Checchi Capital Advisers LLC Has $666,000 Stock Holdings in Consolidated Edison Inc (NYSE:ED)

Checchi Capital Advisers LLC boosted its position in Consolidated Edison Inc (NYSE:ED) by 4.6% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 6,022 shares of the utilities provider’s stock after purchasing an additional 265 shares during the period. Checchi Capital Advisers LLC’s holdings in Consolidated Edison were worth $666,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the company. Glen Eagle Advisors LLC lifted its stake in Consolidated Edison by 6.2% in the 4th quarter. Glen Eagle Advisors LLC now owns 1,902 shares of the utilities provider’s stock valued at $170,000 after purchasing an additional 111 shares during the last quarter. Richwood Investment Advisors LLC lifted its stake in Consolidated Edison by 2.3% in the 4th quarter. Richwood Investment Advisors LLC now owns 5,194 shares of the utilities provider’s stock valued at $463,000 after purchasing an additional 115 shares during the last quarter. Western Wealth Management LLC lifted its stake in Consolidated Edison by 0.7% in the 1st quarter. Western Wealth Management LLC now owns 16,101 shares of the utilities provider’s stock valued at $1,781,000 after purchasing an additional 116 shares during the last quarter. Integrated Advisors Network LLC lifted its stake in Consolidated Edison by 1.6% in the 1st quarter. Integrated Advisors Network LLC now owns 7,842 shares of the utilities provider’s stock valued at $867,000 after purchasing an additional 121 shares during the last quarter. Finally, Penobscot Investment Management Company Inc. lifted its stake in Consolidated Edison by 5.7% in the 4th quarter. Penobscot Investment Management Company Inc. now owns 2,300 shares of the utilities provider’s stock valued at $205,000 after purchasing an additional 125 shares during the last quarter. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently issued reports on ED. Wells Fargo & Company raised their target price on shares of Consolidated Edison from $103.00 to $114.00 and gave the company an “equal weight” rating in a research note on Friday, May 2nd. UBS Group raised their target price on shares of Consolidated Edison from $110.00 to $113.00 and gave the company a “neutral” rating in a research note on Friday, March 21st. KeyCorp downgraded shares of Consolidated Edison from a “sector weight” rating to an “underweight” rating and set a $90.00 price objective for the company. in a research report on Wednesday, May 14th. Morgan Stanley cut their price objective 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, June 18th. Finally, Citigroup raised their price objective 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 equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $105.27.

Consolidated Edison Stock Up 0.2%

Shares of ED opened at $100.08 on Friday. Consolidated Edison Inc has a 12 month low of $87.28 and a 12 month high of $114.87. The firm’s 50 day moving average is $103.70 and its 200-day moving average is $100.96. The stock has a market capitalization of $36.06 billion, a PE ratio of 18.50, a P/E/G ratio of 3.20 and a beta of 0.26. The company has a current ratio of 1.28, a quick ratio of 1.19 and a debt-to-equity ratio of 1.04.

Consolidated Edison (NYSE:ED) last announced its 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 return on equity of 8.61% and a net margin of 11.98%. The business had revenue of $4.80 billion for the quarter, compared to the consensus estimate of $4.21 billion. During the same period in the prior year, the business posted $2.15 earnings per share. Equities research analysts forecast that Consolidated Edison Inc will post 5.62 EPS for the current year.

Consolidated Edison Dividend Announcement

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

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.