Covestor Ltd Buys 1,018 Shares of Consolidated Edison Inc (NYSE:ED)

Covestor Ltd boosted its holdings in shares of Consolidated Edison Inc (NYSE:ED) by 103.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,005 shares of the utilities provider’s stock after buying an additional 1,018 shares during the period. Covestor Ltd’s holdings in Consolidated Edison were worth $221,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Deutsche Bank AG raised its position in Consolidated Edison by 130.6% during the first quarter. Deutsche Bank AG now owns 3,926,814 shares of the utilities provider’s stock valued at $434,266,000 after purchasing an additional 2,223,959 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Consolidated Edison by 106.9% in the first quarter. JPMorgan Chase & Co. now owns 2,790,876 shares of the utilities provider’s stock worth $308,643,000 after buying an additional 1,441,785 shares during the period. GAMMA Investing LLC increased its holdings in shares of Consolidated Edison by 15,937.5% in the first quarter. GAMMA Investing LLC now owns 1,022,073 shares of the utilities provider’s stock worth $113,031,000 after buying an additional 1,015,700 shares during the period. Marshall Wace LLP increased its holdings in shares of Consolidated Edison by 232.3% in the fourth quarter. Marshall Wace LLP now owns 1,053,339 shares of the utilities provider’s stock worth $93,989,000 after buying an additional 736,348 shares during the period. Finally, Vanguard Group Inc. increased its holdings in shares of Consolidated Edison by 1.6% in the first quarter. Vanguard Group Inc. now owns 43,117,094 shares of the utilities provider’s stock worth $4,768,319,000 after buying an additional 661,432 shares during the period. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Price Performance

Shares of ED opened at $104.55 on Friday. The firm has a market cap of $37.67 billion, a PE ratio of 18.97, a P/E/G ratio of 3.35 and a beta of 0.24. The company has a current ratio of 1.28, a quick ratio of 1.19 and a debt-to-equity ratio of 1.04. The firm has a fifty day simple moving average of $101.66 and a two-hundred day simple moving average of $103.09. Consolidated Edison Inc has a 1-year low of $87.28 and a 1-year high of $114.87.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings data on Thursday, August 7th. The utilities provider reported $0.67 EPS for the quarter, topping the consensus estimate of $0.66 by $0.01. The firm had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.39 billion. Consolidated Edison had a return on equity of 8.68% and a net margin of 11.98%. During the same period in the prior year, the business posted $0.59 EPS. On average, equities analysts anticipate that Consolidated Edison Inc will post 5.62 EPS for the current year.

Consolidated Edison Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Wednesday, August 13th will be paid a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Wednesday, August 13th. Consolidated Edison’s dividend payout ratio is 62.85%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on ED shares. KeyCorp restated an “overweight” rating on shares of Consolidated Edison in a report on Wednesday, July 16th. Barclays lifted their price objective on Consolidated Edison from $100.00 to $101.00 and gave the company an “underweight” rating in a research report on Monday, May 5th. Wells Fargo & Company lifted their price objective on Consolidated Edison from $103.00 to $114.00 and gave the company an “equal weight” rating in a research report on Friday, May 2nd. Guggenheim lifted their price objective on Consolidated Edison from $96.00 to $103.00 and gave the company a “neutral” rating in a research report on Friday, May 2nd. Finally, Mizuho lifted their price objective on Consolidated Edison from $107.00 to $112.00 and gave the company an “outperform” rating in a research report on Friday. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $105.20.

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.