Frisch Financial Group Inc. Has $1.26 Million Stock Holdings in Consolidated Edison, Inc. (NYSE:ED)

Frisch Financial Group Inc. boosted its holdings in shares of Consolidated Edison, Inc. (NYSE:ED) by 100.3% in the second quarter, according to its most recent filing with the SEC. The firm owned 14,034 shares of the utilities provider’s stock after acquiring an additional 7,027 shares during the period. Frisch Financial Group Inc.’s holdings in Consolidated Edison were worth $1,255,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of ED. Retirement Planning Co of New England Inc. grew its holdings in shares of Consolidated Edison by 4.2% in the 2nd quarter. Retirement Planning Co of New England Inc. now owns 2,501 shares of the utilities provider’s stock valued at $224,000 after buying an additional 100 shares during the period. Syon Capital LLC grew its holdings in shares of Consolidated Edison by 2.3% in the 4th quarter. Syon Capital LLC now owns 5,954 shares of the utilities provider’s stock valued at $542,000 after buying an additional 136 shares during the period. G&S Capital LLC grew its holdings in shares of Consolidated Edison by 1.6% in the 1st quarter. G&S Capital LLC now owns 8,747 shares of the utilities provider’s stock valued at $794,000 after buying an additional 139 shares during the period. Checchi Capital Advisers LLC grew its holdings in shares of Consolidated Edison by 2.6% in the 2nd quarter. Checchi Capital Advisers LLC now owns 5,627 shares of the utilities provider’s stock valued at $503,000 after buying an additional 141 shares during the period. Finally, Center For Asset Management LLC grew its holdings in shares of Consolidated Edison by 3.5% in the 2nd quarter. Center For Asset Management LLC now owns 4,358 shares of the utilities provider’s stock valued at $390,000 after buying an additional 147 shares during the period. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Trading Up 0.3 %

Consolidated Edison stock opened at $104.85 on Tuesday. The firm has a 50-day moving average of $99.06 and a 200-day moving average of $94.28. Consolidated Edison, Inc. has a one year low of $80.46 and a one year high of $105.99. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.04 and a quick ratio of 0.97. The company has a market cap of $36.26 billion, a price-to-earnings ratio of 20.12, a P/E/G ratio of 3.50 and a beta of 0.36.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. Consolidated Edison had a net margin of 12.03% and a return on equity of 8.67%. The company had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.08 billion. During the same period in the prior year, the business posted $0.61 EPS. On average, equities analysts expect that Consolidated Edison, Inc. will post 5.31 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Wednesday, August 14th were issued a $0.83 dividend. The ex-dividend date was Wednesday, August 14th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.17%. Consolidated Edison’s payout ratio is 63.72%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Mizuho boosted their price target on shares of Consolidated Edison from $93.00 to $95.00 and gave the company a “neutral” rating in a report on Tuesday, May 28th. Morgan Stanley upped their target price on shares of Consolidated Edison from $75.00 to $82.00 and gave the stock an “underweight” rating in a research note on Friday, August 23rd. Barclays upped their target price on shares of Consolidated Edison from $92.00 to $98.00 and gave the stock an “underweight” rating in a research note on Monday, August 5th. Wells Fargo & Company upped their target price on shares of Consolidated Edison from $97.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. Finally, Guggenheim upped their target price on shares of Consolidated Edison from $88.00 to $91.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Consolidated Edison presently has an average rating of “Hold” and a consensus price target of $92.65.

Consolidated Edison Company 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.