49,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Evanson Asset Management LLC bought a new stake in Consolidated Edison during the first quarter valued at $243,000. Segment Wealth Management LLC bought a new stake in Consolidated Edison during the first quarter valued at $225,000. ORG Partners LLC increased its stake in Consolidated Edison by 81.9% during the first quarter. ORG Partners LLC now owns 1,723 shares of the utilities provider’s stock valued at $191,000 after purchasing an additional 776 shares during the last quarter. ORG Wealth Partners LLC grew its position in shares of Consolidated Edison by 144.1% during the first quarter. ORG Wealth Partners LLC now owns 5,741 shares of the utilities provider’s stock worth $632,000 after acquiring an additional 3,389 shares during the last quarter. Finally, HCR Wealth Advisors bought a new position in shares of Consolidated Edison during the first quarter worth about $243,000. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Stock Performance

Shares of ED opened at $100.92 on Friday. The firm has a 50-day moving average price of $106.12 and a 200 day moving average price of $100.58. The firm has a market capitalization of $36.36 billion, a PE ratio of 18.65, a P/E/G ratio of 3.22 and a beta of 0.27. The company has a quick ratio of 1.19, a current ratio of 1.28 and a debt-to-equity ratio of 1.04. Consolidated Edison Inc has a 52-week low of $87.28 and a 52-week high of $114.87.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Thursday, May 1st. The utilities provider reported $2.25 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.05). Consolidated Edison had a net margin of 11.98% and a return on equity of 8.61%. The business had revenue of $4.80 billion during the quarter, compared to analyst estimates of $4.21 billion. During the same period in the previous year, the company posted $2.15 earnings per share. On average, sell-side analysts anticipate that Consolidated Edison Inc will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Wednesday, May 14th were issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date was Wednesday, May 14th. Consolidated Edison’s payout ratio is 62.85%.

Wall Street Analyst Weigh In

Several research firms have recently commented on ED. Scotiabank upped their price target on shares of Consolidated Edison from $100.00 to $101.00 and gave the stock a “sector perform” rating in a research report on Monday, February 24th. Morgan Stanley lowered their price target on shares of Consolidated Edison from $93.00 to $92.00 and set an “underweight” rating for the company in a research report on Wednesday. Wells Fargo & Company upped their price target on shares of Consolidated Edison from $103.00 to $114.00 and gave the stock an “equal weight” rating in a research report on Friday, May 2nd. KeyCorp lowered shares of Consolidated Edison from a “sector weight” rating to an “underweight” rating and set a $90.00 price target for the company. in a research report on Wednesday, May 14th. Finally, Barclays upped their price target on shares of Consolidated Edison from $100.00 to $101.00 and gave the stock an “underweight” rating in a research report on Monday, May 5th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Consolidated Edison currently has a consensus rating of “Hold” and an average price target of $104.18.

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.