Sequoia Financial Advisors LLC Buys 7,582 Shares of Consolidated Edison Inc $ED

Sequoia Financial Advisors LLC lifted its stake in shares of Consolidated Edison Inc (NYSE:ED) by 26.2% in the 1st quarter, HoldingsChannel reports. The firm owned 36,498 shares of the utilities provider’s stock after buying an additional 7,582 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Consolidated Edison were worth $4,131,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of ED. Revolve Wealth Partners LLC lifted its stake in Consolidated Edison by 13.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 3,721 shares of the utilities provider’s stock valued at $332,000 after purchasing an additional 441 shares during the last quarter. Empowered Funds LLC grew its holdings in Consolidated Edison by 42.1% during the first quarter. Empowered Funds LLC now owns 8,978 shares of the utilities provider’s stock valued at $993,000 after purchasing an additional 2,659 shares during the period. Woodline Partners LP increased its position in Consolidated Edison by 40.7% in the first quarter. Woodline Partners LP now owns 29,271 shares of the utilities provider’s stock worth $3,237,000 after buying an additional 8,468 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in Consolidated Edison in the second quarter worth $3,256,000. Finally, Baird Financial Group Inc. raised its stake in shares of Consolidated Edison by 2.1% in the second quarter. Baird Financial Group Inc. now owns 14,679 shares of the utilities provider’s stock valued at $1,473,000 after buying an additional 296 shares during the period. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ED. Wells Fargo & Company set a $98.00 price target on Consolidated Edison in a research report on Tuesday, April 21st. Argus set a $112.00 price objective on Consolidated Edison in a report on Tuesday, June 23rd. KeyCorp boosted their price objective on Consolidated Edison from $96.00 to $97.00 and gave the company an “underweight” rating in a research note on Tuesday, April 21st. The Goldman Sachs Group reaffirmed a “sell” rating and set a $105.00 price objective on shares of Consolidated Edison in a report on Thursday, May 14th. Finally, Evercore set a $116.00 target price on shares of Consolidated Edison in a research report on Monday, May 11th. Two investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and six have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus price target of $108.07.

Consolidated Edison Price Performance

Consolidated Edison stock opened at $111.83 on Tuesday. The firm has a market capitalization of $41.21 billion, a P/E ratio of 18.83, a PEG ratio of 2.82 and a beta of 0.27. Consolidated Edison Inc has a one year low of $94.96 and a one year high of $116.23. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.19 and a quick ratio of 1.09. The business has a fifty day moving average price of $108.13 and a 200-day moving average price of $108.30.

Consolidated Edison Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Wednesday, May 13th were paid a $0.8875 dividend. The ex-dividend date was Wednesday, May 13th. This represents a $3.55 annualized dividend and a yield of 3.2%. Consolidated Edison’s dividend payout ratio (DPR) is currently 59.76%.

Consolidated Edison 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.