Westfuller Advisors LLC Acquires 4,447 Shares of Consolidated Edison Inc $ED

Westfuller Advisors LLC lifted its holdings in shares of Consolidated Edison Inc (NYSE:ED) by 1,611.2% in the first quarter, HoldingsChannel reports. The institutional investor owned 4,723 shares of the utilities provider’s stock after buying an additional 4,447 shares during the period. Westfuller Advisors LLC’s holdings in Consolidated Edison were worth $535,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of ED. GW&K Investment Management LLC raised its holdings in Consolidated Edison by 28.5% during the fourth quarter. GW&K Investment Management LLC now owns 419 shares of the utilities provider’s stock worth $42,000 after acquiring an additional 93 shares in the last quarter. Meadowbrook Wealth Management LLC boosted its position in Consolidated Edison by 2.2% during the fourth quarter. Meadowbrook Wealth Management LLC now owns 4,687 shares of the utilities provider’s stock valued at $466,000 after purchasing an additional 100 shares during the last quarter. bLong Financial LLC grew its stake in Consolidated Edison by 1.3% in the fourth quarter. bLong Financial LLC now owns 7,775 shares of the utilities provider’s stock valued at $772,000 after purchasing an additional 100 shares in the last quarter. Bridgewater Advisors Inc. grew its stake in Consolidated Edison by 1.6% in the fourth quarter. Bridgewater Advisors Inc. now owns 6,635 shares of the utilities provider’s stock valued at $689,000 after purchasing an additional 105 shares in the last quarter. Finally, Venture Visionary Partners LLC increased its position in shares of Consolidated Edison by 2.0% during the 4th quarter. Venture Visionary Partners LLC now owns 5,606 shares of the utilities provider’s stock worth $557,000 after purchasing an additional 108 shares during the last quarter. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison News Roundup

Here are the key news stories impacting Consolidated Edison this week:

• Negative Sentiment: Con Edison is reducing voltage in parts of the Bronx, Westchester, and other areas and asking customers to limit power use, signaling strain on the grid during extreme heat. Con Edison Calls for Power-Saving, Reduces Voltage by 8% in Some Areas — Update
• Negative Sentiment: Thousands of customers lost power in the Bronx, Brooklyn, Staten Island, and other neighborhoods, which may raise concerns about service reliability and near-term operating disruption. 5,000 Con Edison customers in the Bronx without power amid heat wave
• Negative Sentiment: Con Edison’s repeated warnings for customers to conserve energy suggest the utility is actively managing peak-load stress, which can weigh on investor sentiment even if outages are temporary. As heat wave rages, Con Ed urges nearly 90,000 people in NYC, Westchester to limit power use
• Neutral Sentiment: The company elected Tali Farhadian to its Board of Directors, adding legal and regulatory experience; this is governance-related and unlikely to move the stock much in the near term. Con Edison Elects New Board Member

Analyst Ratings Changes

A number of brokerages have recently issued reports on ED. JPMorgan Chase & Co. upped their price objective on Consolidated Edison from $107.00 to $113.00 and gave the stock an “underweight” rating in a research note on Thursday, March 12th. Weiss Ratings raised shares of Consolidated Edison from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, April 24th. KeyCorp boosted their target price on shares of Consolidated Edison from $96.00 to $97.00 and gave the stock an “underweight” rating in a report on Tuesday, April 21st. Wells Fargo & Company set a $98.00 price target on shares of Consolidated Edison in a research report on Tuesday, April 21st. Finally, Argus set a $112.00 price target on shares of Consolidated Edison in a research note on Tuesday, June 23rd. Two research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and six have issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $108.07.

Consolidated Edison Trading Down 0.0%

Consolidated Edison stock opened at $113.96 on Monday. The stock has a 50-day simple moving average of $107.88 and a 200 day simple moving average of $107.77. The stock has a market capitalization of $42.00 billion, a P/E ratio of 19.18, a PEG ratio of 2.89 and a beta of 0.27. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.09 and a current ratio of 1.19. Consolidated Edison Inc has a 52 week low of $94.96 and a 52 week high of $116.23.

Consolidated Edison Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Wednesday, May 13th were paid a dividend of $0.8875 per share. This represents a $3.55 annualized dividend and a dividend yield of 3.1%. The ex-dividend date was Wednesday, May 13th. Consolidated Edison’s payout ratio is currently 59.76%.

Consolidated Edison Company Profile

Consolidated Edison, Inc, commonly known as Con Edison, is an investor-owned energy company that primarily delivers electricity, natural gas and steam to customers in the New York metropolitan area. Its regulated utility operations include the distribution and transmission of electric power, the distribution of natural gas, and the operation of one of the largest district steam systems in the United States, serving commercial, institutional and residential customers in New York City and nearby counties.

The company operates through regulated utility subsidiaries that serve urban and suburban service territories, together with non-utility businesses that develop, own and manage energy infrastructure and clean energy projects.